Global Markets Update
SGX Nifty is trading in the red, down by 52 points. Major Asian markets are trading in the red; Nikkei is trading lower by 0.7% and Hang Seng is down 0.4%.
European markets closed in the red in the range of -1.4% to -0.5%. US markets had a mixed closing. Dow Jones closed lower by 0.4% and NASDAQ closed flat with a positive bias , up by 0.05%.
Stock Action
Long build-up was seen in Chambal Fertilisers, IDFC, Indiabulls Housing Finance, Gujarat Gas and India Cements.
Short build-up was seen in L&T Technology, SBI Cards, SAIL, PI Industries and Mphasis.
F&O stocks in ban
Stocks in ban: Delta Corp, Indiabulls Housing Finance and RBL Bank.
Stocks added: Indiabulls Housing Finance
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹124 crore while DIIs were net buyers of ₹481 crore. In the derivatives market, FIIs sold index futures worth ₹538 crore and bought index options worth ₹2,242 crore. Further, they bought stock futures worth ₹559 crore and bought stock options worth ₹157 crore.
Index Action
Nifty50
The Nifty50 opened gap-up and continued its upward march during the day without major dips. It was a broad based rally where all sectors participated, except Pharma. It rose 190 points to close at 18,003.
India VIX climbed 0.4% to 17.67.
The 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.
The Nifty50’s weekly options expiring on January 13 have sizable positions at 18,000 and 18,500 call options and 17,500 and 17,800 put options.
As per options data, the broad range for Nifty50 is between 16,800 and 18,800 levels. Its immediate support is at 17,500 and resistance is at 18,300 levels.
Bank Nifty
Bank Nifty had a strong start to the week as it zoomed past 38,000 with ease. It ended the day 608 higher at 38,347.
The Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 38,000 and 39,000 call options and 37,000 and 38,000 put options.
The Bank Nifty50’s weekly options expiring on January 13 have sizable positions at 39,000 and 38,500 call options and 38,000 and 37,500 put options.
As per the options data, the broad range for Bank Nifty, is between 36,800 and 39,600 levels. Its immediate support is at 37,400 and resistance is at 38,900 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.