SGX Nifty is trading in the red, down by 26 points. Major Asian markets are also trading in the red; Nikkei is trading down by 0.8% and Hang Seng is trading down by 0.2%.
European markets closed higher in the range of 1% to 1.25%. US markets closed in the red with technology stocks leading the fall. Dow Jones closed down by nearly 0.1% and NASDAQ closed down by almost 2.5%.
Stock Action
Long build-up was seen in stocks like JK Cement, Page Industries, Vedanta, and ONGC.
Short build-up was seen in stocks like Nippon Life, Torrent Power, TVS Motor, and Tata Power.
F&O stocks in ban
Stocks in ban: Escorts and Vodafone Idea.
Stocks added: -
Stocks out of ban: Indiabulls Housing Finance
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,468 crore while DIIs were net buyers of ₹1,533 crore. In the derivatives market, FIIs bought index futures worth ₹828 crore and bought index options worth ₹3,628 crore. Further, they sold futures worth ₹793 crore and sold stock options worth ₹79 crore.
Index Action
Nifty50
After 4 days of negative closings, Nifty50 managed to close in the green led by the IT sector. It took support at 17,200 and closed 27 points higher at 17,248.
India VIX slipped to 15.89.
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 23 have sizable positions at 17,300 and 17,400 call options and 17,300 and 17,200 put options. Further additions were seen at both 17,300 call and put options.
As per options data, the broad range for Nifty50 is between 16,400 and 18,200 levels. Its immediate support is at 16,900, and resistance is at 17,600 levels.
Bank Nifty
Bank Nifty remained under pressure all day as both, PSU Banks and private banks witnessed selling pressure. It fell 240 points and closed at 36,548.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 37,000 and 38,000 call options and 37,000 and 36,000 put options.
Bank Nifty’s weekly options expiring on December 23 have sizable positions at 37,000 and 37,500 call options and 36,500 and 37,000 put options. Further additions were seen at 36,600 call options and 36,400 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 36,000, 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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