Global Markets Update
SGX Nifty is trading in the green, up by 66 points. Major Asian markets are largely higher; Hong Kong's Hang Seng index is up 1% and Japan's Nikkei sat 0.1% higher.
European markets closed higher by nearly 1.4%. US markets rebounded sharply on Tuesday. Dow Jones rose 1.6% and NASDAQ gained 2.4%.
Stock Action
Long build-up was seen in Zee Entertainment, NALCO, Exide Industries, Bosch and Coforge.
Short build-up was seen in stocks like Indian Hotels, Indiamart, LIC Housing Finance and SBI.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance and Zee Entertainment.
Stocks added: Zee Entertainment
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,209 crore while DIIs were net buyers of ₹1,404 crore. In the derivatives market, FIIs bought index futures worth ₹3,068 crore and bought index options worth ₹2,118 crore. Further, they bought futures worth ₹2,164 crore and bought stock options worth ₹35 crore.
Index Action
Nifty50
Nifty50 gave some relief to the bulls as it traded and closed strongly in the green yesterday. After hitting a high of 16,936, it slid in the second half and closed 156 points higher at 16,770.
India VIX slipped to 17.53.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,000 call options and 16,500 and 16,000 put options.
Nifty50’s weekly options expiring on December 23 have sizable positions at 17,200 and 17,000 call options and 16,000 and 16,500 put options. Further additions were seen at 16,950 call options and 16,800 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,400, and resistance is at 17,200 levels.
Bank Nifty
Bank Nifty found resistance at 35,000 as it slipped almost 650 points from the day's high. As buying emerged towards closing, it ended the day 168 points higher at 34,607.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 36,000 and 37,000 call options and 34,000 and 34,500 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 34,900 call options and 34,500 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.