Global Markets Update
The SGX Nifty is trading in the green, up by 146 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 2%, and Hong Kong’s Hang Seng index climbed 0.7% at 7 am India time.
The US markets ended higher after the Federal Reserve announced a 75 bps rate hike, the biggest since 1994. The Dow Jones rose 1.0%, while the Nasdaq climbed 2.5%. European markets ended higher in the range of 1.2% to 1.3%.
Stock Action
Long build-up was seen in Voltas, Mahanagar Gas, Coromandel International, Torrent Power and AU Small Finance Bank.
Short build-up was seen in Sun TV, Zee Entertainment, Tata Chemicals, Tech Mahindra and ABFRL.
F&O stocks in ban
Stocks in ban: Delta Corp, Indiabulls Housing Finance and RBL Bank
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,531 crore, while DIIs were net buyers of ₹2,588 crore. In the derivatives market, FIIs bought index futures worth ₹11 crore and bought index options worth ₹2,502 crore. Further, they sold stock futures worth ₹630 crore and bought stock options worth ₹68 crore.
Index Action
Nifty50
The Nifty50 oscillated between gains and losses and ended the day lower. Among index stocks, Bajaj Finserv, Tata Motors and Bajaj Finance were the top gainers, while Tata Steel, ONGC and NTPC were the top losers. With 26 out of the 50 stocks closing in the red, the Nifty50 slipped 39 points to 15,692.
The India VIX climbed 1.1% to 22.14.
The Nifty50’s options contracts expiring on 30 June 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 16,200 call options and 15,500 and 15,600 put options.
As per options data, the broad range for the Nifty50 is between 15,100 and 16,600 levels. Its immediate support is at 15,600 and resistance is at 16,100 levels.
Bank Nifty
The Bank Nifty outperformed the Nifty50 index and ended the day marginally higher. However, the index failed to sustain its opening gains due to selling pressure at higher levels. The Bank Nifty rose 27 points and closed the session at 33,339.
The Bank Nifty’s options contracts expiring on 30 June 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 32,000 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.