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Published on 12-10-2026 10:11 am

Our Research View: OPT MANI/OC - BUY SENSEX 72000 PE 15 OCT 2026 @ 340  TGT1 415  TGT2 500  SL 270  (Exp Retn 47%   Reco Lot 1) 

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Published on 12-10-2026 10:10 am

Market Outlook

During the last week, the Indian market witnessed an uptick in volatility but remained broadly range-bound. The Nifty 50 retested its April low of 22,180 even after a positive start to the week and recorded a weekly gain of 0.44%. The banking index outperformed the broader market, closing with gains of 1.48%. On the derivatives front, the 22,500 zone emerged as a key contention area due to significant call and put writing activities. On the upside, substantial Call writing at 22,800 and 23,000 suggests an immediate overhead resistance zone. Meanwhile, significant Put writing at 22,200 and 22,000 indicates crucial support zones, which could help limit further downside in the near term.

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Published on 12-10-2026 10:09 am

BANKNIFTY

* The banking index ended Friday on a firm note, securing a positive weekly close after six consecutive weeks of decline.

* Following a gap-up opening, the index sustained its upward momentum throughout the session and approached the 20-DEMA on the daily chart.

* Broad-based strength prevailed across constituents, while IndusInd Bank witnessed mild profit booking.

* Immediate resistance is placed near 56,000, with crucial support emerging around the 53,800 mark.

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Published on 12-10-2026 10:09 am

NIFTY

* Nifty staged a strong recovery on Friday, taking a breather after the sharp sell-off in the previous session.

* Following a positive opening, the benchmark indices extended their gains through the session, with the Nifty reclaiming the 22,500 mark and the Sensex trading around 72,470.

* Technically, the 22,700–22,800 zone is likely to act as the immediate hurdle for the Nifty, followed by the 23,000 mark.

* On the downside, the 22,200–22,300 zone remains an important support area, and a decisive break below it could trigger renewed selling pressure.

* Participants should remain selective, maintain disciplined position sizing and favour a hedged approach amid elevated macroeconomic and earnings-related uncertainty.

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Published on 12-10-2026 10:05 am

Comments:

Nifty weekly contract has the highest open interest at 23000 CE and 22500 PE while monthly contracts have the highest open interest at 23500 CE and 23500 PE. The highest OI addition was seen at 22900 CE and 22500 PE in weekly and at 23600 CE and 22500 PE in monthly contracts. FIIs increased their future index long holdings by 10.64%, decreased future index shorts by 2.88% and in index options, 18.60% decrease in Call longs, 10.89% increase in Call short, 17.05% decrease in Put longs and 54.28% increase in Put shorts.

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