More Stories

Informist, Wednesday, Mar. 4, 2026

 

By Anshul Choudhary

 

MUMBAI – Options data shows the Nifty 50 is unlikely to fall sharply Thursday and may even find support at current levels. However, this will depend on the situation in West Asia. The index is expected to fall more if the situation between the US and Iran deteriorates further.

 

Iran has intensified its attacks on US bases across West Asia. It has already hit a few energy infrastructures and there are concerns that supply of crude oil could be hit if the Strait of Hormuz remains shut.

 

This has led to a sharp rise in crude oil prices, with the May futures contracts of Brent crude oil crossing $85 per barrel on Tuesday. The contract came off the high on Wednesday. At 1630 IST, it was at $82.32 per barrel, up 1%. In reaction to the rise in crude oil futures, Indian share indices slumped for the third straight session, with the Nifty 50 Wednesday falling below its immediate support level to end at 24480.50 points, down almost 400 points or 1.6% from Monday's closing level.

 

The sharp fall pushed traders to add short positions across call and put options. However, the open interest suggests the Nifty 50 is unlikely to see any sharp fall from here as it has already declined nearly 700 points or 3% since the hostilities between the US and Iran began.

 

The highest open interest addition in put options was at 24400 strike price, which is likely to act as an immediate support. However, several analysts said any rise in the index should not be seen as a change in sentiment and the market will continue to fall if US-Iran hostilities continue. The next support for the index is seen at 24000 points, which is nearly 2?low the current level.

 

Positions on the call side indicate the Nifty 50 can see a relief as 25000 strike price had the highest open interest, which is likely to act as a resistance. However, this is only possible if the index manages to stay above the 24500 level on Thursday.

 

--Nifty 50 March closed at 24578.00, down 404.20 points; 97.50-point premium to the spot index

--Nifty 50 April closed at 24735.60, down 404.60 points; 255.10-point premium to the spot index

--Nifty 50 May closed at 24835.00, down 400.50 points; 354.50-point premium to the spot index

 

HDFC Bank, Reliance Industries, State Bank of India, Tata Steel, Larsen & Toubro, Bharti Airtel, ICICI Bank, Infosys, Bharat Electronics, InterGlobe Aviation, Vedanta, National Aluminium Co., Multi Commodity Exchange of India, and Axis Bank were the most actively traded underlying stocks Wednesday.  End

 

Edited by Ashish Shirke

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.