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Published on 17-07-2026 09:45 am

Comments:

Nifty weekly contract has the highest open interest at 24200 CE and 23000 PE while monthly contracts have the highest open interest at 25000 CE and 24000 PE. The highest OI addition was seen at 24800 CE and 23000 PE in weekly and at 24500 CE and 23500 PE in monthly contracts. FIIs decreased their future index long holdings by 3.56%, decreased future index shorts by 4.76% and in index options, 6.57% increase in Call longs, 2.37% increase in Call short, 2.83% increase in Put longs and 8.64% increase in Put shorts.

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Published on 17-07-2026 09:41 am

Nifty Outlook

Successive days of lacklustre trades combined with shrinking trading range, has brought about a triangular formation that points to a potential range breakout. However, directional clarity is missing and we are likely to see volatility first, before directional bias sets in. Towards this end, we will continue to eye the 23940-24270 range, aiming for upswings as the starting bias.

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Published on 16-07-2026 06:15 pm

Global Market Update

• European Market - European stocks fell as the second-quarter reporting season got underway. Rotork Plc surged 66% after ABB Ltd. agreed to buy the British industrial components maker. UK, Germany and France Index declined up to 0.5%.

• Asian Market - Asia-Pacific equities were mixed, with chip stocks leading declines as concerns about the longevity of artificial-intelligence enthusiasm weighed on market sentiment%. Both South Korea and Japan Index declined 6% and 2.8% respectively while Hong Kong Index gained 1.4%.

• US Data - Retail Sales and Jobless Claims.

• Commodity - Oil steadied after a three-day rally as the US carried out another round of airstrikes on Iran following a series of shipping attacks by the Islamic Republic this week. Global benchmark Brent traded below $85 a barrel after gaining 12% in the previous three sessions.

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Published on 16-07-2026 06:14 pm

Indian passenger vehicle sales hit record high - Automobile industry posted record first-quarter sales across all major segments in the April-June 2026 period, driven by lower vehicle costs, taxation reform and easier financing, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on July 15. Passenger vehicle sales reached 1.27mn units, up 25.9% y/y, marking the segment's strongest-ever Q1 performance.

• TCS, Google Cloud open Gemini Experience Center in Kolkata to boost agentic AI adoption – Company and Google Cloud have launched a Gemini Experience Center (GEC) in Kolkata focused on the consumer business sector, as the IT services company expands its industry-specific artificial intelligence innovation hubs globally. The Kolkata facility is TCS' eighth Gemini Experience Center worldwide and its third in India.

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Published on 16-07-2026 06:12 pm

Derivative Outlook:

• Nifty future closed positive with gains of 0.15% at 24103 levels. Positive setup seen in ABB, Dixon, SRF, PGEL, Hyundai, Indigo, Bajaj Finance, Lodha, Sonacoms and Biocon while weakness seen in ICICIGI, HDFC AMC, Policy Bazaar, Kfintech, MCX, National Aluminum, MFSL, BSE, CAMS and Oil India.

• On option front, Maximum Call OI is at 24200 then 24100 strike while Maximum Put OI is at 24000 then 24100 strike. Call writing is seen at 24150 then 24100 strike while Put writing is seen at 24100 then 24050 strike. Option data suggests a broader trading range in between 23800 to 24500 zones while an immediate range between 23900 to 24300 levels

• Biocon Malaysia Facility Gets European Nod for New Insulin Line – Company has received approval from the European Medicines Agency for a new drug product fill finish line for Semglee at its manufacturing facility in Malaysia.

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