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Informist, Thursday, Mar. 5, 2026

 

By Anshul Choudhary

 

MUMBAI – Option traders covered short positions and added fresh long bets after the Nifty 50 rose more than 1% Thursday. The Nifty 50 is likely to keep rising but any sharp gains is seen limited, while some traders even took positions anticipating a sharp fall, options data showed.

 

Benchmark indices rose after declining nearly 3% since the US and Israel first attacked Iran over the weekend. While the index is likely to rise, any sharp gains will depend on the situation in West Asia and the movement of crude oil prices.

 

Brent crude oil May futures have hovered around $82-$84 per barrel on Thursday, and at 1632 IST, it was at $83 per barrel, up nearly 2%. The US officials' assurance that it will provide Navy support to ships crossing the Strait of Hormuz has helped keep crude oil prices in check. However, analysts said oil prices are still at the risk of rising if the Strait remains shut.

 

On the call side, traders covered short bets in in-the-money contracts as the Nifty 50 rose tracking gains across global markets. However, traders continue to sell call options above 25000 strike prices, suggesting a rise-on-sell approach may continue.

 

The highest open interest on the call side was at 26000 strike prices. This was followed by 25500 and 25000 strike prices--which is likely to act as a resistance for the Nifty 50 index.

 

Traders sold put options across the board, indicating sentiment has turned slightly positive. However, analysts warned that the Thursday's Nifty 50 movement shouldn't be seen as a flip in sentiment and the market is likely to fall more if hostilities between the US and Iran continue.

 

The highest open interest on the put side was at 22750 strike price. It was followed by 23500-24500 strike prices, indicating a mixed view among traders over the extent of fall in the Nifty 50.

 

--Nifty 50 March closed at 24832.00, up 247.30 points; 66.10-point premium to the spot index

--Nifty 50 April closed at 24985.00, up 244.00 points; 219.10-point premium to the spot index

--Nifty 50 May closed at 25092.90, up 229.30 points; 327.00-point premium to the spot index

 

HDFC Bank, National Aluminium Co., Reliance Industries, Hindalco Industries, Larsen & Toubro, State Bank of India, Bharat Electronics, Vedanta, BSE, InterGlobe Aviation, ICICI Bank, Multi Commodity Exchange of India, Tata Steel, Coal India, and Mazagon Dock Shipbuilders were the most actively traded underlying stocks Thursday.  End

 

Edited by Tanima Banerjee

 

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