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Informist, Tuesday, Jul. 15, 2025

By Akash Mandal

MUMBAI – Options data indicate that gains in the Nifty 50 are expected to be capped in the near term with the maximum open interest on the call side at the 25200 strike price. The Nifty 50 snapped a four-session declining streak Tuesday, which pushed traders to cover their short positions.

Traders covered their short positions in in-the-money call contracts. Short-covering was also seen at 25300-25350 strike prices. However, traders sold call options above 25400 strike prices. Tuesday, the Nifty 50 closed at 25195.80 points, up 0.5%.

On the put side, the maximum open interest of 10.63 million was seen at the 25000 strike price, which is likely to act as a support for the 50-stock index this week. Premiums across all put options expiring Thursday fell, while open interest on most of these contracts rose.

"The market looks positive in the near term and is not likely to fall much before expiry," said Brijesh Ail, head of technical and derivatives at IDBI Capital Market & Securities. He said the current long-to-short ratio for foreign investors in the market is 18%, indicating that the market might fall in the near term, though such a fall looks unlikely before Thursday.

The market is expected to find support on hopes of better earnings in the quarters to follow as inflation has eased. CPI inflation in June moderated to 2.10% in June from 2.82% in May. The June print was the lowest since January 2019. "CPI inflation is likely to undershoot the RBI's 3.7% forecast for FY26," Nirmal Bang Equities said in its report.

Analysts are still divided on whether the latest inflation data would push the Reserve Bank of India to cut rates further. The central bank has already lowered interest rates by 100 basis points from the peak. JM Financial Services expects the RBI to maintain status quo at its August meeting. "...we expect the RBI to assess the impact of US tariffs on domestic growth before stimulating the economy with further policy easing," the brokerage said in its report.

--Nifty 50 Jul closed at 25283.00, up 115.50 points; 87.20-point premium to the spot index

--Nifty 50 Aug closed at 25384.00, up 115.20 points; 188.20-point premium to the spot index

--Nifty 50 Sep closed at 25540.50, up 107.00 points; 344.70-point premium to the spot index

HCL Technologies, State Bank of India, Infosys, BSE, HDFC Bank, Hero MotoCorp, Reliance Industries, Axis Bank, Kotak Mahindra Bank, Tata Consultancy Services, Tata Technologies, ICICI Bank, Tata Elxsi, One 97 Communications, Sun Pharmaceutical Industries, and Eternal were the most active underlying stocks Tuesday.  End

Edited by Rajeev Pai

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