Global Markets Update
SGX Nifty is trading in the red, down by 89 points. Major Asian markets are also trading lower following the overnight losses on Wall Street and inconclusive peace talks between Russia and Ukraine. Japan’s Nikkei dropped 0.7%(7 am), and Hong Kong’s Hang Seng index fell 1.9%(7 am).
European markets closed lower in the range of -1.3% to -0.8%. U.S. markets ended lower on inflation concerns even as the administration announced plans to release a record amount of emergency oil reserves amid spiralling oil prices. The Dow Jones and the NASDAQ both slipped 1.5%.
Stock Action
Long build-up was seen in Bandhan Bank, M&M, Ashok Leyland, Balkrishna Industries and Deepak Nitrite.
Short build-up was seen in NTPC, BPCL, Dr.Lal Pathlabs, Hindalco and Divi’s Labs.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban: Vodafone-Idea
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹3,088 crore, while DIIs were net buyers of ₹1,145 crore. In the derivatives market, FIIs bought index futures worth ₹1,113 crore and sold index options worth ₹3,988 crore. Further, they bought stock futures worth ₹127 crore and bought stock options worth ₹441 crore.
Index Action
Nifty50
The Nifty50 broke its three-day winning streak and ended marginally lower. FMCG and oil & gas stocks posted healthy gains, while pharma and IT stocks witnessed selling pressure. The Nifty50 fell 33 points to 17,464.
The India VIX dropped 0.24% to 20.56.
The Nifty50’s monthly options expiring on April 28 are scattered and have sizable positions at 17,500 and 18,000 call options and 17,500 and 16,000 put options.
The Nifty50’s weekly options expiring on April 7 have sizable positions at 17,500 and 17,600 call options and 17,500 and 17,400 put options.
As per options data, the broad range for the Nifty50 is between 16,500 and 18,200 levels. Its immediate support is at 17,100 and resistance is at 17,700 levels.
Bank Nifty
The Bank Nifty moved higher but failed to take out the 36,600 mark following the selling pressure at higher levels. The Private bank index ended with gains of 0.3%, while the PSU bank index ended 0.8% lower. The Bank Nifty closed 39 points higher at 36,373.
The Bank Nifty’s monthly options expiring on April 28 are scattered and have sizable positions at 36,500 and 38,000 call options and 36,000 and 35,000 put options.
The Bank Nifty’s monthly options expiring on April 7 have sizable positions at 36,500 and 37,500 call options and 36,000 and 35,000 put options.
As per options data, the broad range for the Bank Nifty is between 35,000 and 37,700 levels. Its immediate support is at 35,700 and resistance is at 37,000 levels.
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