Options Data Holds Sideways Trading

The 26,000CE has highest Call OI followed by 26,800/ 26,500/26,600/ 26,100/ 25,800/ 25,900/ 25,800/ 25,700/ 25,400/ 25,000 strikes, while 25,500/ 25,600/ 25,900/ 25,400 strikes recorded heavy build-up of Call OI. Call Deep ITM strikes from 24,850PE witnessed marginal OI fall.

Coming to the Put side, maximum Put OI was at 24,000PE followed by 23,500/ 23,700/ 23,800/ 24,200/ 24,500/ 24,600/ 24,800/ 25,000 strikes. Further, 25,000/24,900/ 24,700/ 24,600/ 24500/ 24,300/ 23,800 strikes hold moderate to reasonable addition of Put OI. Minute Put OI decline is visible at 22,350/22,650/22,700 strikes.

Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, said: “In the derivatives market, prominent Call Open Interest for Nifty seen at the 25,000 and 25,500 strike, while the notable Put Open Interest was at the 25,000 and 24,800 strike. For Bank Nifty, the prominent Call Open Interest was seen at the 56,000 and 57,000 strikes, whereas notable Put Open Interest at the 56,000 strike.”

“On Friday, the central bank surprised the market with a 50 basis point rate cut, triggering a sharp rally in Indian equities. On the weekly chart, Nifty rose over one per cent, while Bank Nifty outperformed with gains of around 1.5 per cent. Among sectors, realty, capital markets, and small caps led the gains, while media and IT stocks ended in the red,” added Bisht. For the week ended June 6, 2025, BSE Sensex closed at 82,188.99 points, a gain of 737.98 points or 0.90 per cent, from the previous week’s (May 30) closing of 81,451.01 points. NSE Nifty too moved up by 252.35 points or 1.01 per cent to 25,003.05 points from 24,750.70 points a week ago.

Bisht forecasts: “Nifty is currently trading near the psychological level of 25,000 points. If it holds above this mark, it may head towards 25,200 and 25,400 levels. Support is placed at 24,800 as long as this level holds, the market can be considered as a buy-on-dips market.”

“Implied Volatility for Nifty’s Call options settled at 14.38 per cent, while Put options concluded at 15.41 per cent. The India VIX, a key market volatility indicator, closed the week at 15.08 per cent. The Put-Call Ratio of Open Interest (PCR OI) for the week was 1.03,” remarked Bisht.

India VIX fell three per cent to 14.63 level.

Bank Nifty

Bank Nifty NSE’s banking index closed the week at 56,578.40 points, a rise of 978.38 or 1.75 per cent from the previous week’s closing of 55,600.02 points.