Reliance Near ₹1,370 As 12,260 Call Contracts Traded At ₹1,400 Strike, Options Activity Signals Short-Term Bullish Bets

Mumbai: Reliance Industries Ltd saw heavy activity in the derivatives segment on 20 April 2026. Around 12,260 call contracts were traded at the Rs 1,400 strike, showing strong interest at this level.

The stock was trading at Rs 1,370.30, rising 0.39 percent during the day, staying just below the strike price. This shows traders are expecting the stock to move higher in the short term.

Near-Term Bullish Bets Build Up

The Rs 1,400 strike is close to the current price, making these call options slightly out-of-the-money. Such positions are usually taken when traders expect a quick upward move.

With expiry on 28 April 2026, these trades indicate short-term bets rather than long-term positions. The option turnover stood at Rs 552.93 lakh, showing strong participation at this level.

Open Interest Signals Fresh Positions

Open interest at the Rs 1,400 strike stood at 18,142 contracts, higher than the daily traded volume. This suggests fresh buying positions are being created rather than just existing trades being closed.

The high open interest highlights that this strike price has become an important level for traders as expiry approaches.

Stock Shows Mild Uptrend

Reliance shares have gained around 1.88 percent in the last two sessions, showing a steady but limited upward trend.

The stock is currently trading above its 5-day and 20-day moving averages, which supports short-term strength. However, it is still below longer-term averages like the 50-day, 100-day and 200-day, indicating caution in the broader trend.

Delivery Volume Remains Weak

Delivery volumes dropped to 70.57 lakh shares, down nearly 30.87 percent from the recent average. This suggests lower participation in the cash market.

At the same time, strong options activity shows that traders are using derivatives to express their bullish view instead of buying shares directly.

What It Means For Investors?

The combination of rising call activity and short-term price strength suggests a possible breakout towards Rs 1,400. However, mixed technical signals and lower cash market participation indicate that traders remain cautious.

Dislclaimer: This article is for informational purposes only and reflects market data and derivatives activity. It is not investment advice. Investors should assess risks and consult financial advisors before taking trading decisions.