Global Markets Update
SGX Nifty is trading in the green, up by 133 points. Major Asian markets are also trading in the green with Nikkei up by nearly 1% and Hang Seng up by 0.7%.
European markets closed negative in the range of -0.4% to -0.1%. US markets saw strong buying in the last hour of trade on Friday and closed comfortably in the green. Dow Jones closed up by 0.6% and NASDAQ closed up by 0.7%.
Stock Action
Long build-up was seen in stocks like Polycab, Dixon, Cummins India, Glenmark and Bank of Baroda.
Short build-up was seen in stocks like SBI Cards, Strides Pharma, FSL, Divis Lab and Titan.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance and Vodafone Idea.
Stocks added: Vodafone Idea
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,092 crore while DIIs were net buyers of ₹386 crore. In the derivatives market, FIIs sold index futures worth ₹1,323 crore and sold index options worth ₹795 crore. Further, they sold futures worth ₹507 crore and sold stock options worth ₹116 crore.
Index Action
Nifty50
Nifty50 had a range-bound day on Friday where it oscillated between the red and green territories and closed flat. It closed 5 points lower at 17,511.
India VIX slipped further to 16.06.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options.
Nifty50’s weekly options expiring on December 16 have sizable positions at 18,000 and 17,500 call options and 17,400 and 17,200 put options. Further additions were seen at 17,600 call options and 17,400 put options.
As per options data, the broad range for Nifty50 is between 16,300 and 18,300 levels. Its immediate support is at 17,000 and resistance is at 17,900 levels.
Bank Nifty
Bank Nifty was under pressure on Friday, but buying in the last hour saw it close in the green. It closed 23 points higher at 37,105.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 37,000 call options and 37,000 and 36,000 put options.
Bank Nifty’s weekly options expiring on December 16 have sizable positions at 38,000 and 37,000 call options and 37,000 and 36,000 put options. Further additions were seen at 37,500 call options and 36,800 put options.
As per options data, the broad range for Bank Nifty is between 35,500 and 38,400 levels. Its immediate support is at 36,100 and resistance is at 37,800 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.
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