Options data denotes sideways trading

Theresistance level remained at 26,000CE for a third consecutive week, while the support level rose by 1,200 points to 25,000PE based on the latest options data available on NSE after the last Friday session. Implied Volatility (IV) fell by over 40 per cent at the highest Put OI base, which indicates easing pressure on price fall, and it fell on the Call OI side.

The 26,000PE has highest Call OI followed by 25,500/ 25,000/ 27,000/ 30,000/ 26,500/ 25,800/ 26,100/ 25,200 strikes, while 25,400/ 26,000/ 27,000/ 25,600/ 30,000 strikes. Call ITM strikes from 24,900 inwards witnessed a decline in Open Interest. Coming to the Put side, maximum Put OI was visible at 25,000PE followed by 24,000/ 24,200/ 24,700/ 24,900/ 25,100/ 23,900/ 24,300/ 24,500 strikes. Further, 25,000/ 25,100/ 24,800/ 24,700/ 24,400/ 24,100 strikes recorded reasonable addition of Put OI. Only four Put deep ITM strikes suffered moderate OI decline.

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 25,500 and 25,300 strikes, 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 57,000 and 56,500 strikes, whereas notable Put Open Interest at the 56,000 strike.”

“Broader indices Nifty and Bank Nifty ended the week on a positive note, despite ongoing tensions between Iran and Israel. On the weekly chart, Nifty rose by 1.59 per cent and Bank Nifty gained 1.31 per cent. Domestic factors such as a decline in India’s wholesale inflation and the RBI’s relaxation of lending norms supported the market’s upward momentum amid Middle East concerns. Sector-wise, infrastructure, private banks, and auto stocks led the gains, while media, pharma, and small-cap stocks closed in the red,” observed Bisht. For the week ended June 20, 2025, BSE Sensex closed at 82,408.17 points, a recovery of 1,289.57 points or 1.58 per cent, from the previous week’s (June 13) closing of 81,118.60 points. NSE Nifty too moved up by 393.80 points or 1.59 per cent to 25,112.40 points from 24,718.60 points a week ago.

Bisht forecasts: “Nifty is currently trading near its resistance level of 25,200. A breakout above this level could lead to a further move towards 25,500. On the downside, immediate support is placed at the psychological level of 25,000, followed by strong support at 24,800. As long as Nifty holds above 24,800, the market can be considered a buy-on-dips.” India VIX fell 4.09 per cent to 13.67 level. PCRof OI indicates a slightly bearish market sentiment. “Implied Volatility for Nifty’s Call options settled at 13.51 per cent, while Put options concluded at 14.06 per cent.

Bank Nifty

Bank Nifty NSE’s banking index closed the week at 56,252.85 points, a gain of 725.50 or 1.30 per cent from the previous week’s closing of 55,527.35 points.