Global Markets Update
SGX Nifty is trading in the green, up by 32 points. Major Asian markets are trading mixed with Nikkei trading higher by 1.3% and Hang Seng trading down by nearly 0.4%
European markets closed higher in the range of 0.2% to 1%, US markets also closed in the green. Dow Jones closed up by nearly 0.7% and NASDAQ closed up by almost 1.9%
Stock Action
Long build-up was seen in stocks like Dr.Lal Pathlabs, Persistent, Ipca Labs, Kotak Mahindra Bank and Pfizer.
Short build-up was seen in stocks like Mphasis, Indian Hotels, Page Industries, Whirlpool and NTPC.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,332 crore while DIIs were net buyers of ₹4,611 crore. In the derivatives market, FIIs bought index futures worth ₹2,152 crore and sold index options worth ₹3,999 crore. Further, they bought futures worth ₹1,342 crore and bought stock options worth ₹65 crore.
Index Action
Nifty50
Nifty50 breached 16,800 during the day but recovered to 17,160 from there and closed flat in the end. It closed 27 points higher at 17,053.
India VIX rose marginally to 20.83 suggesting high volatility in coming days.
Nifty50 monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options.
Nifty50 weekly options expiring on December 2 have sizable positions at 17,300 and 17,500 call options and 17,000 and 16,800 put options. Further additions were seen at 17,200 call options and 16,900 put options.
Options data suggests a broad range for Nifty50 between 16,000 and 18,200 levels. It has immediate support at 16,700 and resistance at 17,600 levels.
Bank Nifty
Bank Nifty recovered nearly 1,000 points from the day’s lows but selling at higher levels saw it close flat, down by 49 points at 35,976.
Bank Nifty monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 36,000 and 35,000 put options.
Bank Nifty weekly options expiring on December 2 have sizable positions at 37,000 and 38,000 call options and 36,000 and 35,000 put options. Further additions were seen at 36,000 call options and 35,800 put options.
Options data suggests a broad range for Bank Nifty between 34,800 and 38,200. It has immediate support at 35,300 and resistance at 36,800 levels.
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*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with an increase in price, and short build-up means an increase in Open Interest (OI) along with a decrease in price.
**Source: nseindia.com. Cash market figures are provisional.
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