Global Markets Update
Globally, markets are trading lower amid reports of Russia moving its troops to two breakaway regions in eastern Ukraine. SGX Nifty is trading in the red, down by 211 points. Major Asian markets are also trading lower. Japan's Nikkei is down 1.8%, while Hong Kong's Hang Seng index dropped 2.2%.
European markets closed negative in the range of -2% to -0.4%. The US markets were shut in observance of President’s Day.
Stock Action
Long build-up was seen in Vodafone Idea, Shree Cement, Federal Bank, Dabur and Mphasis.
Short build-up was seen in Syngene, HAL, SBI Cards, India Cements and TCS.
F&O stocks in ban
Stocks in ban: Escorts and PNB
Stocks added: Indiabulls Housing Finance
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,261 crore, while DIIs were net buyers of ₹2,392 crore. In the derivatives market, FIIs sold index futures worth ₹216 crore and bought index options worth ₹845 crore. Further, they bought stock futures worth ₹1,310 crore and bought stock options worth ₹200 crore.
Index Action
Nifty50
Amid rising volatility on the back of the Russia-Ukraine crisis, the Nifty50 ended lower for the fourth consecutive session. Sell-off across sectors saw Metal and Oil & Gas losing the most, while Banking sector ended the day higher. The Nifty50 closed 69 points lower at 17,206.
The India VIX climbed to 22.90.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 17,500 and 17,600 call options and 17,000 and 17,200 put options. Further additions were seen at 17,200 call options and 17,000 put options.
As per options data, the broad range for the Nifty50 is between 16,400 and 18,200 levels. Its immediate support is at 16,800 and resistance is at 17,700 levels.
Bank Nifty
The Bank Nifty jumped above the 38,000 mark, but profit-booking at higher levels dragged it lower. Led by gains in Federal Bank, ICICI Bank and HDFC Bank, it rose 86 points to 37,685.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 38,000 and 38,500 call options and 37,000 and 37,500 put options. Further additions were seen at 38,200 call options and 37,500 put options.
As per options data, the broad range for the Bank Nifty is between 36,300 and 39,600 levels. Its immediate support is at 37,100 and resistance is at 38,700 levels.