Global Markets Update
SGX Nifty is trading flat with a negative bias, down by 5 points. Major Asian markets are also trading lower. Japan’s Nikkei fell 0.01% (7 am), and Hong Kong’s Hang Seng declined 0.4% lower (7 am).
European markets closed lower by nearly 0.5%. U.S markets rebounded on Thursday as value-buying emerged in the tech stocks. The Dow Jones rose 0.2%, and the NASDAQ advanced 0.06%.
Stock Action
Long build-up was seen in Tata Communications, Bharat Electronics, Can Fin Homes, Abbott India and Whirlpool.
Short build-up was seen in Zee Entertainment, Voltas, L&T Technology Services, HDFC Bank and Wipro.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹5,009 crore, while DIIs were net buyers of ₹1,774 crore. In the derivatives market, FIIs sold index futures worth ₹1,999 crore and bought index options worth ₹7,105 crore. Further, they sold stock futures worth ₹2,970 crore and sold stock options worth ₹174 crore.
Index Action
Nifty50
The Nifty50 slumped for the third consecutive day tracking losses in Reliance, TCS and HDFC twins. Amid heavy selling by FIIs, IT and financial services stocks lost ground, while defensive Pharma and FMCG stocks lent support. The Nifty50 ended 168 points lower at 17,639.
The India VIX dipped 0.1% to 19.00.
The Nifty50’s monthly options expiring on April 28 are scattered and have sizable positions at 18,000 and 19,000 call options and 17,500 and 17,000 put options.
The Nifty50’s weekly options expiring on April 13 have sizable positions at 18,000 and 17,900 call options and 17,800 and 17,700 put options.
As per options data, the broad range for Nifty50 is between 17,000 and 18,800 levels. Its immediate support is at 17,400 and resistance is at 18,000 levels.
Bank Nifty
Ahead of the RBI monetary policy meeting, the Bank Nifty rallied and came within striking distance of 38,000 mark. However, the selling spree in HDFC Bank dragged the Bank Nifty lower, and it declined 75 points to close at 37,557.
The Bank Nifty’s monthly options expiring on April 28 are scattered and have sizable positions at 38,500 and 38,000 call options and 37,000 and 36,000 put options.
The Bank Nifty’s monthly options expiring on April 13 have sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options.
As per the options data, the broad range for Bank Nifty is between 36,500 and 39,500 levels. Its immediate support is at 37,100 and resistance is at 38,100 levels.
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