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Informist, Monday, Jan. 5, 2026

 

By Gopika Balasubramanium

 

MUMBAI – Analysts expect the Nifty 50 to move in a thin range this week, with some expecting the index to stay between 26000 and 26300 points. Their bias for the short term remains positive and they see every dip as a buying opportunity. Analysts say it is important for the headline index to stay above 26100 points. As far as the 50-stock index stays above this level, a bullish sentiment is seen prevailing in the market. At the same time, they expect the index to face selling pressure at 26300 points, near its record high.

 

Monday, the Nifty 50 ended at 26250.30 points, erasing all its intraday gains after hitting a new record high of 26373.20 points. Some amount of volatility is also expected Tuesday on account of the weekly expiry of Nifty 50 derivatives, analysts said. The options chain suggests there has been call writing at multiple strike prices and traders probably added short positions. Traders also bought put options at out-of-the-money strikes ahead of Tuesday's expiry.

 

Monday, the call option at strike price 26300 points saw the highest addition of short positions, indicating selling pressure at this level, Ashish Sherigar, technical and derivatives analyst at NVS Brokerage, said. He said he expects the Nifty 50 to remain in the range of 26000-26300 points for the week. 

 

Traders were most active at the 26300 points call during Monday's session. This strike saw the maximum concentration as well as addition of open interest. Meanwhile, premiums at out-of-the-money call options between strike prices 26350-26500 declined 83-86%, with traders adding short positions on the call side. On the other hand, the out-of-the-money 25700 put option saw the highest concentration of open interest. In-the-money put options at strikes between 26300 and 26500 points saw an increase of 36-41% in premiums.

Options data indicate a muted expiry of weekly derivatives contracts of the Nifty 50, with support around 26165-26120 points and resistance around 26320-26380 points for the index, Vipin Kumaar, technical and derivatives analyst at Globe Capital Market, said. "Short-term structure for the Nifty 50 is strong as long as it is above 26100 points, and we continue to maintain buy-on-dips approach," he added.

 

--Nifty 50 January closed at 26329.00, down 126.40 points; 78.70-point premium to the spot index
--Nifty 50 February closed at 26476.00, down 115.50 points; 225.70-point premium to the spot index

--Nifty 50 March closed at 26655.00, down 117.60 points; 404.70-point premium to the spot index

 

HDFC Bank, ICICI Bank, Reliance Industries, State Bank of India, ITC, Infosys, Bharat Electronics, Godrej Properties, Vodafone Idea, Axis Bank, Bajaj Finance, BSE, Tata Consultancy Services, Coal India, Hindustan Electronics, Tata Steel, Maruti Suzuki India, Bank of Baroda, Oil and Natural Gas Corp., Dixon Technologies (India), REC, Hindustan Unilever, Bharat Heavy Electricals, Hindustan Petroleum Corp., Union Bank, and Mahindra & Mahindra were the most actively traded underlying stocks.

 

Edited by Rajeev Pai

 

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