Global Markets Update
SGX Nifty is trading in the red, down by 145 points. Major Asian markets are also trading in the red; Nikkei is trading down by 0.3% and Hang Seng is trading down by 0.9%.
European markets closed flat to negative in the range of -0.8% to -0.01%. US markets too closed in the red. Dow Jones fell 0.9% and NASDAQ closed down by 1.4%.
Stock Action
Long build-up was seen in stocks like Persistent, Syngene International, Polycab, Birlasoft and Strides Pharma.
Short build-up was seen in stocks like Astral, Info Edge, Abbott India, Crompton and Indiamart.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance and Vodafone Idea.
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,743 crore while DIIs were net buyers of ₹1,351 crore. In the derivatives market, FIIs sold index futures worth ₹945 crore and bought index options worth ₹1,495 crore. Further, they sold futures worth ₹2,163 crore and sold stock options worth ₹239 crore.
Index Action
Nifty50
Nifty50 witnessed heavy selling pressure after a strong start as it fell nearly 280 points from the day's high and closed deep in the red. It closed 143 points lower at 17,368.
India VIX climbed up to 16.57.
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 17,600 and 17,500 call options and 17,000 and 17,400 put options. Further additions were seen at 17,500 call options and 17,100 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 17,700 levels.
Bank Nifty
Bank Nifty gave up all the opening gains as selling pressure in PSU banks intensified during the second half of the day and closed below 37,000. It closed 180 points lower at 36,925.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 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 37,500 call options and 37,000 and 36,000 put options. Further additions were seen at 37,500 call options and 37,000 put options.
As per options data, the broad range for Bank Nifty is between 35,400 and 38,200 levels. Its immediate support is at 36,000 and resistance is at 37,600 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.