Global Markets Update
SGX Nifty is trading in the green, up by 68 points. Major Asian markets are trading mixed; Nikkei is trading up by almost 1.8% and Hang Seng is trading down by nearly 0.5%.
European markets had a mixed closing in the range of -0.7% to +0.5%. US markets closed firmly in the green. Dow Jones closed up by 1.1%, while NASDAQ surged 2.1%.
Stock Action
Long build-up was seen in stocks like TVS Motor, Torrent Power, Sun Pharma, Navin Fluorine and Abbott India.
Short build-up was seen in stocks like IEX, Bajaj Finance, Bajaj Finserv and Gujarat Gas.
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 ₹3,407 crore, while DIIs were net buyers of ₹1,553 crore. In the derivatives market, FIIs sold index futures worth ₹415 crore and bought index options worth ₹7,544 crore. Further, they sold futures worth ₹1,775 crore and sold stock options worth ₹27 crore.
Index Action
Nifty50
Ahead of the Fed meeting outcome, Nifty50 was jittery and barely closed above 17,200. It dropped 103 points to close at 17,221.
India VIX climbed up to 17.21.
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 17,300 and 17,400 call options and 17,000 and 17,200 put options. Further additions were seen at 17,300 call options and 17,100 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 17,600 levels.
Bank Nifty
After an early fall, Bank Nifty took support at 36,800 and traded above 37,000 till intensified selling pressure in the last hour dragged it below 36,800. It fell 104 points and closed at 36,789.
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 37,000 and 37,500 call options and 36,500 and 36,000 put options. Further additions were seen at 37,000 call options and 36,300 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 36,200 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.
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