Global Markets Update: SGX Nifty is trading up by 50 points. Most of Asian markets are trading negative but have seen recovery from their lows and are now trading in the green.
Nikkei is trading down by 2% but Hang Seng has recovered and is now trading in the green..
Yesterday, major European indices closed in the red to the tune of 1% to 2%.
The US markets also closed in the red. Dow Jones closed 614 points or 1.85% lower and the NASDAQ closed 330 points or over 2% lower.
Index Action:
Nifty50: Yesterday, Nifty50 witnessed a volatile session and closed near its lows at 17,396 which was 188 points lower.
Monthly Options suggests, 17,500 call options has a substantial Open Interest base and can be an immediate resistance level.
17,200 put option selling saw further addition indicating that trader’s believe NIFTY50 can take a support at this level.17,200 and 17,000 put options have a substantial open interest base and can be immediate support levels.
Bank Nifty: Bank Nifty dropped 666 points and closed near the low of day at 37,145.
Monthly options data suggests that, 37,500 and 38,000 can be immediate resistance levels as these Call option strikes have significant open interest bases.
37,000 put options have a significant base but saw some unwinding indicating that this might act as a support level but not a very strong one. The next meaningful Put option base is at 36,500.
Stock Action:*
Long Build-up was seen in stocks like Indian Hotels, PVR, Godrej Properties and GMR Infra.
Short Build-up was seen in stocks like Tata Steel, Indigo, Federal Bank, PI Industries, Eicher Motors
F&O Stocks in Ban:
Stocks in Ban: Exide Ind, Indiabulls Hsg., Idea, IRCTC, NALCO, PNB, Sail, Sun TV
Stocks added: Idea
Stocks out of ban: Escorts
FII/DII Activity:**
FIIs bought ₹ 92.54 crore while DIIs sold ₹ 1626.58 crore in the cash segment. FIIs sold index futures worth ₹2,560.13 crore while in index options they sold ₹1,706.64 crore. In the stock futures segment, they sold ₹653.46 crore
*Long build-up means increase in Open Interest (OI) along with increase in price and Short build-up means decrease in Open Interest (OI) along with decrease in price.
**Source: nseindia.com