Global Markets Update
SGX Nifty is trading in the red, down by 16 points. Major Asian markets are mixed; Nikkei is trading up by almost 0.1% and Hang Seng is trading down by nearly 0.2%.
European markets closed down in the range of -1.1% to -0.2%. US markets closed in the red. Dow Jones closed down by 0.3% and NASDAQ fell by 1.1%.
Stock Action
Long build-up was seen in stocks like Pfizer, ABFRL, Power Grid, Aurobindo Pharma and GAIL.
Short build-up was seen in stocks like Kotak Mahindra Bank, Info Edge, SBI Cards,Bajaj Finance and TVS Motors.
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 ₹763 crore while DIIs were net buyers of ₹425 crore. In the derivatives market, FIIs sold index futures worth ₹1,656 crore and sold index options worth ₹3,253 crore. Further, they sold futures worth ₹2,181 crore and sold stock options worth ₹61 crore.
Index Action
Nifty50
Nifty50 did well to recover from a negative first session as buying was witnessed at lower levels of 17,200 but it did not trade in the green for too long. It slid 43 points to close at 17,324.
India VIX climbed up to 16.95.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 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 17,300 put options. Further additions were seen at 17,400 call options and 17,300 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 ended the day on a flat note as it continues to trade below 37,000. It recovered nearly 500 points from the day’s low but could not close in the green. It fell 31 points and closed at 36,893.
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 37,500 and 37,000 call options and 36,500 and 37,000 put options. Further additions were seen at 37,000 call options and 36,700 put options.
As per the 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.
Download the Upstox App Today