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Informist, Tuesday, Feb. 17, 2026

 

By Gopika Balasubramanium

 

MUMBAI – Traders wrote both call and put contracts expiring next week, implying that the index is likely to be in range, with the benchmark Nifty 50 likely to see a limited rise. As for the options expiring Tuesday, traders covered their short positions in in-the-money call, limiting the downside during the session. The 50-stock index remained in the green for the better part of Tuesday's session.     

 

On Tuesday, the Nifty 50 ended marginally higher at 25725.40 points. The 50-stock index traded in a band of 200 points during the session. Technical and derivative analysts expect the 50-stock index to move between 25600 points and 25800 points in the near term.     

 

"...at this juncture, what we suggest here is to buy 25700 call option and sell 25900 call option and bull call spread would be the strategy," Rajesh Palvia, head of technical and derivatives research at Axis Securities, said. "...so market (Nifty 50) will remain in range of 25600 to 25800 for next couple of days, and either side breakout or breakdown will decide the major direction," he added. 

 

Options chain showed that traders wrote call options across strikes expiring next week, and added short positions at higher out-of-the-money strikes, even at 27000 and 26000 strikes. This action indicates that there is little expectation of a sharp rise in Nifty 50 in the near-term. Traders even wrote call options at 25750-25900 strike, implying that there could be selling pressure even at current levels. The highest concentration as well as addition of open interest was at 27000 call. 

 

As for the put side, traders sold contracts at 25600-25700 expiring next week, which would act as strong support for the Nifty 50, even if there is selling pressure. They also sold put options at 25500 strike, which would also cushion any fall in the near term. The highest concentration of open interest was in 25000 put and the maximum addition of open interest was at 24000 put. 

 

--Nifty 50 February closed at 25736.00, up 18.80 points; 10.60-point premium to the spot index

--Nifty 50 March closed at 25895.00, up 16.00 points; 169.60-point premium to the spot index

--Nifty 50 April closed at 26051.00, up 13.20 points; 325.60-point premium to the spot index

 

Infosys, State Bank of India, Punjab National Bank, HDFC Bank, Aurobindo Pharma, ITC, Tata Consultancy Services, ICICI Bank, BSE, Reliance Industries, Wipro, Bharat Electronics, Adani Enterprises, Bank of Baroda, Canara Bank, JSW Steel, Adani Green Energy, Multi Commodity Exchange of India, Larsen & Toubro, Coforge, One 97 Communications, Union Bank, and Eternal were the most actively traded underlying stocks Tuesday.  End

 

Edited by Tanima Banerjee

 

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