Global Markets Update
SGX Nifty is trading in the green, up by 42 points. Major Asian markets are trading higher. Japan’s Nikkei gained 0.1%, and Hong Kong’s Hang Seng index added nearly 0.4%.
The European markets closed higher in the range of 1% to 1.5%. US markets closed higher on Wednesday, led by technology shares. The Dow Jones surged 0.8%, while NASDAQ jumped 2%.
Stock Action
Long build-up was seen in HDFC, Maruti Suzuki, HPCL, Hindalco and Bsoft.
Short build-up was seen in Godrej Consumer, FSL, ONGC, IGL and MGL.
F&O stocks in ban
Stocks in ban: BHEL and PNB
Stocks added: PNB
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹892 crore while DIIs were net buyers of ₹1,793 crore. In the derivatives market, FIIs bought index futures worth ₹1,457 crore and bought index options worth ₹2,634 crore. Further, they bought stock futures worth ₹1,140 crore and sold stock options worth ₹26 crore.
Index Action
Nifty50
The Nifty50 followed up a strong start with more gains. Out of the 50 stocks, Coal India and Maruti Suzuki were the top gainers, while ONGC and Sun Pharma were the worst hit. The Nifty50 rose 197 points to close at 17,463. All sectoral indices closed in green, barring PSU bank and Oil & Gas.
The India VIX slipped 5.7% to 18.55.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s weekly options expiring today have sizable positions at 17,800 and 17,600 call options and 17,400 and 17,300 put options.
As per options data, the broad range for the Nifty50 is between 16,400 and 18,400 levels. Its immediate support is at 16,900 and resistance is at 17,800 levels.
Bank Nifty
With positive closing in index heavyweights like HDFC Bank and ICICI Bank, the Bank Nifty rose 1.5%. It gained 581 points and settled at 38,610. Out of the 12 stocks of the banking index, PNB was the only stock to close lower. Markets will keenly watch the outcome of the RBI’s Monetary Policy Committee meeting, which is scheduled today.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 39,500 call options and 37,000 and 37,500 put options.
The Bank Nifty’s weekly options expiring today have sizable positions at 39,000 and 39,500 call options and 38,000 and 38,500 put options.
As per options data, the broad range for the Bank Nifty is between 36,800 and 39,900 levels. Its immediate support is at 37,500 and resistance is at 39,300 levels.