Global Markets Update
SGX Nifty is trading in the red, down by 165 points. Major Asian markets are trading mixed. Japan’s Nikkei is up 0.4%, and Hong Kong’s Hang Seng index is down 0.6%.
European markets had a mixed closing in the range of -0.4% to +0.4%. US markets slipped lower as the consumer price inflation rose to 7.5% on a yearly basis. The Dow Jones was down 1.4%, while NASDAQ closed 2.1% lower.
Stock Action
Long build-up was seen in Hindustan Copper, M&M, PFC, Laurus Labs and Jindal Steel and Power.
Short build-up was seen in Page Industries, Bharat Forge, Strides Pharma, Zee Entertainment and Ambuja Cements.
F&O stocks in ban
Stocks in ban: BHEL, PNB and SAIL
Stocks added: SAIL
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,732 crore while DIIs were net buyers of ₹2,727 crore. In the derivatives market, FIIs bought index futures worth ₹2,276 crore and bought index options worth ₹5,067 crore. Further, they bought stock futures worth ₹540 crore and sold stock options worth ₹79 crore.
Index Action
Nifty50
The Nifty50 extended its winning streak as investor sentiment remained upbeat following RBI’s announcement to keep the interest rates unchanged. All sectoral indices closed in green, barring Auto and PSU Bank. The Nifty50 ended the day 142 points higher to 17,605.
The India VIX slipped 4.5% to 17.71.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 18,500 call options and 16,500 and 17,000 put options.
The Nifty50’s weekly options expiring on February 17 have sizable positions at 17,700 and 18,000 call options and 17,600 and 17,400 put options.
As per options data, the broad range for the Nifty50 is between 16,400 and 18,400 levels. Its immediate support is at 17,000 and resistance is at 17,900 levels.
Bank Nifty
The Bank Nifty rose steadily above the 39,000 mark. Federal Bank and HDFC Bank were the top gainers, while PNB was the only stock to close lower. The Bank Nifty jumped 400 points to 39,010.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 40,000 call options and 38,000 and 37,000 put options.
The Bank Nifty’s weekly options expiring on February 17 have sizable positions at 39,000 and 39,500 call options and 39,000 and 38,500 put options.
As per options data, the broad range for the Bank Nifty is between 37,500 and 40,500 levels. Its immediate support is at 38,100 and resistance is at 39,900 levels.
*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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