Asian Markets Update @7 am
The SGX Nifty is trading higher by 166 points, signalling a positive start for the Nifty50 today. Major Asian markets are also trading higher. In Japan, the Nikkei rose 0.5%, while Hong Kong’s Hang Seng index jumped 0.4%.
Global Markets Update
The US markets closed sharply higher on Friday. The Dow Jones registered gains of 2.1%, whereas the Nasdaq shot up 1.7%. The European markets closed higher in the range of +1.6% to +2.7%.
Stock Action
Long build-up was seen in Syngene International, Dalmia Bharat, Cummins India, Bosch and Tata Consumer.
Short build-up was seen in the Steel Authority of India, ACC, Coforge, Power Grid and Wipro .
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,649 crore, while DIIs were net buyers of ₹1,059 crore. In the derivatives market, FIIs sold index futures worth ₹456 crore and bought index options worth ₹3,864 crore. Further, they bought stock futures worth ₹360 crore and sold stock options worth ₹300 crore.
Index Action
Nifty50
The Nifty50 index reclaimed the 16,000-mark and ended the session near the day's high on Friday. Led by gains in auto and FMCG stocks, the Nifty50 index snapped four days of losing streak and closed at 16,049, up 110 points.
The India VIX, a gauge of the market's volatility in the near term, slipped 4.05% to 17.59.
The Nifty50’s options contracts expiring on 28 July have sizable positions at 16,000 and 17,000 call options and 15,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 21 July have sizable positions at 16,000 and 16,500 call options and 16,000 and 15,900 put options.
As per options data, the broad range for the Nifty50 is between 15,200 and 16,800 levels. Its immediate support is at 15,800 and resistance is at 16,400 levels.
Bank Nifty
The Bank Nifty ended a volatile day marginally higher. Among stocks, Axis Bank and ICICI Bank dragged the index lower, while HDFC Bank and Kotak Mahindra Bank provided support. The Bank Nifty rose 31 points and closed at 34,682.
The Bank Nifty’s options contracts expiring on 28 July are scattered and have sizable positions at 35,000 and 36,000 call options and 34,000 and 33,500 put options.
The Bank Nifty’s options contracts expiring on 21 July have sizable positions at 35,000 and 35,500 call options and 34,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 33,800 and 36,000 levels. Its immediate support is at 34,500 and resistance is at 35,300 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.