Global Markets Update
The SGX Nifty is trading in the red, down by 71 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 0.2% and Hong Kong’s Hang Seng index slipped 1.1% at 7 am India time.
The US markets slipped as banking stocks sank on account of slowdown worries. The Dow Jones fell 0.5%, while the Nasdaq dropped 0.7%. European markets closed lower in the range of 0.3% to 1%.
Stock Action
Long build-up was seen in Bharat Electronics, Mahindra & Mahindra, Coal India, Voltas and Ashok Leyland.
Short build-up was seen in Delta Corp, Oberoi Realty, NALCO, Bata India and IEX.
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 ₹1,930 crore, while DIIs were net buyers of ₹984 crore. In the derivatives market, FIIs sold index futures worth ₹1,276 crore and sold index options worth ₹363 crore. Further, they sold stock futures worth ₹1,237 crore and sold stock options worth ₹42 crore.
Index Action
Nifty50
The Nifty50 ended lower for the second consecutive day and continued to move in a defined range, dragged by IT and pharma stocks. The Nifty50 slipped 61 points and closed at 16,522.
The India VIX climbed 1.7% to 20.84.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 2 June have sizable positions at 17,000 and 16,800 call options and 16,500 and 16,300 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,600 levels. Its immediate support is at 16,300 and resistance is at 16,800 levels.
Bank Nifty
The Bank Nifty outperformed the Nifty50 index and ended the day 0.3% higher. The index recouped its losses of the afternoon session towards the close and made a sharp recovery of nearly 350 points from its intraday low. With nine of the 12 bank stocks closing in the green, the Bank Nifty added 133 points and closed at 35,620.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 36,000 call options and 33,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on 2 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,400 and 36,800 levels. Its immediate support is at 35,100 and resistance is at 36,000 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.
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