Global Markets Update
SGX Nifty is trading in the green, up by 90 points. Major Asian markets are trading in the negative territory. Japan’s Nikkei is down 0.4% and Hong Kong's Hang Seng index dipped 0.3%.
The European markets closed lower in the range of -2.5% to -1.6%. Amid ongoing geopolitical worries and rising crude prices, the US markets also closed lower. The Dow Jones fell 0.4%, while NASDAQ ended flat, down by 0.03%.
Stock Action
Long build-up was seen in TCS and Gujarat Gas.
Short build-up was seen in Metropolis, Atul Ltd, Tata Motors, Dr. Lal Pathlabs and Oberoi Realty.
F&O stocks in ban
Stocks in ban: BHEL, Indiabulls Housing Finance, PNB, SAIL and Tata Power
Stocks added: Indiabulls Housing Finance
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹4,253 crore while DIIs were net buyers of ₹2,170 crore. In the derivatives market, FIIs sold index futures worth ₹252 crore and bought index options worth ₹254 crore. Further, they bought stock futures worth ₹556 crore and sold stock options worth 538 crore.
Index Action
Nifty50
The Nifty50 plunged more than 500 points as rising tensions between Russia and Ukraine led to another round of global sell-off. The broad-based selling spared no sector, and all major sectoral indices closed in the red. The Nifty50 plunged 531 points to 16,842.
The India VIX jumped 23% to 22.98
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options.
The Nifty50’s weekly options expiring on February 17 have sizable positions at 17,100 and 17,000 call options and 16,500 and 17,000 put options.
As per options data, the broad range for the Nifty50 is between 16,200 and 18,200 levels. Its immediate support is at 16,700 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty had a steep fall and could not hold on to the 37,000 mark. It fell 1,608 points to close at 36,908. Amid weakness in the broader market, the PSU bank index tanked nearly 6%.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 37,500 and 38,000 call options and 37,000 and 36,000 put options.
The Bank Nifty’s weekly options expiring on February 17 have sizable positions at 37,500 and 38,000 call options and 37,000 and 36,500 put options.
As per options data, the broad range for the Bank Nifty is between 35,500 and 38,300 levels. Its immediate support is at 36,300 and resistance is at 37,700 levels.