Global Markets Update
The SGX Nifty is trading in the green, up by 11 points. Major Asian markets are trading mixed. In Japan, the Nikkei rose 0.2% and Hong Kong’s Hang Seng index slipped 0.4% at 7 am India time.
The US markets closed firmly in the green after investors bought into energy and growth stocks. The Dow Jones rose 2.1%, while the Nasdaq climbed 2.5%. European markets ended higher in the range of 0.2% to 0.7%.
Stock Action
Long build-up was seen in IDFC First Bank, Vedanta, NTPC, M&M Financial and Can Fin Homes.
Short build-up was seen in Pidilite, JK Cement, Balkrishna Industries, Indus Towers and Page Industries.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance and RBL Bank
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,701 crore, while DIIs were net buyers of ₹3,066 crore. In the derivatives market, FIIs bought index futures worth ₹2,147 crore and bought index options worth ₹1,648 crore. Further, they bought stock futures worth ₹2,332 crore and sold stock options worth ₹165 crore.
Index Action
Nifty50
Tracking positive global cues and a dip in crude oil prices, the Nifty50 closed firmly in the grip of the bulls. It registered gains of 1.8% and ended higher for the second consecutive day. The Nifty50 jumped 288 points and closed the session at 15,638. All the major sectoral indices closed in the green, with Oil & Gas, Metal and Realty rising the most.
The India VIX slipped 5.7% to 21.14.
The Nifty50’s options contracts expiring on 30 June have sizable positions at 16,000 and 16,500 call options and 15,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 23 June have sizable positions at 15,700 and 16,000 call options and 15,300 and 15,500 put options.
As per options data, the broad range for the Nifty50 is between 14,800 and 16,400 levels. Its immediate support is at 15,350 and resistance is at 15,800 levels.
Bank Nifty
The Bank Nifty came within striking distance of 33,600 levels and closed comfortably in the green despite some profit-booking towards the fag-end of the session. On the Bank Nifty index, Bank of Baroda, PNB and SBI were the top gainers, while AU Small Finance Bank was the only stock which closed in red. The Bank Nifty rose 506 points to 33,191.
The Bank Nifty’s options contracts expiring on 30 June have sizable positions at 34,000 and 35,000 call options and 33,000 and 32,000 put options.
The Bank Nifty’s options contracts expiring on 23 June have sizable positions at 33,500 and 34,000 call options and 33,000 and 32,500 put options.
As per the options data, the broad range for the Bank Nifty is between 32,200 and 34,000 levels. Its immediate support is at 32,700 and resistance is at 33,600 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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