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Informist, Wednesday, May 27, 2026

By Gopika Balasubramanium

MUMBAI – On Wednesday, traders gave up their positions built in the options chain of Nifty 50, writing both put and call contracts simultaneously, indicating that the bet on index's movement for the near term is seen in a range. The index moved between gains and losses throughout the session on Wednesday, within a band of around 120 points.  

The Nifty 50 closed at 23907.15 points, down 6.55 points. The index was constantly under selling pressure and has failed to surpass the 24000 points for the second session in a row. During this week, the index has remained in a narrow range.   

The June series of Nifty 50 is likely to remain in a band of 23000 points and 24500 points, Axis Securities said in a monthly rollover report. The 24000 level is expected to serve as the key pivot, driven by significant activity on both the call and the put sides, the broking firm said.

Foreign investors unwound 9,775 short positions in the Nifty 50 index and modestly added 8,038 long positions, the report said. This balanced positioning reflects improvement of risk appetite of these investors, with a willingness to build fresh bullish exposure rather than focusing solely on downside protection amid the ongoing market volatility.

Wednesday, traders wrote call contracts expiring next week at most strike prices. At deep out-of-the-money call options at strike prices between 25000 and 24000, traders went short. The call contracts at 25000, 24500, and 24000 strike prices saw about 3 million contracts each being written. Additionally, they bought calls at in-the-money strikes such 23000 and 23500, but the premiums were very scant. The open interest at these were between 69,000 and 131,000. 

At the 25000-strike call, the premium fell over 45% and more than 3 million short bets were added. The premum was very low at INR 2.85 for the said strike price. The strike price also saw the maximum addition of open interest and highest concentration. The premium was relatively more for 23900 call at INR 188.20, after having fallen 9%.

Traders sold deep out-of-the-money put contracts expiring next week, across board, with a sharp fall in premium at almost all the strike prices. They sold their positions on the put side at strike prices such as 23000 and 23200. This indicates that the headline index is unlikely to see a steeper fall. The premiums at such levels were very meagre.

At 23900 put, the premium was INR 123.8 and at 24000 put was INR 170.70. The highest addition of open interest was seen at the 23900-strike put. The maximum concentration of open interest was unchanged from Tuesday the 23000 put.

--Nifty 50 June closed at 24006.20, up 27.30 points; 99.05-point discount to the spot index

--Nifty 50 July closed at 24100.60, up 35.90 points; 193.45-point premium to the spot index

--Nifty 50 August closed at 24220.00, down 52.30 points; 312.85-point premium to the spot index

Coal India, HDFC Bank, BSE, Cummins India, Adani Enterprises, ICICI Bank, Multi Commodity Exchange of India, Adani Power, Adani Energy Solutions, and Hindalco Industries were the most actively traded underlying stocks on Wednesday.  End

Edited by Akul Nishant Akhoury

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