Global Markets Update
SGX Nifty is trading in the green, up by 51 points. Major Asian markets are trading in the red; Nikkei is trading flat with negative bias, and Hang Seng is down 0.3%.
European markets had a mixed closing in the range of -0.65% to +0.5%. US markets closed in the red. Dow Jones closed flat with a negative bias down by 0.01% and NASDAQ shed nearly 1%.
Stock Action
Long build-up was seen in India Cements, GSPL, Delta Corp, SRF and ONGC.
Short build-up was seen in Piramal Enterprises, M&M, HDFC and City Union Bank.
F&O stocks in ban
Stocks in ban: Delta Corp and RBL Bank.
Stocks added: Delta Corp
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹496 crore while DIIs were net sellers of ₹115 crore. In the derivatives market, FIIs bought index futures worth ₹578 crore and sold index options worth ₹4,633 crore. Further, they sold stock futures worth ₹64 crore and sold stock options worth ₹174 crore.
Index Action
Nifty50
Nifty50 started the new year with a robust 2% weekly gain, led by banking and oil & gas stocks. On Friday, it ended a volatile session 66 points higher at 17,812.
India VIX slipped 2.09% to 17.60.
Nifty50’s monthly options expiring on January 27 have sizable positions at 18,000 and 18,500 call options and 17,000 and 17,500 put options.
Nifty50’s weekly options expiring on January 13 have sizable positions at 18,000 and 17,900 call options and 17,500 and 17,600 put options. Further additions were seen at 17,900 call options and 17,600 put options.
As per options data, the broad range for Nifty50 is between 16,400 and 18,600 levels. Its immediate support is at 17,400 and resistance is at 18,100 levels.
Bank Nifty
Bank Nifty rose more than 6% last week on the back of fresh buying interest and FII inflows turning positive. On Friday, it closed higher by 249 points at 37,739.
Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 38,000 and 37,500 call options and 36,000 and 37,000 put options.
Bank Nifty50’s weekly options expiring on January 13 have sizable positions at 38,000 and 38,500 call options and 37,000 and 37,500 put options. Further additions were seen at 38,000 call options and 37,700 put options.
As per the options data, the broad range for Bank Nifty, is between 35,500 and 38,900 levels. Its immediate support is at 36,700 and resistance is at 38,100 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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