Global Markets Update
SGX Nifty is trading in the green, up by 106 points. Major Asian markets are trading mixed; Nikkei is trading 0.7% lower and Hang Seng is up 0.2%
European markets closed firmly in the green in the range of 0.4% to 0.8%. US markets closed in the green. Dow Jones closed 0.1% higher and NASDAQ closed 0.2% higher.
Stock Action
Long build-up was seen in GSPL, Chambal Fertilisers, ABFRL, ONGC and Tata Communications.
Short build-up was seen in Abbott India, Metropolis, IGL, Shree Cements and Cipla.
F&O stocks in ban
Stocks in ban: Delta Corp, Indiabulls Housing Finance, RBL Bank, SAIL and Vodafone Idea
Stocks added: SAIL
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,001 crore while DIIs were net buyers of ₹1,332 crore. In the derivatives market, FIIs sold index futures worth ₹142 crore and bought index options worth ₹1,335 crore. Further, they bought stock futures worth ₹584 crore and bought stock options worth ₹38 crore.
Index Action
Nifty50
Nifty50 surged for the fourth straight day led by heavyweights like Reliance Industries, Infosys, Bharti Airtel and ICICI Bank. It ended 156 points higher at 18,212.
India VIX slipped 3.2% to 17.18.
Nifty50’s monthly options expiring on January 27 have sizable positions at 18,500 and 19,000 call options and 17,000 and 17,500 put options.
Nifty50’s weekly options expiring on January 13 have sizable positions at 18,500 and 18,400 call options and 17,700 and 18,000 put options. Further additions were seen at 18,250 call options and 18,200 put options.
As per options data, the broad range for Nifty50 is between 16,800 and 18,800 levels. Its immediate support is at 17,600 and resistance is at 18,400 levels.
Bank Nifty
Bank Nifty advanced with yet another strong rally with 10 out of the 12 stocks closing higher. It rose 285 points to close at 38,727.
Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 39,000 and 38,500 call options and 37,000 and 38,000 put options.
Bank Nifty50’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 38,800 call options and 38,500 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 38,000 and resistance is at 39,200 levels.
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*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.