Global Markets Update
Markets are upbeat on following a steep fall in oil prices and hopes of de-escalation of tension between Russia and Ukraine. SGX Nifty is trading in the green, up by 274 points. Major Asian markets are trading higher. Japan’s Nikkei climbed 3.3%(7 am) and Hong Kong’s Hang Seng index gained 1.8%(7 am).
European markets closed higher in the range of 3.2% to 7.9%. US markets rebounded sharply. The Dow Jones gained 2%, while NASDAQ closed 3.5% higher.
Stock Action
Long build-up was seen in JK Cement, Whirlpool, Balrampur Chini, Metropolis and Cummins.
Short build-up was seen in Atul Ltd, Coforge, Bosch, Shree Cement and Power Grid.
F&O stocks in ban
Stocks in ban: -
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹4,818 crore while DIIs were net buyers of ₹3,275 crore. In the derivatives market, FIIs bought index futures worth ₹677 crore and bought index options worth ₹1,358 crore. Further, they sold stock futures worth ₹178 crore and sold stock options worth ₹151 crore.
Index Action
Nifty50
The Nifty50 marched higher and built on the previous day's gains. IT and Pharma stocks pushed the index higher, while Metal stocks slipped lower for the second consecutive day. The Nifty50 climbed 331 points to 16,345.
The India VIX slipped 3.9% to 27.46
The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 17,000 and 16,500 call options and 16,000 and 15,500 put options.
The Nifty50’s weekly options expiring on March 10 have sizable positions at 16,500 and 16,400 call options and 16,000 and 16,200 put options.
As per options data, the broad range for the Nifty50 is between 15,100 and 17,100 levels. Its immediate support is at 15,800 and resistance is at 16,700 levels.
Bank Nifty
The Bank Nifty rallied higher and came within striking distance of the 34,000 mark. Both PSU and private bank stocks ended with gains pushing the index higher by 657 points to 33,815.
The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 35,000 and 36,000 call options and 33,000 and 32,000 put options.
The Bank Nifty’s weekly options expiring on March 10 have sizable positions at 35,000 and 34,000 call options and 33,000 and 32,000 put options.
As per options data, the broad range for the Bank Nifty is between 30,500 and 35,800 levels. Its immediate support is at 32,800 and resistance is at 34,700 levels.
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