Global Markets Update
The SGX Nifty is trading in the green, up by 24 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 1.4%, and Hong Kong’s Hang Seng index climbed 0.2% at 7 am India time.
The US markets were closed on Monday for the Juneteenth holiday. European markets ended higher in the range of 0.6% to 1.5%.
Stock Action
Long build-up was seen in Apollo Tyres, Jubilant FoodWorks, ITC, ACC and Eicher Motors.
Short build-up was seen in GMR Infra, GNFC, Chambal Fertilisers, Vedanta and Tata Steel.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance and RBL Bank
Stocks added:
Stocks out of ban: Delta Corp
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,217 crore, while DIIs were net buyers of ₹2,093 crore. In the derivatives market, FIIs sold index futures worth ₹17 crore and sold index options worth ₹5,581 crore. Further, they bought stock futures worth ₹1,170 crore and sold stock options worth ₹120 crore.
Index Action
Nifty50
The Nifty50 halted its six-day losing run and ended a volatile session higher. Metals and oil & gas stocks came under heavy selling pressure, while FMCG, financial services and IT pack saw buying interest. Among stocks, ONGC and Tata Steel were the top losers, while HDFC and HUL were the top gainers. The Nifty50 rose 56 points and closed the day at 15,350.
The India VIX slipped 1.5% to 22.41.
The Nifty50’s options contracts expiring on 30 June have sizable positions at 16,000 and 16,500 call options and 15,000 and 14,500 put options.
The Nifty50’s options contracts expiring on 23 June have sizable positions at 15,500 and 15,800 call options and 15,000 and 15,300 put options.
As per options data, the broad range for the Nifty50 is between 14,600 and 16,000 levels. Its immediate support is at 15,150 and resistance is at 15,550 levels.
Bank Nifty
After swinging between gains and losses throughout the session, the Bank Nifty ended the day 0.1% lower. Except HDFC Bank and Kotak Mahindra Bank, all the other ten stocks of the index closed lower. Despite the fag-end recovery of nearly 300 points, the Bank Nifty closed the session 58 points lower at 32,684.
The Bank Nifty’s options contracts expiring on 30 June have sizable positions at 35,000 and 34,000 call options and 32,000 and 32,500 put options.
The Bank Nifty’s options contracts expiring on 23 June have sizable positions at 33,500 and 33,000 call options and 32,000 and 31,500 put options.
As per the options data, the broad range for the Bank Nifty is between 31,600 and 33,800 levels. Its immediate support is at 32,300 and resistance is at 33,100 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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