Adani shares, MFSL saw long build-up last week; Ramco, Tata Tech F&O shorts

According to data from the NSE F&O segment, Tube Investments of India and PI Industries witnessed some short-covering in the week ended March 13, 2025.

Derivative Market Update: Last week, Nifty March futures ended with a loss of 0.9 per cent at 22,444. The contract closed at 47 points premium as against the spot Nifty at 22,397. The open interest (OI) in the March contract dropped by 2.7 per cent.  In Nifty options, the 22,200 – 22,500 region has seen significant accumulation of both CALLS and PUTS, setting the stage for a classic tug-of-war scenario, says Dhupesh Dhameja, Derivatives Analyst of SAMCO Securities.  PUT writers continue to increase exposure at lower levels, reinforcing a strong demand zone. The Put-Call Ratio (PCR) dipped from 0.86 to 0.70, reflecting a slight bearish tilt as traders added short positions. The Max Pain level at 22,400 suggests that bulls are attempting to absorb selling pressure, preventing a sharp directional move, the analyst added.  Meanwhile, the Bank Nifty March futures slipped 1.1 per cent to 48,160, on the back of 6.1 per cent increase in OI. Similarly, the MidCap Nifty futures shed 2.9 per cent along side a 2.9 per cent rise in OI.  In the case of Bank Nifty, a decisive breakout above 48,500 is essential to trigger a sustained rally. As long as the index sustains above 47,800, buying on dips remains a favourable strategy, with 48,500 serving as the key breakout level, said Dhupesh Dhameja.    Among stocks Ramco Cements and Tata Technologies saw fresh short build-up, as the former March stock futures declined 8.1 per cent, and the latter 5.4 per cent backed by a 36.6 per cent and 33.2 per cent jump in OI.  Apart from these two stocks - IREDA, Patanjali, IIFL, Sona BLW Precision Forgings (Sona Coms) and Hindustan Petroleum also witnessed a selling bias, as these shares declined in the range of 2 - 7 per cent, along side a 17 - 19 per cent increase in OI.  Buying interest was visible in stocks like - Max Financial Services, Adani Green, Adani Energy Solutions and Solar Industries - these stocks rallied up 6 per cent, with a minimum 13 per cent growth in OI. Max Financial saw the maximum OI rise at 39.2 per cent.  On the other hand, Tube Investments of India and PI Industries witnessed short-covering, as these stocks jumped up to 8 per cent while the OI dipped 21.3 per cent and 11.8 per cent, respectively.