Global Markets Update
SGX Nifty is trading in the red, down by 40 points. Major Asian markets are also trading in the red; Nikkei is down by 0.6% and Hang Seng is down by 0.7%.
European markets closed negative in the range of -0.3% to -0.1%. US markets closed flat to negative. Dow Jones closed flat and NASDAQ closed down by 1.7%.
Stock Action
Long build-up was seen in stocks like FSL, Vodafone Idea, Laurus Labs, Whirlpool and BHEL.
Short build-up was seen in stocks like SBI Cards, Colgate-Palmolive, HDFC Bank, Titan and Manappuram.
F&O stocks in ban
Stocks in ban: Escorts and Indiabulls Housing Finance
Stocks added: Escorts
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,585 crore while DIIs were net buyers of ₹782 crore. In the derivatives market, FIIs sold index futures worth ₹748 crore and bought index options worth ₹6,914 crore. Further, they sold futures worth ₹422 crore and bought stock options worth ₹48 crore.
Index Action
Nifty50
Nifty50 closed in the green for the third consecutive session yesterday. It had a choppy session but managed to close in the green, up by 47 points at 17,516.
India VIX slipped further to 16.60.
Nifty50’s 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’s weekly options expiring on December 16 have sizable positions at 17,500 and 18,000 call options and 17,500 and 17,200 put options. Further additions were seen at both 17,500 call options and put options.
As per the options data, the broad range for Nifty50 is between 16,300 and 18,300 levels. Its immediate support is at 17,000 and resistance is at 17,900 levels.
Bank Nifty
Bank Nifty broke its streak of positive closing as it closed in the red with the major private banks leading the downslide. It closed 202 points lower at 37,082.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 37,000 and 36,000 put options.
Bank Nifty’s weekly options expiring on December 16 have sizable positions at 38,000 and 37,000 call options and 37,000 and 36,000 put options. Further additions were seen at both 37,000 call options and put options.
As per options data, a broad range for Bank Nifty is between 35,500 and 38,400 levels. Its immediate support is at 36,100 and resistance is at 37,800 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.
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