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Informist, Monday, Sept. 8, 2025

By Akash Mandal 

MUMBAI – The Nifty 50 is likely to consolidate in the coming sessions even though investors are likely to retain a positive bias following last week's gains following the rationalisation of goods and services tax. The index is likely to inch towards 25000 points this week, but is unlikely to cross this psychologically crucial level, derivatives analysts at different broking firms said. Premiums across most out-of-the-money call and put options expiring Tuesday declined, hinting at the possibility that the index will move in a tight range. 

"Nifty (50) index is likely to trade in a rangebound manner, with immediate supports at 24680-24630 spot levels and resistances in range 24880-24925 spot levels," a derivatives analyst at a domestic broking firm said. Analysts remain cautious about a pickup in earnings growth, but are optimistic that the growth will be better in the latter half of the current financial year.

"Though the market response (to GST reforms) was weak, much of this was priced in in the 2% Nifty (50) rally since the Prime Minister's GST announcement on Aug. 15," Emkay Global Financial Services said in a report. The brokerage maintains its Nifty 50 target of 28000 by September 2026, which implies an upside of 13% from the current level.

On Monday, the 50-stock index closed 0.1% higher at 24773.15 points. Short covering was seen across deep in-the-money call strikes, which had lifted the Nifty 50 to 24900 levels intraday. However, there was long unwinding at some deep out-of-the-money call strikes, which weighed on the spot level and pulled it off highs. 

On the call side, the highest open interest addition was at the 24850-25000 strikes and the highest open interest concentration at 25000-24900 strikes. On the put side, the highest open interest addition was at the 24850-24700 strikes, implying that traders do not expect a sharp downside for the 50-stock index in the near term. The highest open interest concentration was at the 24500 strike, which is likely to be a strong support for the index. 

--Nifty 50 Sept closed at 24900.80, up 53.10 points; 127.65-point premium to the spot index

--Nifty 50 Oct closed at 25025.80, up 61.30 points; 252.65-point premium to the spot index

--Nifty 50 Nov closed at 25142.00, up 57.00 points; 368.85-point premium to the spot index

Tata Motors, Mahindra & Mahindra, Maruti Suzuki India, HDFC Bank, Eicher Motors, Reliance Industries, Tata Consultancy Services, Tata Steel, Infosys, Bajaj Auto, BSE, Kotak Mahindra Bank, Hero MotoCorp, ICICI Bank, and Ashok Leyland were the most active underlying stocks on Monday.  End

Edited by Avishek Dutta

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