RisingImplied Volatility (IV) on Put options is signaling undercurrent concerns among investors about price drops. The latest options data on NSE is pointing to a decline of 500 points in resistance level to 24,500PE, while the support level too fell 1,400 points to 22,800PE. The 24,500CE has highest Call OI followed by 25,500/25,000/ 24,600/ 24,800/ 25,300/ 25,600/ 24,900 strikes, while 24,500/ 24,600/ 25,000/ 24,700/ 24,800/ 24,650/ 24,400 strikes recorded significant build-up of Call OI. And no Call OI fall is visible.

Coming to the Put side, maximum Put OI is seen at 22,800PE followed by 23,000/ 23,200/ 23,600/ 23,700/ 24,200/ 24,300/ 24,400/ 24,450/ 24,500 strikes. Further, 22,800/ 23,000/ 23,200/ 23,700/ 22,850 strikes witnessed reasonable addition of Put OI. Deep Put ITM strikes from 24,550 inwards held minor OI fall.

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 24,500 and 24,600 strike, while the notable Put Open Interest was at the 24,300 and 24,000 strike. For Bank Nifty, the prominent Call Open Interest was seen at the 56,000 strike, whereas marginal Put Open Interest at the 54,000 strike.”

Call options held significant writing at ATM and OTM strikes due to persistent selling pressure during the last week. The week ahead is likely to witness selling pressure at the higher levels, while the Put base is substantially lower.

“Market sentiment remained shaky throughout the week, leading to a negative close. Investors were on edge due to ongoing uncertainties around trade deal, traffic, and expectations of weak quarterly earnings. As a result, the Nifty slipped by 0.82 per cent over the week, while the Bank Nifty fell by 1.1 per cent. Sectors like pharma, realty, and FMCG weighed on the indices, dragging them lower. On the other side, media, PSU banks, and metal stocks showed some strength and managed to end the week in the green,” added Bisht.

For the week ended August 10, 2025, BSE Sensex closed at 79,857.79 points, a further fall of 742.12 points or 0.92 per cent, from the previous week’s (August 1) closing of 80,599.91 points. NSE Nifty too declined by 202.05 points or 0.82 per cent to 24,363.30 points from 24,565.35 points a week ago.

Bisht forecasts: “Nifty is currently trading below its 100-day EMA, but still holding above the 200 EMA, suggesting that the long-term trend remains intact. In contrast, Bank Nifty is trading above both the 100 and 200 EMAs, indicating continued strength in the banking sector. Looking ahead, the psychological level of 24,000 will be a key support for Nifty. A break below this could lead to a retest of the 23,800 level. On the upside, the 24,600–24,700 zone is likely to act as a strong resistance. Traders are advised to stay alert to any major geopolitical developments, as these could play a crucial role in shaping the market’s next move.”

Put-Call ratio of Open Interest is pointing to speculative bets by investors to hedge their portfolios in case of a sell-off. India VIX rose 3.68 per cent to 12.12 level.

“Implied Volatility for Nifty’s Call options settled at 10.22 per cent, while Put options concluded at 10.92 per cent. The India VIX, a key indicator of market volatility, concluded the week at 11.69 per cent. The Put-Call Ratio of Open Interest stood at 0.96 for the week,” remarked Bisht.

Bank Nifty

Bank Nifty NSE’s banking index closed the week at 55,004.90 points, 612.70 or 1.10 per cent lower from the previous week’s closing of 55,617.60 points.