Global Markets Update
SGX Nifty is trading down by 9 points. Major Asian markets are trading in the red with Nikkei trading lower by 0.5% and Hang Seng trading lower by 1.3%.
Yesterday, European markets closed flat to negative in the range of -0.5% to +0.02%. US markets closed in the red, with the Dow Jones closing 0.6% lower and NASDAQ closing 0.3% lower.
Stock Action
Long build-up was seen in stocks like Birlasoft, Coforge, Apollo Hospital, L&T Technology and GSPL.
Short build-up was seen in stocks like Ipca Labs, Axis Bank, Indus Towers, Lupin and Godrej Properties.
F&O stocks in ban
Stocks in ban: BHEL, Indiabulls Housing Finance, IRCTC, NALCO, SAIL and Sun TV
Stocks added: -
Stocks out of ban: PNB
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹344 crore, while DIIs were net sellers of ₹61 crore. In the derivatives market, FIIs bought index futures worth ₹111 crore, while they sold Index options worth ₹2,224 crore. Further, they sold futures worth ₹121 crore and bought stock options worth ₹218 crore.
Index Action
Nifty50
Nifty50 managed to rebound into the positive after opening lower but selling at higher levels dragged it deep in the red. It closed 100 points lower at 17,898.
India VIX slipped 1.4% to 14.98 levels.
Nifty50 monthly options expiring on November 25 have sizable positions at 18,000 and 18,500 call options and 17,500 and 17,400 put options.
Nifty50 November 18 weekly series options have sizable positions at 18,200 and 18,100 call options and 17,800 and 17,900 put options. Further additions were seen at 18,000 call options and unwinding was seen at 17,800 put options.
Options data suggests a broad range for Nifty50 at 17,000 and 18,700 levels and its immediate support at 17,600 and resistance at 18,200 levels.
Bank Nifty
Bank Nifty saw yet another negative closing as it continues to underperform the broader markets. It closed 265 points lower at 38,041.
Bank Nifty monthly options expiring on November 25 have sizable positions at 38,500 and 39,000 call options and 37,000 and 38,000 put options.
Bank Nifty November 18 weekly series options have sizable positions at 39,000 and 38,500 call options and 38,000 and 37,000 put options. Further additions were seen at 38,200 call options and 38,000 put options.
Options data suggests a range for Bank Nifty as 37,100 and 39,500. It has immediate support at 37,600 and resistance at 38,800 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.