Global Markets Update
The global markets remain cautious ahead of the US Federal Reserve's first post-pandemic interest rate hike later this week and with no relief in sight from the Russia-Ukraine crisis. SGX Nifty is trading in the red, down by 37 points. Major Asian markets are trading mixed. Japan's Nikkei climbed 1.1%(7 am), and Hong Kong's Hang Seng index tumbled 1.9%(7 am).
European markets closed higher in the range of 0.8% to 1.3%. The US markets ended lower. The Dow Jones lost 0.6%, while NASDAQ fell 2.1%.
Stock Action
Long build-up was seen in GNFC, Chambal Fertilisers, Coromandel, Balrampur Chini and Cipla.
Short build-up was seen in Abbott India, Whirlpool, Manappuram, SRF and FSL.
F&O stocks in ban
Stocks in ban: -
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,263 crore, while DIIs were net buyers of ₹1,686 crore. In the derivatives market, FIIs bought index futures worth ₹427 crore and sold index options worth ₹108 crore. Further, they bought stock futures worth ₹847 crore and bought stock options worth ₹88 crore.
Index Action
Nifty50
On Friday, the Nifty50 ended a volatile day with gains making it the fourth consecutive positive closing. A combination of stabilising crude oil prices and a strong outcome of five states' elections favouring the ruling BJP helped the index close more than 2% higher last week. On Friday, the Nifty50 ended 35 points higher at 16,630.
The India VIX slipped 0.9% to 25.34
The Nifty50’s monthly options expiring on March 31 have sizable positions at 17,000 and 18,000 call options and 16,000 and 16,500 put options.
The Nifty50’s weekly options expiring on March 17 have sizable positions at 17,000 and 16,800 call options and 16,000 and 16,500 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 16,200 and resistance is at 17,000 levels.
Bank Nifty
The Bank Nifty moved higher and closed above the 34,500 mark on Friday. Amid a highly volatile session, it slipped to 34,094 levels and made a sharp intraday recovery of more than 700 points to 34,880. With 9 out of 12 stocks closing in green, the Bank Nifty added 70 points to settle at 34,546.
The Bank Nifty’s monthly options expiring on March 31 have sizable positions at 36,000 and 37,000 call options and 33,000 and 34,000 put options.
The Bank Nifty’s weekly options expiring on March 17 have sizable positions at 36,000 and 35,000 call options and 34,500 and 33,000 put options.
As per options data, the broad range for the Bank Nifty is between 32,300 and 36,600 levels. Its immediate support is at 33,800 and resistance is at 35,400 levels.
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