Recent options data from the NSE following last Friday’s session indicates that the resistance level has stayed at 26,000CE for three consecutive weeks, while the support level has slightly increased by 300 points to 25,500PE, despite a decline in Call OI. The highest Call OI is recorded at the 26,000CE, followed by strikes at 25,800, 25,900, 26,500, 26,300, 26,100, 25,750, 25,700, and 26,200, with notable additions in Call OI at 26,000, 25,900, 25,800, 25,850, and 26,300. However, ITM Call strikes from 25,700 and below have seen a slight decrease in Call OI, and a moderate decline is also observed in deep Call OTM strikes within the 27,000-27,100 range.
On the Put side, the highest Put OI is noted at 25,500PE, followed by 25,000, 25,200, 24,500, 25,600, 25,700, 26,650, 25,400, 25,100, 24,900, 24,800, and 24,600 strikes. Furthermore, there has been moderate accumulation of Put OI at the 25,700, 25,750, 25,500, 25,800, 25,650, 25,600, and 26,500 strikes, while OTM Put strikes from 25,450 to 22,850 have experienced offloading of Put OI. Dhirender Singh Bisht, associate vice-president (technical research-equity) at SMC Global Securities Ltd, stated that the highest Call Open Interest for Nifty was observed at the 26,000 and 25,800 strike levels, with notable Put OI concentrated at the 25,500 and 25,600 strikes.
Currently, Nifty is trading at its highest level in over the past three months, and analysts predict that it may maintain its positive momentum, potentially rising to the 25,800 level. The support area is anticipated to be between 25,300 and 25,200. Last week, Nifty surpassed its major trading range support due to broad-based buying. The Indian market concluded the week positively, with Nifty reaching a 52-week high and Bank Nifty achieving a new all-time high. Easing lending norms by the central bank have heightened expectations for strong earnings and growth, particularly in the consumption sector for the upcoming quarters. Capital markets and FMCG sectors were the leading gainers, while Media, IT, and PSU Banks finished the week negatively.
For the week ending October 19, 2025, the BSE Sensex closed at 83,952.19 points, reflecting a net recovery of 1,451.37 points or 1.75 percent from the previous week’s closing of 82,500.82 points. Similarly, NSE Nifty rebounded by 424.50 points or 1.67 percent to close at 25,709.85 points, up from 25,285.35 points a week prior. Bisht forecasts that on the daily chart, Nifty has closed above its upward channel, indicating a sustained bullish trend. The Bank Nifty’s rise to a new all-time high further emphasizes the market’s underlying strength. In the upcoming sessions, several significant earnings announcements are expected, which could affect short-term market direction.
Immediate support for Nifty is identified in the 25,200–25,400 range, and as long as the index remains above this level, the bullish outlook persists, prompting traders to adopt a ‘buy on dips’ strategy. Resistance levels are expected in the 26,000–26,200 range. The India VIX increased by 7.36 percent to 11.66, and is anticipated to rise to the 12 level due to global market uncertainties, suggesting likely consolidation within the 12-10 range. Implied Volatility for Nifty’s Call options settled at 9.91 percent, while Put options concluded at 10.56 percent. The India VIX, a crucial indicator of market volatility, ended the week at 10.86 percent.
The Bank Nifty, NSE’s banking index, closed the week at 57,713.35 points, reflecting a rise of 1,103.60 or 1.94 percent from the previous week’s closing of 56,609.75 points. Significant Call OI was noted at the 58,000 strike, with considerable Put OI at the 57,000 strike, according to Bisht.
