Global Markets Update
SGX Nifty is trading in the green, up by 105 points. Major Asian markets are also trading in green; Nikkei is up nearly 1.6% and Hang Seng is up 0.5%.
European markets closed negative in the range of -1.6% to -1.1%. US markets main indexes dropped more than 1%.The Dow Jones and NASDAQ closed down by nearly 1.2%.
Stock Action
Long build-up was seen in no stocks yesterday.
Short build-up was seen in stocks like Godrej Properties, Ambuja Cements, Shriram Transport Finance, Jubilant Foodworks and Indian Hotels.
F&O stocks in ban
Stocks in ban: Escorts and Indiabulls Housing Finance
Stocks added: -
Stocks out of ban: Vodafone Idea
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,565 crore while DIIs were net buyers of ₹2,764 crore. In the derivatives market, FIIs sold index futures worth ₹1,163 crore and sold index options worth ₹871 crore. Further, they bought futures worth ₹738 crore and sold stock options worth ₹553 crore.
Index Action
Nifty50
Nifty50 had its second consecutive negative closing amid rising uncertainty about the omicron variant and relentless selling by foreign institutional investors. Despite a 200 points recovery from the day's low, it closed 371 points lower at 16,614.
India VIX climbed to 18.96.
Nifty50’s monthly options expiring on December 30 have sizable positions at 17,000 and 17,500 call options and 16,500 and 16,000 put options.
Nifty50’s weekly options expiring on December 23 have sizable positions at 17,000 and 17,200 call options and 16,000 and 16,500 put options. Further additions were seen at 16,800 call options and 16,600 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,500 levels. Its immediate support is at 16,200 and resistance is at 16,900 levels.
Bank Nifty
Bank Nifty continued its sharp decline and plummeted 3.3%. It took support at 34,000 and recovered marginally in the last hour of trade but ended the day 1,178 points lower at 34,439.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 37,000 and 36,000 call options and 34,000 and 33,000 put options.
Bank Nifty’s weekly options expiring on December 23 have sizable positions at 36,000 and 35,000 call options and 34,000 and 34,500 put options. Further additions were seen at both 34,500 call and put options.
As per the options data, the broad range for Bank Nifty, is between 32,800 and 36,300 levels. Its immediate support is at 33,800 and resistance is at 35,700 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.