Global Markets Update
SGX Nifty is trading up by 20 points. Asian markets are mixed today with Nikkei trading down by 0.5% and Hang Seng trading up by 0.5%. Yesterday, major European indices closed in the green, up by nearly 1.5%. The US markets too were mixed with the DOW Jones closing 50 points or .15% down and NASDAQ closing 32 points or 0.2% up.
Index Action:
Nifty50: Yesterday, Nifty50 closed smartly in the green at 17,562, up by 165 points.
Nifty50’s closing was above its support levels of 17,500 that was formed by the significant monthly put options base at that strike. 17,400 and 17,200 are the next two strong bases and can act at support levels.
17,700 and 18,000 have substantial bases on the monthly call options front. These can be immediate support levels.
Bank Nifty: Bank Nifty was trading down by 600 points and also recovered from the day’s lows and closed 90 points plus at 37,235.
Bank Nifty too bounced back from its support of 36,500 as suggested by the put option base. Along with it, 37,000 also has a put option base that could act as the support level.
Monthly call options saw further additions for 37,500 and 38,000 strikes indicating that these levels can again act at resistance levels.
Stock Action:*
Long Build-up was seen in stocks like Escorts, Godrej Properties, Hindalco, Balkrishna Industries and Bajaj Finance
Short Build-up was seen in stocks like Gujarat Gas, Maruti, AU Small Finance Bank, TVS Motor and Nestle
F&O Stocks in Ban:
Stocks in Ban: Indiabulls Hsg., Idea, IRCTC, PNB, Sun TV
Stocks added: -
Stocks out of ban: Exide Ind., NALCO, SAIL
FII/DII Activity:**
FIIs were net buyers for ₹1,041.92crore while DIIs ₹2,167.62 crore in the cash segment. In the Derivatives market, FIIs bought index futures worth ₹283.47 crore while in index options they bought ₹2,432.7 crore. In the stock futures segment, they sold ₹177.36 crore while in Stock Options they bought worth ₹32.6 crores
*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 a decrease in Open Interest (OI) along with a decrease in price.
**Source: nseindia.com
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