Global Markets Update
The SGX Nifty is trading in the red, down by 81 points. Major Asian markets are trading mixed. In Japan, the Nikkei fell 0.1%, while Hong Kong’s Hang Seng index rose 0.2% at 7 am India time.
The US markets slipped on rate hike concerns and a sell-off in tech stocks. The Dow Jones fell 1%, while the Nasdaq dropped 2.4%. European markets ended lower in the range of 0.1% to 0.9%.
Stock Action
Long build-up was seen in Indiabulls Housing Finance, Birlasoft, FSL, Alkem Labs and Rain Industries.
Short build-up was seen in JK Cement, Deepak Nitrite, Shree Cement, Dalmia Bharat and ACC.
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 ₹3,770 crore, while DIIs were net buyers of ₹2,360 crore. In the derivatives market, FIIs bought index futures worth ₹187 crore and bought index options worth ₹4,253 crore. Further, they bought stock futures worth ₹3,087 crore and sold stock options worth ₹158 crore.
Index Action
Nifty50
On Friday, the Nifty50 closed lower and wiped out all its intraday gains. The index made a sharp reversal of nearly 150 points in the last hour of trade and closed 0.2% lower, dragged by cement, auto and metal stocks. The Nifty50 shed nearly 200 points from its intraday high and closed 43 points lower to 16,584.
The India VIX slipped 1.7% to 19.98.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 9 June have sizable positions at 16,800 and 17,000 call options and 16,500 and 16,300 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,500 levels. Its immediate support is at 16,300 and resistance is at 16,900 levels.
Bank Nifty
The Bank Nifty saw an intraday fall of more than 750 points from the day's high and closed almost 1% lower. The Bank Nifty fell 338 points to 35,275. Barring Kotak Mahindra Bank, all other 11 bank stocks closed in the red.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 36,000 call options and 34,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on 9 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,400 and 36,600 levels. Its immediate support is at 34,800 and resistance is at 36,000 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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