Asian Markets Update @7 am
The SGX Nifty is trading lower by 49 points, signalling a negative start for the Nifty50 today. Major Asian markets are also trading lower. In Japan, the Nikkei fell 1.3%, while Hong Kong’s Hang Seng index slipped 1.9%.
Global Markets Update
The US markets closed the choppy session slightly lower on Monday. The Dow Jones fell 0.1%, while the tech-focused Nasdaq slipped 0.1%. The European markets closed flat to negative in the range of -0.03% to -0.1%.
Stock Action📊
Long build-up was seen in Chambal Fertilisers, Bosch, Abbott India, UPL and Aarti Industries.
Short build-up was seen in Voltas, Indian Oil Corporation, Firstsource Solutions, MCX and Lupin.
Key results today: Bank of India, Bosch, Godrej Properties, Indus Towers, Siemens and Voltas.
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹2,320 crore, while DIIs were net sellers of ₹822 crore. In the derivatives market, FIIs bought index futures worth ₹2,094 crore and sold index options worth ₹668 crore. Further, they bought stock futures worth ₹596 crore and sold stock options worth ₹71 crore.
India VIX
The India VIX, a gauge of the market's volatility in the near term, climbed 5.6% to 17.48.
Index Action
Nifty50 @ 17340📈 ▲ 181 (+1.0%)
The Nifty50 extended its gains for the fourth straight day and ended Monday's session above 17,300 mark. Except Pharma (-0.08%), all the major sectoral indices closed in the green, with Auto (+3.2%) and Oil & Gas (+2.1%) being the top gainers.
The Nifty50’s options contracts expiring on 25 August have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s options contracts expiring on 4 August have sizable positions at 17,500 and 17,600 call options and 17,200 and 17,000 put options.
As per options data, the broad range for the Nifty50 is between 16,400 and 17,900 levels. Its immediate support is at 17,000 and resistance is at 17,600 levels.
Bank Nifty @37,903📈▲ 411 (+1.1%)
The Bank Nifty continued its rally on Monday and closed above the 37,900 mark. Barring IndusInd Bank(-0.3%), all the other eleven stocks of the index closed in the green, with IDFC First Bank (+11.7%) and Punjab National Bank (+6.5%) being the top gainers.
The Bank Nifty’s options contracts expiring on 25 August have sizable positions at 39,000 and 38,000 call options and 37,000 and 36,000 put options.
The Bank Nifty’s options contracts expiring on 4 August have sizable positions at 38,000 and 39,000 call options and 37,000 and 37,500 put options.
As per the options data, the broad range for the Bank Nifty is between 36,600 and 38,800 levels. Its immediate support is at 37,200 and resistance is at 38,400 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.