Global Markets Update
SGX Nifty is trading lower, down by 54 points at 17,275. Among Asian markets, Japan’s Nikkei declined 2% in Monday morning trade, while Hong Kong and Australia markets are closed on account of a holiday.
The U.S. markets closed lower on Thursday at the end of the holiday-shortened week. The Dow Jones fell 0.3%, and the Nasdaq dropped 2.1%. The European markets closed higher in the range of +0.4% to +0.7%.
Stock Action
Long build-up was seen in Ambuja Cements, ONGC, Dixon Technologies, UPL and Laurus Labs.
Short build-up was seen in PVR, AB Capital, Bajaj Finserv, Balrampur Chini and Asian Paints.
F&O stocks in ban
Stocks in ban: RBL Bank
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,061 crore, while DIIs were net buyers of ₹1,410 crore. In the derivatives market, FIIs sold index futures worth ₹2,005 crore and bought index options worth ₹7,383 crore. Further, they sold stock futures worth ₹146 crore and sold stock options worth ₹286 crore.
Index Action
Nifty50
On Wednesday, the Nifty50 fell for the third straight session amid weak global cues and rising inflation concerns. Among the sectoral indices, Financial Services, Private Bank and Auto were the top losers, while Oil & Gas and FMCG indices ended the session with modest gains. The Nifty50 slipped 54 points to 17,475.
The India VIX dropped 2% to 17.78.
The Nifty50’s monthly options expiring on April 28 have sizable positions at 18,000 and 19,000 call options and 17,500 and 17,000 put options.
The Nifty50’s weekly options expiring on April 21 have sizable positions at 18,500 and 18,000 call options and 17,500 and 17,000 put options.
As per options data, the broad range for the Nifty50 is between 16,600 and 18,400 levels. Its immediate support is at 17,200 and resistance is at 17,800 levels.
Bank Nifty
The Bank Nifty opened higher and came within striking distance of the 38,000 mark. However, profit-booking in index heavyweights private bank stocks dragged the index lower. The Bank Nifty fell 284 points to 37,463.
The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 38,000 and 39,000 call options and 36,000 and 37,000 put options.
The Bank Nifty’s weekly options expiring on April 21 have sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options.
As per the options data, the broad range for the Bank Nifty is between 36,200 and 38,800 levels. Its immediate support is at 36,900 and resistance is at 38,000 levels.