One 97 Communications Gains 2.32%: Mixed Technical Signals and Option Activity Shape Week

16 February 2026: Technical Momentum Shifts Amid Mixed Indicators

One 97 Communications Ltd began the week with a slight decline of 0.30%, closing at Rs.1,122.95 against the Sensex’s 0.70% gain. The stock’s technical momentum shifted from mildly bullish to sideways, reflecting a complex interplay of indicators such as MACD, RSI, and Bollinger Bands. Despite trading within a broad range, the stock remained well above its 52-week low but significantly below its peak of Rs.1,381.75. This mixed technical backdrop suggested a consolidation phase amid broader sector pressures.

17 February 2026: Robust Trading Volume and Mild Bullish Technical Shift

The stock rebounded strongly on 17 February, surging 4.23% to close at Rs.1,170.40, outperforming the Sensex’s 0.32% gain. Trading volume surged to 7,31,834 shares, with a traded value exceeding Rs.312 crores, marking One 97 Communications Ltd as one of the most actively traded stocks by value. This price reversal ended a week-long decline and was accompanied by a mild shift back to a bullish technical stance, although some moving averages still indicated resistance. Institutional interest appeared robust despite a dip in delivery volumes, signalling renewed confidence among short-term traders.

18 February 2026: Surge in Call Option Activity Ahead of February Expiry

On 18 February, One 97 Communications Ltd continued its upward momentum, gaining 2.41% to close at Rs.1,198.60, its weekly high. The stock outperformed its Financial Technology sector by 1.18% and marginally beat the Sensex’s 0.43% gain. Notably, call option activity surged, with 7,782 contracts traded at the Rs.1,200 strike price expiring on 24 February. This heightened options interest, generating a turnover of approximately Rs.1117.67 lakhs, indicated bullish positioning by investors anticipating a breakout above this key resistance level. The stock traded above its 5-day, 20-day, and 200-day moving averages, signalling short- and long-term strength despite some intermediate resistance.

19 February 2026: Heavy Put Option Activity Amid Bearish Sentiment

Contrasting the previous day’s optimism, 19 February saw a sharp reversal with the stock dropping 4.51% to Rs.1,144.60, underperforming both the sector (-0.21%) and Sensex (-1.45%). The day was marked by heavy put option trading at the Rs.1,160 strike price, with 3,025 contracts exchanged and a turnover of Rs.339.28 lakhs. This surge in put activity reflected increased hedging and bearish bets as investors grew cautious amid the stock’s technical resistance and declining delivery volumes. The mixed moving average profile and waning investor participation underscored a cautious near-term outlook despite the stock’s longer-term support levels.

20 February 2026: Week Closes with Modest Gain Amid Mixed Sentiment

On the final trading day of the week, the stock edged up 0.69% to close at Rs.1,152.45, slightly outperforming the Sensex’s 0.41% gain. This modest recovery followed the prior day’s pullback and reflected ongoing investor caution amid mixed technical signals. Volume was subdued at 55,217 shares, indicating a quieter session as market participants awaited further clarity. The stock ended the week with a 2.32% gain, outperforming the Sensex’s 0.39% rise, but the contrasting options activity and technical indicators suggest that volatility and uncertainty remain key themes.

Key Takeaways

Positive Signals: The stock outperformed the Sensex by 1.93% over the week, supported by strong trading volumes and a surge in call option activity signalling bullish investor positioning. The price closed above key short- and long-term moving averages on multiple days, indicating underlying technical strength despite intermediate resistance.

Cautionary Signals: Heavy put option activity at the Rs.1,160 strike price and a sharp midweek price reversal highlight increased hedging and bearish sentiment. Mixed technical indicators, including bearish MACD and Bollinger Bands on weekly charts, alongside declining delivery volumes, suggest potential near-term volatility and consolidation.

Mojo Grade and Market Context: The mojo score remains at 68.0 with a Hold rating, reflecting a tempered outlook amid sector challenges and competitive pressures. The stock’s mid-cap status and liquidity support institutional participation, but investors should remain vigilant given the mixed signals and evolving fintech landscape.

Conclusion

One 97 Communications Ltd’s week was characterised by a tug-of-war between bullish optimism and cautious hedging. The 2.32% weekly gain and strong call option interest point to positive investor sentiment, while the heavy put option activity and mixed technical indicators counsel prudence. The stock’s ability to sustain gains above key moving averages will be critical in determining whether the recent momentum can be maintained. Given the Hold mojo grade and sector volatility, investors should carefully monitor price action, volume trends, and options market developments in the coming sessions to gauge the stock’s directional bias.

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