Global Markets Update
SGX Nifty is trading in the green, up by 18 points. Major Asian markets are trading mixed, but Nikkei is trading higher by 0.4%, and Hang Seng is trading higher by nearly 0.2%.
European markets closed in the red, in the range of -1.2% to -0.7%. US markets closed deep in the red. Dow Jones closed down by nearly 1.9%, and NASDAQ closed down by almost 1.6%
Stock Action
Long build-up was seen in stocks like Havells, GSPL, Navin Fluorine, Power Grid and Coforge.
Short build-up was seen in stocks like Godrej Properties, Mphasis, SRF, Mindtree and Maruti Suzuki.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
FIIs were net sellers of ₹5,445 crore in the cash market, while DIIs were net buyers of ₹5,350 crore. FIIs bought index futures worth ₹1,589 crore in the derivatives market and sold index options worth ₹335 crore. Further, they bought futures worth ₹3,348 crore and bought stock options worth ₹83 crore.
Index Action
Nifty50
After a strong start to the day that saw Nifty50 cross 17,300, coronavirus virus concerns led to selling pressure in the last hour of trade and dragged Nifty50 below 17,000. It closed 70 points lower at 16,983.
India VIX rose further to 21.17, suggesting high volatility in the coming days.
Nifty50 monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options.
Nifty50 weekly options expiring on December 2 have sizable positions at 17,500 and 17,300 call options and 17,000 and 16,500 put options. Further additions were seen at 17,000 call options and 16,850 put options.
Options data suggests a broad range for Nifty50 between 16,000 and 17,900 levels. It has immediate support at 16,600 and resistance at 17,400 levels.
Bank Nifty
Bank Nifty opened strong, but selling came in early, and found it difficult to sustain at higher levels. It closed down by 281 points at 35,695.
Bank Nifty monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 36,000 and 35,000 put options.
Bank Nifty weekly options expiring on December 2 have sizable positions at 36,500 and 37,000 call options and 35,500 and 35,000 put options.
Further additions were seen at 36,000 call options and 35,600 put options.
Options data suggests a broad range for Bank Nifty between 34,600 and 37,700 levels. It has immediate support at 35,000 and resistance at 36,700 levels.
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*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.