The stock of Kalyan Jewellers India (₹495.70) is ruling at a crucial level and is now in a consolidation phase after showing some downward bias. Immediate support is at ₹450 and a notable base is at ₹407.
On the other hand, nearest resistance levels are at ₹523 and ₹567. A close below the latter will change the medium term outlook to positive and has the potential to lift the stock to ₹600.
F&O pointers: Kalyan Jewellers January futures closed at ₹497.95 against the spot price of ₹495.70. The counter has witnessed a steady build-up in open interests in the last few weeks along with a rise in share price. The build-up and premium denote that the accumulation of open interests is on the long side. Option trading indicates that the stock could move in the ₹450-540 range.
Strategy: Consider buying 510-call on Kalyan Jewellers that closed with a premium of ₹10.10. As the market lot is 1,175 shares, this strategy would cost traders ₹11,867.50, which would be the maximum loss.
We advise traders to keep a stop-loss at ₹5 initially. This can be shifted to ₹10 if the stock opens on a positive note. Traders can aim for a target of ₹15. We suggest holding the position for two weeks.
However, if Kalyan Jewellers opens sharply higher (above ₹507) or lower (below ₹490), traders can stay away from this strategy.
Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading.
Published on January 3, 2026
