Global Markets Update
SGX Nifty is trading higher, up by 102 points. Major Asian markets are trading mixed. Japan’s Nikkei climbed 0.6%(7 am), and Hong Kong’s Hang Seng index declined 0.1%(7 am).
The U.S. markets closed higher as value-buying emerged in the leading tech stocks. The Dow Jones jumped 1.4%, and Nasdaq surged 2.1%. The European markets ended flat to negative in the range of -0.8% to -0.07%.
Stock Action
Long build-up was seen in ONGC, Coal India, AU Small Finance Bank, BPCL and IOC.
Short build-up was seen in HDFC Bank, HDFC, Chambal Fertilisers, Shriram Transport Finance and Larsen & Toubro.
F&O stocks in ban
Stocks in ban: Tata Power
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹5,871 crore, while DIIs were net buyers of ₹3,980 crore. In the derivatives market, FIIs bought index futures worth ₹1,387 crore and bought index options worth ₹,1305 crore. Further, they bought stock futures worth ₹121 crore and bought stock options worth ₹374 crore.
Index Action
Nifty50
The Nifty50 continued its downward march and has declined more than 4% in the last five trading sessions. Rising Covid-19 cases in China and the fresh offensive of Russia against Ukraine dragged the index lower, especially towards the end. The Nifty50 ended the day 215 points lower at 16,958.
The India VIX climbed 2.2% to 19.77.
The Nifty50’s monthly options expiring on April 28 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options.
The Nifty50’s weekly options expiring on April 21 have sizable positions at 17,500 and 17,400 call options and 17,000 and 17,200 put options.
As per options data, the broad range for the Nifty50 is between 16,300 and 18,000 levels. Its immediate support is at 16,800 and resistance is at 17,600 levels.
Bank Nifty
The Bank Nifty traded in a narrow range before the last hour sell-off, where it dropped more than 1,000 points and took support at 35,900. Losses in index heavyweights HDFC Bank and Kotak Mahindra Bank dragged the Bank Nifty lower, while gains in ICICI Bank and SBI lent support. With 8 out of 12 bank stocks closing in red, the Bank Nifty fell 387 points to 36,341.
The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 37,000 and 38,000 call options and 36,000 and 36,500 put options.
The Bank Nifty’s weekly options expiring on April 21 have sizable positions at 37,000 and 38,000 call options and 36,000 and 36,500 put options.
As per the options data, the broad range for Bank Nifty is between 35,100 and 38,000 levels. Its immediate support is at 36,000 and resistance is at 37,200 levels.