Key Events This Week
9 Feb: Stock opens at Rs.14,979.50, down 0.15% despite Sensex rising 1.04%
10 Feb: Surge in call and put option activity with bullish and bearish hedging
11 Feb: Continued call option volume spike near key strike prices
12-13 Feb: Price retreats slightly, closing week at Rs.15,227.40 (+1.51% weekly)
9 February: Opening Dip Amid Broad Market Rally
Maruti Suzuki began the week with a slight decline of 0.15%, closing at Rs.14,979.50, while the Sensex surged 1.04% to 37,113.23. This divergence suggested early-week caution among investors despite positive market sentiment. The stock’s volume was moderate at 7,431 shares, indicating a tentative start. The automobile sector’s performance was mixed, with Maruti Suzuki lagging behind broader indices on this day.
10 February: Divergent Derivatives Activity Signals Mixed Sentiment
On 10 February, Maruti Suzuki witnessed a remarkable surge in both call and put option volumes, reflecting a complex market outlook. The stock price rebounded strongly by 1.17% to Rs.15,154.95, outperforming the Sensex’s modest 0.25% gain. Call options at the ₹16,000 strike price saw 12,395 contracts traded, generating turnover of approximately ₹28.48 crores, signalling bullish positioning among traders anticipating upside potential.
Simultaneously, put options at the ₹15,000 strike price recorded 6,714 contracts, with a turnover of ₹473.17 lakhs, indicating significant bearish hedging or protective strategies. This dual activity suggests investors were balancing optimism with caution ahead of the February expiry. The underlying stock price hovered near these strike levels, reinforcing the importance of these price points as key battlegrounds for market sentiment.
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11 February: Call Option Activity Peaks Amid Price Gains
Maruti Suzuki continued its upward momentum on 11 February, gaining 1.70% to close at Rs.15,412.75, marking the week’s highest closing price. This advance outpaced the Sensex’s 0.13% rise but slightly lagged the automobile sector’s 1.82% gain. The derivatives market remained active, with call options at ₹15,300 and ₹15,500 strikes seeing 10,860 and 11,846 contracts traded respectively, generating turnovers exceeding ₹24 crores combined.
Open interest at these strikes was substantial, indicating sustained bullish sentiment among traders expecting the stock to consolidate or break higher ahead of the 24 February expiry. Despite this, the stock remained below its 50-day and 100-day moving averages, suggesting resistance levels that could temper further gains. Delivery volumes declined sharply, signalling reduced long-term holder conviction and increased speculative activity.
12-13 February: Price Correction and Market Volatility
The final two trading days saw Maruti Suzuki retreat slightly, closing at Rs.15,323.75 (-0.58%) on 12 February and Rs.15,227.40 (-0.63%) on 13 February. These declines coincided with a broader market sell-off, as the Sensex fell 0.56% and 1.40% respectively, reflecting increased volatility and profit-taking. The stock’s volume also tapered, with 5,790 shares traded on 12 February and 3,799 on 13 February, indicating cautious investor participation.
This pullback followed the earlier gains and active options trading, suggesting that traders were adjusting positions ahead of the expiry. The stock’s technical setup remained mixed, with support from short-term moving averages but resistance from medium-term averages. The week closed with Maruti Suzuki outperforming the Sensex by 2.05%, underscoring its relative strength despite the late-week weakness.
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Daily Price Comparison: Maruti Suzuki vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.14,979.50 | -0.15% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.15,154.95 | +1.17% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.15,412.75 | +1.70% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.15,323.75 | -0.58% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.15,227.40 | -0.63% | 36,532.48 | -1.40% |
Key Takeaways
1. Mixed Derivatives Activity Reflects Balanced Market Views: The simultaneous surge in call and put option volumes at key strike prices indicates that investors are hedging risks while positioning for potential upside, highlighting a cautious but opportunistic sentiment ahead of the February expiry.
2. Relative Outperformance Despite Market Volatility: Maruti Suzuki’s 1.51% weekly gain contrasts with the Sensex’s 0.54% decline, underscoring the stock’s resilience amid broader market weakness and sectoral headwinds.
3. Technical Indicators Suggest Transitional Phase: Trading above short-term moving averages but below medium-term ones, the stock faces resistance near Rs.15,500 levels, which will be critical for sustaining momentum in the near term.
Overall, the week’s price action and derivatives market activity portray a stock in a state of cautious optimism, with investors balancing bullish expectations against potential volatility. The downgrade to a Hold rating and the Mojo Score of 62.0 further reinforce the need for measured analysis as the stock approaches key technical and expiry milestones.
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