Global Markets Update
The SGX Nifty is trading higher by 29 points, indicating a positive start for the Nifty50 on Friday. Among Asian markets, the Nikkei in Japan declined 0.8% at 7 am India time, while markets in Hong Kong were closed on Friday for a holiday.
The US markets ended the volatile session lower. The Dow Jones fell 0.8%, while the Nasdaq slipped 1.3%. The European markets ended lower in the range of -1.6% to -1.9%.
Stock Action
Long build-up was seen in MCX, Ramco Cements, Shriram Transport Finance, Britannia and Indus Towers.
Short build-up was seen in Delta Corp, Deepak Nitrite, Indiabulls Housing Finance, Navin Fluorine and UPL
F&O stocks in ban
Stocks in ban: N/A
Stock out of ban: Sun TV
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,138 crore, while DIIs were net buyers of ₹1,378 crore. In the derivatives market, FIIs sold index futures worth ₹1,296 crore and bought index options worth ₹10,791 crore. Further, they sold stock futures worth ₹113 crore and sold stock options worth ₹223 crore.
Index Action
Nifty50
The Nifty50 ended the monthly expiry of June F&O contracts flat with a negative bias. Among sectors, Metal, Auto, and IT were the laggards, while Financial Services and Banking bucked the trend. The Nifty50 slipped 18 points and closed at 15,780.
The India VIX slipped 0.2% to 21.84.
The Nifty50’s options contracts expiring on 28 July are scattered and have sizable positions at 17,000 and 16,000 call options and 15,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 7 July have sizable positions at 16,000 and 15,800 call options and 15,700 and 15,500 put options.
As per options data, the broad range for the Nifty50 is between 15,000 and 16,700 levels. Its immediate support is at 15,600 and resistance is at 16,000 levels.
Bank Nifty
After a volatile start, the Bank Nifty ended the day nearly 0.5% higher, led by gains in banking heavyweights like Axis Bank and SBI. Outperforming the broader space, the Bank Nifty rose 155 points and ended the session at 33,425.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 35,000 and 34,000 call options and 32,000 and 33,000 put options.
The Bank Nifty’s options contracts expiring on 7 July have sizable positions at 33,500 and 34,500 call options and 33,000 and 33,500 put options.
As per the options data, the broad range for the Bank Nifty is between 32,600 and 34,800 levels. Its immediate support is at 33,100 and resistance is at 33,800 levels.
*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.