Global Markets Update
SGX Nifty is trading in the green, up by 65 points. Major Asian markets are trading mixed. Japan's Nikkei declined 0.3%(7 am) and Hong Kong's Hang Seng index is trading flat, up by 0.02% (7 am).
European markets closed flat to negative in the range of -0.2% to -0.07%. The US markets recovered sharply from the lows as the Fed minutes eased worries of aggressive rate hikes. Both the Dow Jones and NASDAQ tumbled over 0.1%.
Stock Action
Long build-up was seen in Metropolis, Voltas, Cummins India, M&M Financial and Dr. Reddy's.
Short build-up was seen in ABB, Manappuram, Atul Ltd. Balkrishna Industries and FSL.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance and SAIL
Stocks added:
Stocks out of ban: BHEL
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,890 crore while DIIs were net buyers of ₹1,180 crore. In the derivatives market, FIIs bought index futures worth ₹554 crore and sold index options worth ₹810 crore. Further, they bought stock futures worth ₹492 crore and sold stock options worth ₹220 crore.
Index Action
Nifty50
The Nifty50 swung between red and green amid uncertainty around the Russia-Ukraine situation, with contrary statements coming from NATO and Kremlin. The index faced selling pressure at higher levels, with Metals and Banking sectors losing the most. The Nifty50 fell 30 points to 17,322.
The India VIX dropped to 20.59.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options.
The Nifty50’s weekly options expiring on February 17 have sizable positions at 17,500 and 17,600 call options and 17,000 and 17,300 put options.
As per options data, the broad range for the Nifty50 is between 16,200 and 18,200 levels. Its immediate support is at 16,900 and resistance is at 17,800 levels.
Bank Nifty
Amid volatility, the Bank Nifty slipped below the 38,000 mark. With selling pressure in heavyweights like ICICI Bank and SBI, it fell 216 points to 37,953.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 38,500 call options and 37,000 and 37,500 put options.
The Bank Nifty’s weekly options expiring on February 17 have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options.
As per options data, the broad range for the Bank Nifty, is between 37,000 and 39,900 levels. Its immediate support is at 37,300 and resistance is at 39,000 levels.