Global Markets Update
The SGX Nifty is trading in the red, down by 162 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 0.9%, and Hong Kong’s Hang Seng index slipped 1.3% at 7 am India time.
Following the inflation data, the US markets fell sharply and ended in the red. The Dow Jones dropped 1%, and the NASDAQ declined 3.1%. European markets ended higher in the range of 1.4% to 2.5%.
Stock Action
Long build-up was seen in PVR, Colgate-Palmolive, Navin Fluorine, GNFC and HDFC.
Short build-up was seen in Alkem Labs, Voltas, SRF, Dixon Technologies and Tata Steel.
Major companies announcing results today are AB Capital, Coforge, GSPL, Honeywell Automation, RBL Bank and Tata Motors.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance
Stocks added: Indiabulls Housing Finance
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,609 crore, while DIIs were net buyers of ₹4,181 crore. In the derivatives market, FIIs sold index futures worth ₹965 crore and bought index options worth ₹3,536 crore. Further, bought stock futures worth ₹426 crore and bought stock options worth ₹58 crore.
Index Action
Nifty50
Amid high volatility in global markets, the Nifty50 slumped for the fourth consecutive session. IT, auto and FMCG stocks were the major losers, while banking and financial services stocks extended their gains. The Nifty50 ended the day 72 points lower at 16,167.
The India VIX climbed 2.2% to 22.80.
The Nifty50’s options contracts expiring on 26 May have sizable positions at 17,000 and 17,500 call options and 16,000 and 16,500 put options.
The Nifty50’s options contracts expiring on 12 May 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 15,500 and 17,500 levels. Its immediate support is at 15,900 and resistance is at 16,700 levels.
Bank Nifty
The Bank Nifty extended its gains and ended higher for the second straight session. Led by gains in heavyweights like Axis Bank, Kotak Mahindra Bank and HDFC Bank, the Bank Nifty rose 210 points to 34,693.
The Bank Nifty’s options contracts expiring on 26 May have sizable positions at 36,000 and 39,000 call options and 34,000 and 33,000 put options.
The Bank Nifty’s options contracts expiring on 12 May have sizable positions at 35,000 and 35,500 call options and 34,500 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 33,000 and 35,800 levels. Its immediate support is at 34,000 and resistance is at 35,200 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.