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Informist, Tuesday, Mar. 24, 2026

 

By Simran Rede

 

MUMBAI – Put writing in the Nifty 50's monthly options and a likely rollover of net long positions to the index's April futures suggest that the benchmark is poised to take Tuesday's rise further, according to derivatives analysts. However, the mood in the market remains cautious as updates on the conflict in West Asia remain uncertain.

 

Many market participants continued to roll over long positions to the April futures of the Nifty 50 Tuesday, ahead of the expiry of the March derivatives series Monday, according to derivatives analysts. Tuesday, the April futures of the benchmark saw open interest rise 34% to nearly 6.2 million.

 

Tuesday, the Nifty 50 settled at 22912.40, up 399.75 points or 1.8%. The BSE Sensex ended at 74068.45 points, up 1372.06 points or 1.9%. The 50-stock index is still down 9% since the start of the hostilities in West Asia. The March futures contract of the benchmark closed at a premium of 71.60 points to the spot index. Open interest in the contract fell 1.5% to 16.82 million, according to provisional data. The April futures of the index closed at a premium of 193.50 points to the spot index.

 

Going ahead, the immediate resistance for the 50-stock index is seen at 23000-23350 points and immediate support is seen at 22500 points, Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market, said. "Positional crucial supports are placed around 22000-21750 spot levels," he added.

 

Technical analysts expect the index to clock some more gains Wednesday and be in a defined range of 22500–23200 points. Premiums on the 23000-strike call rose 58% with open interest rising by 1.92 million to nearly 5 million contracts. Premiums on the 23000-strike put contract fell over 50% with open interest rising by 1.96 million to over 5 million contracts.

 

--Nifty 50 March closed at 22984.00, up 469.10 points; 71.60-point premium to the spot index

--Nifty 50 April closed at 23105.90, up 457.70 points; 193.50-point premium to the spot index

--Nifty 50 May closed at 23235.00, up 446.70 points; 322.60-point premium to the spot index

 

HDFC Bank, ICICI Bank, Reliance Industries, Infosys, State Bank of India, Kotak Mahindra Bank, Tata Consultancy Services, Bharti Airtel, Axis Bank, Bajaj Finance, Larsen & Toubro, HCL Technologies, Mahindra & Mahindra, InterGlobe Aviation, Hindustan Unilever, JSW Steel, Eternal, Shriram Finance, and Wipro were the most actively traded underlying stocks Tuesday.  End

 

Edited by Rajeev Pai

 

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