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Axis Securities backs a bull call spread for Nifty 28 July expiry

For the 28 July 2026 contracts, the firm pegs the strategy’s maximum potential risk at ₹6,435 and maximum potential reward at ₹9,815, with an ATM premium of ₹363.

Reported · Written up by our desk · North America

India’s Nifty 50 and Sensex edged lower on Tuesday as selling weighed on IT and banking stocks, with the BSE Sensex down 283.28 points, or 0.36%, to 77,425.24, and the NSE Nifty 50 down 76.15 points, or 0.31%, to 24,162.35.

Options positioning showed the highest call open interest at the 24,500 strike, followed by 24,300, while puts saw the highest open interest at 24,200 and then 24,000, which the firm flagged as potential resistance and support levels.

Axis Securities recommended a bull call spread for Nifty options expiring 28 July 2026, describing it as a fit for a moderately bullish outlook, and outlining a structure that buys the 24,250 call and sells the 24,500 call with the same expiry.

The brokerage said the strategy’s maximum potential risk is ₹6,435 and the maximum potential reward is ₹9,815, and pointed to an at-the-money premium of ₹363 as consistent with a likely weekly trading range of 23,800 to 24,650.

Latest closeSensex 77,185.43 ▲0.2%

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