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Informist, Thursday, Jul. 17, 2025

By Akash Mandal

MUMBAI – Options data showed the Nifty 50 is likely to continue its range-bound movement in the near term until there is a significant trigger in the market. Thursday, the Nifty 50 closed at 25111.45 points, down 100.60 points. The index has been moving in a narrow range between 25000 points and 25300 points for five sessions now.

Slight selling in the cash market Thursday pushed traders to sell call options across the board and even buy in-the-money and at-the-money put options. For call options expiring next week, the maximum addition of open interest was at 26000 strike prices, followed by 25200 strike prices. Traders also added significant open interest at the 25300-25500 call options. This suggests the Nifty 50 is likely to face strong resistance above 25200 points.

On the put side, traders bought in-the-money and at-the-money put options amid concerns of slow earnings growth and stretched stock valuations. Global brokerage Citi downgraded Indian equities to "neutral" from "overweight" Thursday owing to concerns about lofty valuations in the market. Traders bought option contracts between 24950 and 25200 strike prices with analysts saying this shows the index is likely to remain sideways with not much movement in either direction. The Nifty 50 is likely to find support at 25000-24900 points, technical analysts said. 

The put-call ratio fell to 70% from 90% during the session, a derivatives analyst at a domestic brokerage said. The analyst expects the Nifty 50 to keep moving in a thin range until either a deal between India and the US is announced or earnings offer a positive surprise. "Put writers seemed hesitant, suggesting limited conviction in a strong move upward," the analyst said. 

--Nifty 50 Jul closed at 25170.50, down 75.30 points; 59.05-point premium to the spot index

--Nifty 50 Aug closed at 25265.00, down 83.00 points; 153.55-point premium to the spot index

--Nifty 50 Sep closed at 25430.00, down 78.30 points; 318.55-point premium to the spot index

State Bank of India, HDFC Bank, RBL Bank, Reliance Industries, Tech Mahindra, Infosys, ICICI Bank, Sona BLW Precision Forgings, ABB India, Polycab India, HDFC Asset Management Co., Patanjali Foods, Axis Bank, Glenmark Pharma, and Mahindra & Mahindra were the most active underlying stocks Thursday.  End

Edited by Rajeev Pai

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