Global Markets Update
SGX Nifty is trading in the red, down by 77 points, as the talks between Russia and Ukraine failed to reach a diplomatic solution on the cease-fire and appear to have ended in a failure. Major Asian markets are also trading lower. Japan’s Nikkei dropped 2.1%(7 am), and Hong Kong’s Hang Seng index lost 2.9%(7 am).
European markets closed lower in the range of -2.9% to -1.2%. US markets bounced from the day’s low but ended lower. The Dow Jones lost 0.3%, while NASDAQ fell 0.9%.
Stock Action
Long build-up was seen in Shree Cement, Tata Steel, JSPL, HPCL and Astral.
Short build-up was seen in Coforge, GAIL, Indian Hotels, LTI and BEL.
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 ₹1,981 crore, while DIIs were net buyers of ₹945 crore. In the derivatives market, FIIs bought index futures worth ₹1,570 crore and bought index options worth ₹839 crore. Further, they bought stock futures worth ₹728 crore and sold stock options worth ₹154 crore.
Index Action
Nifty50
A sharp fall in crude oil prices helped the Nifty50 end higher for the third straight session. Profit-booking in the second half dragged the index lower, but gains in Financial, Metal and FMCG stocks helped it close higher. The Nifty50 jumped 249 points to close at 16,594.
The India VIX slipped 6.8% to 25.86
The Nifty50’s monthly options expiring on March 31 have sizable positions at 17,000 and 18,000 call options and 16,000 and 16,500 put options.
The Nifty50’s weekly options expiring on March 17 have sizable positions at 17,500 and 17,000 call options and 16,000 and 15,500 put options.
As per options data, the broad range for the Nifty50 is between 15,300 and 17,100 levels. Its immediate support is at 15,900 and resistance is at 16,800 levels.
Bank Nifty
The Bank Nifty crossed the 35,300 mark but failed to hold on to the gains. Profit-taking in private banks in the second half dragged the index lower. PSU banks outperformed the private banks, and only 1 out of the 12 stocks of the index ended lower. The Bank Nifty surged 660 points to 34,475.
The Bank Nifty’s monthly options expiring on March 31 have sizable positions at 36,000 and 37,000 call options and 33,000 and 34,000 put options.
The Bank Nifty’s weekly options expiring on March 17 have sizable positions at 36,000 and 35,000 call options and 34,000 and 33,000 put options.
As per options data, the broad range for the Bank Nifty is between 32,300 and 36,600 levels. Its immediate support is at 33,800 and resistance is at 35,300 levels.