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F&O Morning Update for 1 December 2022

Blog | F&O

Asian Markets Update @ 7:30 am

The SGX Nifty was trading higher by 66 points at 7:30 am, suggesting a positive start for the Nifty50 today. Major Asian markets were also trading in the green. Nikkei 225 in Japan gained 1.0%, while Hong Kong’s Hang Seng index advanced 1.9%.

Global Markets Update 

U.S. stocks rallied on Wednesday after Federal Reserve Governor Jerome Powell signalled a potential slowdown in the pace of interest rate hikes as soon as December.

The Dow Jones surged 2.1% to 34,589, while the S&P 500 jumped 3.1% and closed at 4,080. The tech-heavy Nasdaq zoomed 4.4% to 11,468. The European markets closed higher in the range of 0.6% to 0.8%.


Index Action

Nifty50 @ 18,758 📈140 (+0.7%)

Amid strong FII inflows, the Nifty50 index continued its winning momentum for the seventh day and closed higher. Sectorally, Metals (+1.8%), Auto (+1.7%) and Realty (+1.4%) topped the charts. PSU Banks (-1.3%) witnessed profit booking.

Nifty50’s options contracts expiring on 29 December have sizable positions at 18,500 and 19,000 call options and 18,000 and 18,500 put options. 

Nifty50’s options contracts expiring on 1 December have sizable positions at 18,800 and 19,000 call options and 18,500 and 18,600 put options. 

As per options data and OI analysis, the broad range for the Nifty50 is between 18,200 and 19,200 levels. On the other hand, 18,500 and 19,000 are the critical levels to watch for the current week.

Bank Nifty @ 43,231 📈177 (+0.4%)

The Bank Nifty index traded in a narrow range, closing yesterday's choppy session higher. Among banking stocks, AU Small Finance Bank (+1.9%) and Bandhan Bank (+1.8%) advanced the most, while Punjab National Bank (-2.2%) and IndusInd Bank (-1.0%) were the laggards. 

Bank Nifty’s options contracts expiring on 29 December have sizable positions at 43,000 and 44,000 call options and 43,000 and 42,500 put options.

Bank Nifty’s options contracts expiring on 1 December have sizable positions at 43,300 and 43,500 call options and 43,000 and 42,500 put options. 

As per options data and OI analysis, the broad range for the Bank Nifty is between 42,200 and 44,200 levels. On the other hand 42,800 and 43,600 are the critical levels to watch for the current week.


FII and DII Data**💰

In the cash market, FIIs bought shares worth 9,010 crore, while DIIs sold shares worth ₹4,056 crore. In the derivatives market, FIIs bought index futures and index options worth ₹1,109 crore and ₹2,474 crore. Further, they bought stock futures worth ₹912 crore and sold stock options worth ₹28 crore.

India VIX 

The India VIX, which measures the implied volatility of Nifty50 options climbed 1.4% to 13.81.


Stock Action📊

Long build-up was seen in TVS Motor, Shriram Transport Finance, Tata Communications, Indian Hotels and Coforge. 

Short build-up was seen in Canara Bank, ABB, LTI-Mindtree, Bharat Electronics and Dixon Technologies. 

Under F&O Ban: BHEL, Delta Corp, Indiabulls Housing Finance and Punjab National Bank. 


*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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