Key Events This Week
21 Sep: Technical momentum shifts signal bullish outlook
23 Sep: Surge in call option activity amid bullish market sentiment
23 Sep: Sharp open interest surge signalling bullish market positioning
25 Sep: Further open interest increase confirms bullish derivative positioning
Monday, 21 September: Technical Momentum Shifts Signal Bullish Outlook
Radico Khaitan began the week on a positive note, closing at Rs.4,491.00, up 1.19% on the day, outperforming the Sensex’s 0.46% gain. Technical indicators upgraded the stock’s momentum from mildly bullish to bullish, supported by strong moving averages and expanding Bollinger Bands. The monthly MACD and OBV trends suggested sustained upward momentum despite some weekly caution signals. This technical shift laid the foundation for the week’s bullish sentiment, signalling growing investor confidence in the stock’s trajectory.
Wednesday, 23 September: Surge in Call Option Activity and Open Interest
On 23 September, Radico Khaitan’s stock price surged 2.73% to Rs.4,603.00, marking the week’s high. This rally coincided with a significant spike in call option activity, with 6,912 contracts traded at the 4,600 strike price for the 29 September expiry, reflecting a turnover of ₹540.59 lakhs. Open interest also surged by 40.42% to 20,311 contracts, signalling fresh bullish bets. The stock outperformed its sector and the Sensex, closing 2.46% higher than the previous day. Technical strength was evident as the stock traded above all key moving averages, reinforcing the positive momentum.
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Thursday, 24 September: Price Correction Amid Market Weakness
Following the strong rally, Radico Khaitan’s stock corrected by 2.67% to close at Rs.4,480.00. This decline occurred alongside a sharp Sensex drop of 1.62%, reflecting broader market weakness. Despite the price pullback, the stock maintained its position above key moving averages, suggesting the correction was a short-term consolidation rather than a reversal. Delivery volumes declined by 41.41%, indicating reduced long-term investor participation amid active derivatives trading.
Friday, 25 September: Renewed Bullish Derivative Positioning and Consolidation
On the final trading day of the week, Radico Khaitan rebounded 1.67% to Rs.4,555.00, outperforming the Sensex’s modest 0.18% gain. Open interest in derivatives rose further by 14.87% to 20,531 contracts, supported by strong futures volumes. The stock traded within a narrow range, signalling consolidation near its 52-week high of Rs.4,747. Technical indicators remained bullish, with the stock above all major moving averages. However, delivery volumes fell by 25.48%, suggesting some caution among cash market investors despite the bullish derivative positioning.
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Daily Price Comparison: Radico Khaitan vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-09-21 | Rs.4,491.00 | +1.19% | 35,787.64 | +0.46% |
| 2026-09-22 | Rs.4,480.65 | -0.23% | 35,672.04 | -0.32% |
| 2026-09-23 | Rs.4,603.00 | +2.73% | 35,870.78 | +0.56% |
| 2026-09-24 | Rs.4,480.00 | -2.67% | 35,291.38 | -1.62% |
| 2026-09-25 | Rs.4,555.00 | +1.67% | 35,353.29 | +0.18% |
Key Takeaways
Strong Technical Momentum: The week started with a technical upgrade to a bullish stance, supported by positive MACD, RSI neutrality, and expanding Bollinger Bands, indicating potential for further gains.
Robust Derivatives Activity: Significant surges in call option volumes and open interest throughout the week reflect growing bullish sentiment and fresh long positions being established by traders.
Price Volatility and Consolidation: Despite a midweek correction aligned with broader market weakness, the stock maintained its uptrend and ended the week near its highs, signalling healthy consolidation.
Delivery Volume Decline: Reduced delivery volumes suggest some caution among long-term investors, possibly profit-booking or a wait-and-watch approach amid active speculative trading.
Outperformance vs Sensex: Radico Khaitan outperformed the Sensex by 3.40% over the week, highlighting its relative strength in a mixed market environment.
Conclusion
Radico Khaitan Ltd demonstrated a resilient and bullish performance over the week, supported by a favourable technical backdrop and strong derivatives market positioning. The stock’s ability to outperform the Sensex amid volatile market conditions underscores its growing appeal within the beverages sector. While short-term delivery volume declines warrant monitoring, the sustained open interest growth and technical strength suggest that Radico Khaitan remains well-positioned for potential further appreciation. Investors should continue to observe the interplay between price action, derivatives activity, and volume trends to gauge the sustainability of this momentum.
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