More Stories

Informist, Tuesday, Jan. 6, 2026

By Gopika Balasubramanium

MUMBAI – Derivative analysts point at selling pressure at the higher levels of Nifty 50 in the near-term and expect the index to be rangebound in the upcoming sessions. Analysts expect traders to continue their buy-on-dips strategy and see holding above 26100 points as important. A breach of this important level lead to the 50-stock index to slide much lower levels, souring the sentiment in the market. While the Street would continue to focus on December quarter earnings, some fundamental analysts see closure of India-US trade deal to be key for upside. 

A significant open interest build-up of contracts at 26000 put strike firmly establishes this level as immediate support, said Dhupesh Dhameja, derivatives research analyst at SAMCO Securities, in a note. Conversely, the addition of call contracts at the 26200 strike has emerged as a key near-term resistance, he added. The put-call ratio has slipped to 0.73, indicating heightened caution and increased seller presence at higher levels, he said.

Options chain showed addition of short positions by call writers at 26000-26150 in-the-money and at-the-money strikes for call contracts expiring next week. That said, the premiums at higher call strikes between 26500 and 26700 declined 53-54%, indicating limited upside. The maximum addition as well as concentration of open interest was at 26500 strike for call side. On other hand, 25500 put strike expiring next week saw the highest addition as well as concentration of contracts. Some traders also bought contracts between 26150 and 26200 put. Tuesday, the Nifty 50 ended at 26178.70 points, down 71.60 points or 0.3%. 

--Nifty 50 January closed at 26281.90, down 49.40 points; 103.20-point premium to the spot index

--Nifty 50 February closed at 26425.00, down 52.20points; 246.30-point premium to the spot index

--Nifty 50 March closed at 26610.00, down 47.40 points; 431.30-point premium to the spot index

Reliance Industries, ICICI Bank, HDFC Bank, Trent, ITC, Indian Energy Exchange, Hindalco Industries, Bharat Dynamics, National Aluminium Co., State Bank of India, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Dixon Technologies (India), Tata Steel, Multi Commodity Exchange of India, Hindustan Zinc, Vedanta, Federal Bank, Bharti Airtel, BSE, Kaynes Technologies, Tata Consultancy Services were the most actively traded underlying stocks. End

Edited by Akul Nishant Akhoury

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.