Global Markets Update
SGX Nifty is trading in the green, up by 117 points. Major Asian markets are also trading in the green, Nikkei is up 1.4%, and Hang Seng is trading 1.0% higher.
The European markets closed higher in the range of 0.9% to +1.4%. The US markets jumped for the third straight day as Dow Jones rose nearly 0.8% and NASDAQ closed 0.7% higher.
Stock Action
Long build-up was seen in Navin Fluorine, Metropolis, Indian Hotels, Dalmia Bharat and IDFC.
Short build-up was seen in Crompton, IRCTC, Tata Motors, BPCL and IOC.
F&O stocks in ban
Stocks in ban: -
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹21 crore while DIIs were net buyers of ₹1,597 crore. In the derivatives market, FIIs sold index futures worth ₹414 crore and bought index options worth ₹3,337 crore. Further, they bought stock futures worth ₹2,106 crore and sold stock options worth ₹131 crore.
Index Action
Nifty50
The Nifty50 ended a volatile session higher as bulls cheered the infrastructure boost provided in the Budget. With gains in Metals, Infrastructure and select Financial stocks, it rebounded sharply from 17,300 levels. The Nifty50 jumped 237 points and closed at 17,576.
The India VIX dropped 9% to 19.97.
The Nifty50’s monthly options expiring on February 24 are scattered and have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s weekly options expiring on February 3 have sizable positions at 18,000 and 17,500 call options and 17,000 and 17,200 put options. Further additions were seen at 17,600 call options and 17,500 put options.
As per the options data, the broad range for the Nifty50 is between 16,600 and 18,400 levels. Its immediate support is at 17,000 and resistance is at 17,800 levels.
Bank Nifty
The Bank Nifty dipped below the 37,700 mark during the day but staged a smart recovery. It settled 530 points higher at 38,505. The overall breadth of the banking stocks remained positive, and 9 out of 12 stocks closed in the green.
The Bank Nifty’s monthly options expiring on February 24 are scattered and have sizable positions at 39,000 and 40,000 call options and 37,000 and 38,000 put options.
The Bank Nifty’s weekly options expiring on February 3 have sizable positions at 39,000 and 39,500 call options and 38,000 and 37,500 put options. Further additions were seen at 38,800 call options and 38,500 put options.
As per the options data, the broad range for the Bank Nifty is between 36,600 and 39,900 levels. Its immediate support is at 37,600 and resistance is at 38,900 levels.