Asian Markets Update 7 am
Indian equities may start the day positive, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 39 (+0.2%) points higher. Its Asian peers are trading mixed. The Nikkei 225 advanced 0.2%, while Hong Kong's Hang Seng index fell 0.1%.
US Market Update
US markets ended mixed as investors await the Fed Chairman's speech on Friday. Dow Jones declined 0.5% while NASDAQ advanced 0.06%.
Index Action
August Futures @ 19,388📉▼10 (-0.06%)
OI Contracts: 2,00,891 (-1.4%)
Amid mixed global cues, the Nifty50 ended a volatile session on a flat note. The index rose to the 19,450 level, giving all its gains in the second half and settling just 2 points higher. Ahead of tomorrow's weekly contract expiry, the index consolidates within the 300-point band for seven sessions. However, on the daily charts, the index has made a higher high, higher low formation for the second day.
The Nifty50 options expiring on 24 August have significant positions at 19,400 and 19,500 calls and 19,300 and 19,200 puts.
According to options data and OI analysis, the Nifty50 range for the 31st August expiry is between 19,000 and 19,700. On the other hand, 19,250 and 19,550 are this week's immediate support and resistance levels.
August Futures @ 44,077 📉▼37 (-0.08%)
OI Contracts: 1,28,104 (+4.3%)
Bank Nifty traded in a narrow range of nearly 200 points and ended the day flat with a negative bias. The index continues to consolidate near the 44,000 level. The index's breadth was positive, with 8 out of the 12 stocks ending in green. However, pressure from private and PSU heavyweights dragged the index lower.
Among banking index stocks, AU Small Finance Bank (+2.7%) and IDFC First Bank (+2.5%) were the top gainers. SBI (-0.5%) and HDFC Bank (-0.4%) were the top laggards.
The Bank Nifty's options expiring on 24 August have significant positions at the 44,000 and 44,500 calls and 44,000 and 43,800 puts.
According to options data and OI analysis, Bank Nifty's range for the 31st August expiry is between 43,000 and 44,700. On the other hand, 43,600 and 44,400 are this week's immediate support and resistance levels.
NIFTY FINANICAL SERVICES
August Futures @ 19,588 📉▼32 (-0.1%)
OI Contracts: 2,786 (+17.4%)
The FINNIFTY ended with one-tenth of a per cent cuts but held above its 100 DMA. The FINNIFTY's options expiring on 29 August have significant positions at the 19,600 and 20,000 calls and 19,600 and 19,500 puts.
According to options data and OI analysis of contracts expiring on 8th August, FINNIFTY's immediate support and resistance levels are at 19,450 and 19,750.
FII and DII Data
In the cash market, the Foreign Institutional Investors (FIIs) sold shares worth ₹495 crore, while the Domestic Institutional Investors (DIIs) bought shares worth ₹533 crore. In the derivatives market, FIIs sold index futures worth ₹48 crore and bought index options worth ₹10,721 crore. Further, they sold stock futures worth ₹116 crore and bought options worth ₹57 crore.
India VIX
The volatility index declined 1.7% and settled at 11.75.
Stock Action📊
The long build-up was seen in Escorts Kubota, BHEL, IDFC First Bank, NTPC and Polycab.
The short build-up was seen in BPCL, Bajaj Finserv, Glenmark, Aurobindo Pharma and SBI.
Under F&O Ban: BHEL, Delta Corp, Escorts Kubota, GNFC, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram, Metropolis, PNB, SAIL and Zee Entertainment.
*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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