Global Markets Update
SGX Nifty is trading in the red, down by 67 points. Major Asian markets are also trading in the red; Nikkei is down by nearly 0.8% and Hang Seng is down by 0.6%.
European markets had a mixed closing in the range of -1.1% to +0.1. US markets closed in the red. With the worst decline of the month, Dow Jones closed down by nearly 1.5% and NASDAQ closed flat with a negative bias and dipped by 0.1%.
Stock Action
Long build-up was seen in stocks like Persistent, Trent and Pfizer.
Short build-up was seen in stocks like Indiabulls Housing Finance, Bajaj-Auto, Zee Entertainment, MFSL and RBL Bank.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance and Vodafone Idea.
Stocks added: Indiabulls Housing Finance
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,069 crore while DIIs were net buyers of ₹1,478 crore. In the derivatives market, FIIs sold index futures worth ₹470 crore and sold index options worth ₹5,264 crore. Further, they bought futures worth ₹4 crore and sold stock options worth ₹505 crore.
Index Action
Nifty50
Nifty50 closed below the psychological mark of 17,000 as markets continue to witness “sell on rise” sentiment. Despite mild attempts at a recovery in the second half, it closed down by 263 points at 16,985.
India VIX climbed to 16.33.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options.
Nifty50’s weekly options expiring on December 23 have sizable positions at 17,300 and 17,500 call options and 17,000 and 16,500 put options. Further additions were seen at 17,000 call options and 17,200 put options.
As per the options data, the broad range for Nifty50 is between 16,400 and 18,200 levels. Its immediate support is at 16,800 and resistance is at 17,500 levels.
Bank Nifty
Bank Nifty came under pressure as concerns of rising interest rate continues to grow. Bank Nifty underperformed the Nifty50 by nearly 1% as it fell 930 and closed at 35,618.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 37,000 and 36,000 call options and 36,000 and 35,000 put options.
Bank Nifty’s weekly options expiring on December 23 have sizable positions at 36,000 and 36,500 call options and 36,000 and 35,500 put options. Further additions were seen at 36,000 call options and 35,500 put options.
As per the options data, the broad range for Bank Nifty is between 34,600 and 37,700 levels. Its immediate support is at 35,000 and resistance is at 36,300 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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