Key Events This Week
29 Jun: Sharp open interest surge amid mixed market signals
1 Jul: Continued open interest rise with modest price gains
2 Jul: Intraday high of Rs.1,854.5 with strong 3.09% surge
2 Jul: Surge in call option activity ahead of July expiry
3 Jul: Call option activity intensifies amid bullish momentum
29 June 2026: Sharp Open Interest Surge Amid Mixed Signals
Bajaj Finserv began the week with a notable 11.24% increase in open interest in its derivatives segment, rising from 88,560 to 98,518 contracts. This surge indicated heightened market activity despite the stock’s underlying price showing a slight decline of 0.15% on the day. The futures segment recorded a value of approximately ₹1,02,370 lakhs, while options accounted for ₹23,241.13 crores, underscoring strong liquidity and trader interest.
Technically, the stock traded above its 20-day moving average but remained below its 5-day, 50-day, 100-day, and 200-day averages, reflecting a mixed technical picture. Delivery volumes declined by 17.56%, suggesting some profit-booking or reduced conviction among long-term holders. Despite this, the derivatives market activity hinted at evolving directional bets, possibly anticipating a rebound or increased volatility.
30 June 2026: Price Gains Begin as Sensex Holds Steady
On 30 June, Bajaj Finserv’s stock price rose 1.31% to Rs.1,783.00, outperforming the Sensex which dipped marginally by 0.01%. This marked the start of a positive price trend supported by the previous day’s derivatives activity. Volume nearly doubled to 49,990 shares, indicating renewed investor interest. The stock’s relative strength versus the broader market suggested early signs of momentum building.
1 July 2026: Continued Open Interest Rise and Modest Price Gains
The stock extended its gains on 1 July, climbing 0.82% to Rs.1,797.65 amid an 11.33% increase in open interest from 63,162 to 70,318 contracts. Total derivatives volume was robust at 40,762 contracts, with futures and options turnover reaching ₹32,279.8 lakhs. Despite the price rise, delivery volumes fell by 30.01%, indicating that speculative activity was driving the move rather than long-term accumulation.
Technically, Bajaj Finserv traded above its 5-day, 20-day, and 50-day moving averages but remained below the 100-day and 200-day averages, signalling short-term bullishness tempered by longer-term resistance. The stock outperformed both the Sensex (+0.45%) and its sector (+0.91%) on the day, reflecting relative strength.
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2 July 2026: Intraday High and Surge in Call Option Activity
Bajaj Finserv demonstrated strong intraday momentum on 2 July, surging 3.09% to an intraday high of Rs.1,854.5 and closing at Rs.1,856.15. This gain outpaced the Sensex’s 0.71% rise and the sector’s 1.82% advance, highlighting the stock’s leadership within the holding company segment. The three-day consecutive gain streak brought cumulative returns to 4.65%, signalling sustained positive momentum.
Technically, the stock traded above its 5-day, 20-day, 50-day, and 100-day moving averages but remained below the 200-day average, indicating some longer-term resistance. The Moving Average Convergence Divergence (MACD) and other indicators showed mild bullishness on weekly charts, though monthly signals were mixed.
Notably, Bajaj Finserv emerged as the most actively traded stock in call options ahead of the 28 July expiry. The ₹1,800 strike call options saw 8,318 contracts traded with an open interest of 1,798 contracts, reflecting bullish positioning. Delivery volumes rose sharply by 56.31% to 10.47 lakh shares, indicating genuine accumulation alongside speculative interest.
3 July 2026: Call Option Activity Intensifies Amid Bullish Momentum
The bullish trend continued on 3 July, with Bajaj Finserv’s stock price rising 2.13% to close at Rs.1,895.75, marking a four-day winning streak and an impressive 8.26% return over this period. The stock outperformed the Sensex’s 0.15% gain and the sector’s 1.03% advance. Intraday, it touched a high of Rs.1,909, further extending its recent highs.
Call option activity remained robust, with the ₹1,900 strike price attracting 4,648 contracts and an open interest of 1,312 contracts. This concentration near the current market price suggests expectations of further upside before expiry. Delivery volumes increased by 12.75% to 8.71 lakh shares, reinforcing the narrative of genuine investor interest.
Despite the strong price action and options market enthusiasm, Bajaj Finserv’s Mojo Score remains at 47.0 with a Sell grade, reflecting caution due to fundamental concerns and the stock’s position below the 200-day moving average. This mixed technical and fundamental backdrop suggests that while momentum is building, investors should remain vigilant.
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Daily Price Comparison: Bajaj Finserv vs Sensex (29 June – 3 July 2026)
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-06-29 | Rs.1,759.95 | - | 35,960.98 | - |
| 2026-06-30 | Rs.1,783.00 | +1.31% | 35,958.71 | -0.01% |
| 2026-07-01 | Rs.1,797.65 | +0.82% | 36,119.01 | +0.45% |
| 2026-07-02 | Rs.1,856.15 | +3.25% | 36,376.02 | +0.71% |
| 2026-07-03 | Rs.1,895.75 | +2.13% | 36,431.45 | +0.15% |
Key Takeaways
Strong Derivatives Activity: The consistent surge in open interest and call option volumes throughout the week highlights active speculative and hedging interest, signalling expectations of further price appreciation ahead of the July expiry.
Outperformance vs Sensex: Bajaj Finserv’s 7.72% weekly gain far exceeded the Sensex’s 1.31%, reflecting relative strength and leadership within its sector.
Mixed Technical Signals: While the stock has moved above several short- and medium-term moving averages, resistance at the 200-day average remains a key hurdle, warranting cautious optimism.
Fundamental Caution: The Mojo Grade Sell rating and a Mojo Score of 47.0 indicate underlying fundamental concerns, suggesting investors should balance bullish momentum with risk management.
Increasing Investor Participation: Rising delivery volumes on 1 and 2 July indicate genuine accumulation alongside speculative trading, supporting the sustainability of recent gains.
Conclusion
Bajaj Finserv Ltd’s week was characterised by robust price gains, strong derivatives market activity, and growing investor participation, culminating in a 7.72% rise that outpaced the broader market. The surge in call option volumes ahead of the 28 July expiry reflects bullish sentiment, while technical indicators suggest short- to medium-term strength tempered by longer-term resistance. Despite this momentum, the fundamental Sell rating advises caution, underscoring the importance of monitoring price action and open interest trends closely. Overall, the stock’s performance this week highlights a complex interplay of optimism and prudence among market participants.
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