Futures & Options (F&O) highlights for today, 24th July, 2025

Short covering being seen in Nifty and Bank Nifty futures

Create Longs with stop loss (SL) at 25150 Levels

After a gap-up opening, fuelled by strong global cues, the Nifty faced some initial profit booking during the first half an hour yesterday, 23^rd July. However, the dip was short-lived. Post 9:50 AM, the Nifty resumed its upward trajectory and maintained a strong uptrend throughout the day. The benchmark finally settled the session with a gain of 159 points, or 0.63%, closing at 25,219, marking its highest close since July 10th, 2025.

Short Covering was seen in Nifty Futures where Open Interest fell by 1.37% with Nifty rising by 0.63%.

Short Covering was seen in the Bank Nifty Futures where Open Interest fell by 4.89% with Bank Nifty rising by 0.80%.

Nifty Open Interest Put-Call ratio rose to 1.14 levels from 0.84 levels.

Amongst the Nifty options (24-Jul Expiry), Call writing is being seen at 253 00-25400 levels, indicating Nifty is likely to find strong resistance in the vicinity of 25300-25400 levels. On the lower side, an immediate support is placed in the vicinity of 25100-25200 levels where we see Put writing.

Short covering was seen from the side of FIIs in the Index Futures segment where they net bought contracts worth 760 crore with their Open Interest going down by 63 contracts.

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Source: HDFC Securities Prime Research