Asian Markets Update 7 am
Indian equities may start the day negative, as the SGX Nifty indicates. The futures contract on the Singapore exchange is trading 26 (-0.1%) points lower. Its Asian peers are trading in the red. The Nikkei 225 declined 1.2%, while Hong Kong's Hang Seng index fell 1.5%.
US market update
US markets ended mixed following a day of decline. Dow Jones ended flat with a negative bias, down 0.01%, whereas the NASDAQ rose 0.9%.
Index Action
Nifty50
June Futures @ 18,835 📉▼61 (-0.3%)
OI Contracts: 1,94,072 (+5.4%)
The Nifty50 was just 1 point away from the record high level and slipped sharply to end the day in the red. For the first time, the index has closed below the upward-sloping channel that started in late March.
The Nifty50 options expiring on 29 June have significant positions at 18,800 and 18,900 calls and 18,800 and 18,700 puts.
According to options data and OI analysis, the Nifty50's range for the 27th July expiry is between 18,300 and 19,300 levels. On the other hand, 18,600 and 18,950 are the immediate support and resistance levels for this week.
Bank Nifty
June Futures @ 43,775 📉▼165 (-0.3%)
OI Contracts: 82,148 (-9.3%)
Bank Nifty faced resistance near its 20 DMA again and ended the day in the red. The last-hour fall on expiry day dragged the index below Wednesday's low point. The pressure in PSU banks led to a one-third of a per cent cut on the banking index.
Among banking stocks, HDFC Bank (+0.4%) and Federal Bank (+0.2%) were the top gainers. IDFC First Bank (-5.6%) and Punjab National Bank (-3.5%) were the top laggards.
The Bank Nifty's options expiring on 29 June have significant positions at the 44,000 and 44,500 calls and 43,500 and 43,700 puts.
According to options data and OI analysis, Bank Nifty's range for the 29th June expiry is between 42,400 and 45,000. On the other hand, 43,400 and 44,300 are this week's immediate support and resistance levels.
FII and DII Data💰
In the cash market, the Foreign Institutional Investors (FIIs) sold shares worth ₹693 crore, while the Domestic Institutional Investors (DIIs) bought shares worth ₹219 crore. In the derivatives market, FIIs bought index futures worth ₹324 crore and bought index options worth ₹20,807 crore. Further, they sold stock futures worth ₹2,517 crore and bought stock options worth ₹261 crore.
India VIX
The volatility index advanced 2.3% to 11.55.
Stock Action📊
Long build-up was seen in Coromandel, Balrampur Chini, BEL, Bharti Airtel and Federal Bank.
Short build-up was seen in Indiabulls Housing Finance, Chambal Fertilisers, AB Capital, Glenmark Pharma and Infosys.
Under F&O Ban: BHEL, Hindustan Copper, L&T Finance, Punjab National Bank and RBL Bank.
*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI)
long 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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