A LiveMint report published on October 13, 2026, attributed three near-term futures ideas to Jay Thakkar of ICICI Securities: Mahindra & Mahindra (M&M), Shree Cement and Cholamandalam Investment and Finance Company (Chola Finance). The reported entry ranges, stop levels and targets are historical levels from that article—not automatically active trades today.
The report was educational, advised readers to consult certified experts and did not establish contract sizes, capital at risk, suitability, execution or whether any stop or target was reached. Treat the figures below as a dated record that requires fresh exchange and broker verification before any decision.
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The three futures calls at a glance
| Underlying | Reported entry | Reported stop | Targets | Reasoning reported in the article |
|---|---|---|---|---|
| Mahindra & Mahindra futures | ₹2,850–₹2,870 | Below ₹2,780 | ₹3,000; ₹3,070 | Higher tops and bottoms on the daily chart; falling open interest interpreted as short covering after eight consecutive negative weeks; call base at ₹2,850 and max pain at ₹2,900. |
| Shree Cement futures | ₹22,100–₹22,150 | Below ₹21,000 | ₹23,500; ₹24,000 | Short additions during the decline followed by consolidation and short covering; ₹22,000 described as the highest call base and max-pain level, with a close above it supporting a possible short-term reversal. |
| Cholamandalam Investment and Finance Company futures | ₹1,610–₹1,630 | Below ₹1,575 | ₹1,685; ₹1,720 | Higher tops and bottoms with rising open interest after long unwinding; put additions reported from ₹1,540–₹1,620 and the highest call base at ₹1,700. |
These are the levels and interpretations reported by the October 13 article. They do not show that a trade was entered, filled or profitable, and the three contracts cannot be assumed to carry equivalent rupee risk.
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LiveMint reported that on Tuesday, October 13, 2026, the Nifty 50 closed at 22,721.95, up 1.6%, while the BSE Sensex ended at 73,033.78, up 1.54%. The Nifty IT index gained 5.2%, and the rupee strengthened to ₹95.28 per US dollar. The article linked the rally to HCLTech’s results and Reserve Bank of India measures intended to ease pressure on the rupee.
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Its derivatives reading placed short-term Nifty support at 22,300, with upside levels of 23,000 and 23,200. The next weekly expiry’s put-call ratio was reported at 1.38, with put writing at 22,500 and the highest call open interest at 23,000. Nifty futures were said to trade at a premium of about 140 points, compared with roughly 30 previously. India VIX was around 14 after falling more than 7%; the article said the short-term bias would likely stay positive while VIX remained below 16.
Those figures describe the conditions cited on that date. They are not a live market signal, and index levels, volatility and option positioning can change materially between sessions.
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How to interpret each setup
M&M futures
The reported thesis combined a rising daily-chart structure with declining open interest. The article interpreted that combination as short covering rather than fresh long accumulation, following eight consecutive negative weeks. Option positioning around the ₹2,850 call base and ₹2,900 max-pain level was presented as additional support for a move toward ₹3,000 and then ₹3,070. A close or trade below ₹2,780 was the stated invalidation area.
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For Shree Cement, the report described earlier short additions during the fall, followed by consolidation and short covering. It identified ₹22,000 as both the highest call base and the max-pain level. The proposed entry band was just above that area, with ₹23,500 and ₹24,000 as successive objectives and a stop below ₹21,000. The setup depended on holding above the cited level; the article did not provide a time limit for the trade.
Cholamandalam futures
The Chola Finance setup relied on higher highs and higher lows alongside rising open interest after a period of long unwinding. The article cited put additions between ₹1,540 and ₹1,620 and the largest call base at ₹1,700. It reported an entry range of ₹1,610–₹1,630, a stop below ₹1,575 and targets of ₹1,685 and ₹1,720.
What was—and was not—verified that day
A LiveMint market snapshot showed Cholamandalam’s share price at ₹1,588.00 at 13:12 IST on October 13, before the article’s stated 5:36 PM IST publication time. That was a cash-share observation, not a futures settlement or execution record. A Choice India search result displayed a Cholamandalam futures figure of 1,619 for October 13, but it did not establish the observation time or prove that the call remained actionable.
No reliable same-day status was established for all three contracts. The available material does not show whether any stop or target was hit, whether an order could be filled inside the stated ranges, or what the closing futures prices were.
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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →Checks to complete before considering any dated futures level
- Confirm the exact futures expiry, lot size, tick value and exchange-traded contract for each underlying.
- Check the current futures price, liquidity, bid-ask spread and whether the reported entry range is still available.
- Recalculate rupee risk from the proposed entry to the stop using the current contract specifications; those specifications were not supplied in the report.
- Review margin requirements, overnight funding, mark-to-market losses and the broker’s liquidation rules.
- Use current price action and open-interest data rather than assuming the October 13 chart or option positioning still applies.
- Obtain advice from a certified professional if you do not understand derivatives or cannot afford the full loss represented by a stop gap.
Bottom line for readers
Jay Thakkar’s October 13, 2026 calls were M&M at ₹2,850–₹2,870 for targets of ₹3,000 and ₹3,070, Shree Cement at ₹22,100–₹22,150 for ₹23,500 and ₹24,000, and Cholamandalam at ₹1,610–₹1,630 for ₹1,685 and ₹1,720, with the stops listed above. They are dated analyst ideas, not verified current recommendations. Without confirmed contract details, live prices and execution status, readers should not treat the levels as an instruction to trade.
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