Global Markets Update
The SGX Nifty is trading in the red, down by 7 points. Major Asian markets are trading mixed. In Japan, the Nikkei slipped 0.6%, while Hong Kong’s Hang Seng index climbed 0.3% at 7 am India time.
The US markets had a mixed closing ahead of the US Fed meeting outcome, which will be announced later today. The Dow Jones fell 0.5%, while the Nasdaq was up 0.1%. European markets ended lower in the range of 0.2% to 1.2%.
Stock Action
Long build-up was seen in Voltas, Gujarat State Petronet, Coromandel International, Torrent Power and Mindtree.
Short build-up was seen in Crompton, Bajaj Auto, Indiabulls Housing Finance, Polycab and NALCO.
F&O stocks in ban
Stocks in ban: Delta Corp, Indiabulls Housing Finance and RBL Bank
Stocks added: Indiabulls Housing Finance
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹4,502 crore, while DIIs were net buyers of ₹3,807 crore. In the derivatives market, FIIs sold index futures worth ₹324 crore and bought index options worth ₹1,519 crore. Further, they sold stock futures worth ₹226 crore and sold stock options worth ₹9 crore.
Index Action
Nifty50
The Nifty50 closed on a negative note for the third consecutive day and wobbled between gains and losses throughout the day. Investors now await the outcome of the US Fed meeting, which will announce its latest interest rate decision later today. On Tuesday, the Nifty50 slipped 42 points and settled at 15,732.
The India VIX slipped 2.1% to 21.89.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 16,500 call options and 15,500 and 15,000 put options.
The Nifty50’s options contracts expiring on 16 June have sizable positions at 16,000 and 15,800 call options and 15,500 and 15,700 put options.
As per options data, the broad range for the Nifty50 is between 15,000 and 16,500 levels. Its immediate support is at 15,6 00 and resistance is at 16,000 levels.
Bank Nifty
The Bank Nifty rebounded nearly 500 points from the day's low and inched closer to the 33,600-mark. However, selling pressure at higher levels dragged the index down. On Tuesday, the Bank Nifty fell 94 points and closed at 33,311. Among stocks, AU Small Finance Bank and Bandhan Bank were the top gainers, while IndusInd Bank and HDFC Bank were the top losers.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 35,000 and 36,000 call options and 33,000 and 32,000 put options.
The Bank Nifty’s options contracts expiring on 16 June have sizable positions at 35,000 and 34,500 call options and 33,000 and 32,500 put options.
As per the options data, the broad range for the Bank Nifty is between 32,000 and 34,600 levels. Its immediate support is at 32,800 and resistance is at 34,000 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.
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