Global Markets Update
SGX Nifty is trading higher, up by 20 points. Major Asian markets are trading mixed. Japan’s Nikkei climbed 0.2% (7 am) and Hong Kong’s Hang Seng index declined 1.7% (7am).
The U.S. markets ended marginally lower. The Dow Jones fell 0.1%, and the Nasdaq dropped 0.1%. The European markets were closed for the Easter holiday.
Stock Action
Long build-up was seen in Chambal Fertilisers, NTPC, Coromandel, Torrent Power and Jubilant FoodWorks.
Short build-up was seen in Mindtree, Persistent, Bank of Baroda, Tata Power and HDFC Bank.
F&O stocks in ban
Stocks in ban: Tata Power
Stocks added: Tata Power
Stocks out of ban: RBL Bank
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹6,387 crore, while DIIs were net buyers of ₹3,341 crore. In the derivatives market, FIIs sold index futures worth ₹402 crore and bought index options worth ₹2,319 crore. Further, they sold stock futures worth ₹912 crore and bought stock options worth ₹517 crore.
Index Action
Nifty50
The Nifty50 slipped for the fourth straight session on Monday, tracking a disappointing start to the earnings season and selling pressure by FIIs. Losses in IT and financial service stocks dragged the index lower, while FMCG and metal stocks lent support. The Nifty50 ended the session 302 points lower at 17,173.
The India VIX climbed 8.7% to 19.34.
The Nifty50’s monthly options expiring on April 28 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 April 21 have sizable positions at 17,500 and 17,400 call options and 17,000 and 17,200 put options.
As per options data, the broad range for the Nifty50 is between 16,300 and 18,000 levels. Its immediate support is at 16,800 and resistance is at 17,600 levels.
Bank Nifty
Amid constant selling pressure in HDFC Bank, the Bank Nifty opened 600 points lower and further dropped to 36,450 levels. However, the index made a fag-end recovery of more than 400 points and ended the day 2% lower at 36,729. Barring Axis Bank, all eleven stocks of the Bank Nifty closed in the red.
The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 37,000 and 38,000 call options and 36,000 and 36,500 put options.
The Bank Nifty’s weekly options expiring on April 21 have sizable positions at 37,000 and 38,000 call options and 36,000 and 36,500 put options.
As per the options data, the broad range for the Bank Nifty is between 35,100 and 38,000 levels. Its immediate support is at 36,000 and resistance is at 37,200 levels.
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