Global Markets Update
SGX Nifty is trading in the green, up by 40 points. Major Asian markets are also trading higher, Japan’s Nikkei jumped 1.9%, and Hong Kong’s Hang Seng index advanced 0.9%.
European markets closed higher in the range of 1.0% to 2.0%. The US markets snapped the losing streak amid easing Russia-Ukraine tensions. The Dow Jones closed 1.2% higher, while NASDAQ climbed 2.5%.
Stock Action
Long build-up was seen in Crompton, Persistent, HDFC, Deepak Nitrite and FSL.
Short build-up was seen in Cipla, Metropolis, ABB, Astral and Manappuram.
F&O stocks in ban
Stocks in ban: BHEL, Escorts, Indiabulls Housing Finance and SAIL
Stocks added: Escorts
Stocks out of ban: PNB and Tata Power
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,298 crore while DIIs were net buyers of ₹4,411 crore. In the derivatives market, FIIs bought index futures worth ₹1,748 crore and bought index options worth ₹8,198 crore. Further, they bought stock futures worth ₹2,280 crore and bought stock options worth ₹217 crore.
Index Action
Nifty50
The Nifty50 recovered from a two-day losing streak amid signs of easing tensions between Russia and Ukraine. The Nifty50 soared 509 points to 17,352. All major sectoral indices ended in the green. Auto, Banks and Media stocks surged the most.
The India VIX dropped 10% to 20.61.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options.
The Nifty50’s weekly options expiring on February 17 have sizable positions at 17,700 and 17,500 call options and 17,000 and 16,800 put options.
As per options data, the broad range for the Nifty50 is between 16,200 and 18,200 levels. Its immediate support is at 16,900 and resistance is at 17,800 levels.
Bank Nifty
The Bank Nifty reclaimed the 38,000 mark amid extremely positive market breadth. The PSU banks outperformed the private banks, and all the 12 stocks of the index closed higher. The Bank Nifty climbed 1,261 points to 38,170.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 39,500 call options and 37,000 and 36,000 put options.
The Bank Nifty’s weekly options expiring on February 17 have sizable positions at 39,000 and 38,500 call options and 37,000 and 37,500 put options.
As per options data, the broad range for the Bank Nifty, is between 37,000 and 39,900 levels. Its immediate support is at 37,500 and resistance is at 39,200 levels.
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