The resistance level rose by 1,000 points to 26,500CE, while the support level remained at 24,000PE for two weeks in a row.

The 26,500CE has highest Call OI followed by 25,100/ 25,500/ 25,300/ 25,400/ 26,200/ 26,100/ 25,800/25,300/ 25,400 strikes, while 25,100/ 26,500/ 25,900/ 25,200/ 26,550 strikes recorded significant build-up of Call OI. There was no OI fall on Call strikes.

Coming to the Put side, maximum Put OI is seen at 24,000PE followed by 23,050/ 24,500/ 24,800/ 23,500/ 23,800/ 24,200/ 23,100/ 24,150 strikes holding a reasonable addition of Put OI.

Put ITM strikes in the 25,100-25,600 range witnessed moderate 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 25,200 and 25,100 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 57,000 strike, whereas notable Put Open Interest at the 56,000 strike.” Call writing was relatively higher when compared with Puts and noteworthy OI positions were at OTM Call strikes. Put OI additions were moderate and the highest Put option base is placed at 24,000 strike below which weakness is likely to extend in the coming sessions.

“Global uncertainty continued to linger last week, and weak earnings than expected added pressure on Indian markets. As a result, both Nifty and Bank Nifty ended the week in the red note. Nifty slipped over 0.70 per cent, while Bank Nifty underperformed with a loss of more than 0.80 per cent. Private banks, IT, and financial services were the major draggers, whereas sectors like media, realty, and capital markets showed some strength and closed in green,” added Bisht.

For the week ended July 18, 2025, BSE Sensex closed at 81,757.73 points, a fall of 742.74 points or 0.90 per cent, from the previous week’s (July 13) closing of 82,500.47 points. NSE Nifty too declined by 180.45 points or 0.71 per cent to 24,968.40 points from 25,149.85 points a week ago.

Bisht forecasts: “Both Nifty and Bank Nifty ended the week below their rollover levels. For Nifty, key supports are at 24,800 and 24,600, while resistance is seen near 25,300 and 25,500. Traders should closely watch the psychological mark of 25,000 level if Nifty manages to close above it, we could see a short-term bounce. But if it keeps trading below this level, the market may face more downside pressure.”

Bank Nifty

Bank Nifty NSE’s banking index closed the week at 56,283 points, 471.70 or 0.83 per cent lower from the previous week’s closing of 56,754.70 points.