F&O Morning Update for 15 March 2022

Global Markets Update

SGX Nifty is trading in the red, down by 119 points. Major Asian markets are trading mixed. Japan’s Nikkei climbed 0.3%(7 am), and Hong Kong’s Hang Seng index tumbled 3.3%(7 am).  

The US markets ended mixed as Tech stocks again came under selling pressure. The Dow Jones ended flat, while NASDAQ fell 2%. European markets closed higher in the range of 0.5% to 1.7%.

Stock Action

Long build-up was seen in Balrampur Chini, Deepak Nitrite, Navin Fluorine, Cummins and Persistent. 

Short build-up was seen in AU Small Finance Bank, Bosch, DLF, Manappuram and HPCL. 

F&O stocks in ban

Stocks in ban: Balrampur Chini

Stocks added: Balrampur Chini

Stocks out of ban: -

FII/DII Activity**

In the cash market, FIIs were net sellers of ₹176 crore, while DIIs were net buyers of ₹1,098 crore. In the derivatives market, FIIs bought index futures worth ₹568 crore and bought index options worth ₹1,997 crore. Further, they sold stock futures worth ₹839 crore and bought stock options worth ₹262 crore.

Index Action

Nifty50

The Nifty50 posted strong gains and extended the winning streak to a fifth straight session. Gains in Banking and IT stocks pushed the index higher, while Oil & Gas stocks were the laggards. The Nifty50 soared 240 points to close at 16,871.

The India VIX climbed 1.3% to 25.67.

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 16,900 call options and 16,500 and 16,600 put options. 

As per options data, the broad range for the Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,400 and resistance is at 17,100 levels.

Bank Nifty 

The Bank Nifty jumped higher and closed above the 35,300 mark. With HDFC Bank and SBI gaining over 3%, the Bank Nifty jumped 765 points to 35,312.

The Bank Nifty’s monthly options expiring on March 31 have sizable positions at 36,000 and 37,000 call options and 34,000 and 35,000 put options. 

The Bank Nifty’s weekly options expiring on March 17 have sizable positions at 36,000 and 36,500 call options and 34,000 and 34,500 put options. 

As per options data, the broad range for Bank Nifty is between 33,300 and 36,800 levels. Its immediate support is at 34,200 and resistance is at 35,900 levels.