Global Markets Update
SGX Nifty is trading in the green, up by 106 points. Major Asian markets are trading in the green; Nikkei is trading 1.3% higher and Hang Seng is up 1.5%.
European markets closed firmly in the green in the range of 0.6% to 1.8%. US markets closed in the green near the day’s highs. Dow Jones closed 0.5% higher and NASDAQ closed 1.4% higher.
Stock Action
Long build-up was seen in AB Capital, Tata Chemicals, Navin Fluorine, NBCC and Chola Investments.
Short build-up was seen in Abbott India, SBI Cards, Indiamart, Polycab and SAIL.
F&O stocks in ban
Stocks in ban: Delta Corp, Indiabulls Housing Finance, RBL Bank and Vodafone Idea.
Stocks added: Vodafone Idea
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹111 crore while DIIs were net buyers of ₹378 crore. In the derivatives market, FIIs sold index futures worth ₹346 crore and sold index options worth ₹1,912 crore. Further, they sold stock futures worth ₹1,193 crore and sold stock options worth ₹106 crore.
Index Action
Nifty50
After slipping into the red, Nifty50 crawled back in the green and closed higher for a third straight session. Energy and IT stocks pushed it higher, and it rose 52 points to close at 18,055.
India VIX climbed 0.4% to 17.75.
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 18,000 and 17,800 put options. Further additions were seen at 18,100 call options and 17,900 put options.
As per options data, the broad range for the 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
The Bank Nifty slipped in the opening session and took support near 38,000. It saw a reversal and closed 94 points higher at 38,442.
The Bank Nifty’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 Nifty’s weekly options expiring on January 13 have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options. Further additions were seen at 38,400 call options and 38,000 put options.
As per the options data, the broad range for the 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.