Global Markets Update
SGX Nifty is trading up by 66 points. Major Asian markets are trading in the green with Nikkei trading higher by 0.6% and Hang Seng trading up nearly 0.1%.
On Friday, European markets closed mixed, in the range of -0.5% to +0.5%. US markets closed firmly in the green. Dow Jones closed up by 0.5% and NASDAQ closed up 1%.
Stock Action
Long build-up was seen in stocks like NALCO, Indigo, Vodafone Idea, L&T Infotech and Cholamandalam Investment.
Short build-up was seen in stocks like Atul Ltd, Torrent Pharma, Laurus Labs, REC and Bajaj Auto.
F&O stocks in ban:
Stocks in ban: Bank of Baroda, BHEL, Escorts, Indiabulls Housing Finance, NALCO, PNB,
SAIL and Sun TV
Stocks added: NALCO
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹511 crore while DIIs were net buyers of ₹851 crore. In the derivatives market, FIIs bought index futures worth ₹2,103 crore and index options worth ₹3,302 crore. Further, they bought stock futures worth ₹880 crore and sold stock options worth ₹111 crore.
Index Action
Nifty50
Nifty50 staged a smart recovery on Friday as it took support at 17,900 and rallied towards 18,100. It closed 229 points higher at 18,102.
India VIX dropped nearly 7% to 15.21 levels. VIX needs to cool off further below 14 levels for the smooth ride to continue for the markets.
Nifty50 monthly options expiring on November 25 have sizable positions at 18,000 and 18,500 call options and 17,500 and 18,000 put options.
Nifty50 November 18 weekly series options have sizable positions at 18,500 and 18,300 call options and 18,000 and 17,900 put options. Further additions were seen at 18,500 call options and 18,000 put options.
Options data suggests a broad range for Nifty50 at 17,200 and 18,900 levels and its immediate support at 17,700 and resistance at 18,400 levels.
Bank Nifty
Bank Nifty broke its streak of negative closing and closed in the positive territory on Friday. It closed 173 points at 38,733.
Bank Nifty monthly options expiring on November 25 have sizable positions at 40,000 and 39,000 call options and 38,000 and 37,000 put options.
Bank Nifty November 18 weekly series options have sizable positions at 39,000 and 39,500 call options and 38,500 and 38,000 put options.
Options data suggests a range for Bank Nifty as 37,100 and 40,200. It has immediate support at 37,900 and resistance at 39,400 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.