SGX Nifty is trading in the green, up by 95 points. Major Asian markets are trading flat to positive; Nikkei is up nearly 0.4% and Hang Seng is down by 0.06%.
European markets closed higher in the range of 0.6% to 1.2%. US markets closed firmly in the green. Dow Jones closed up by 0.7% and NASDAQ closed up by almost 1.2%.
Stock Action
Long build-up was seen in India Cements, SRF, NALCO, Coforge and JK Cement.
Short build-up was seen in stocks like Vodafone-Idea, Dixon Technologies, Whirlpool, MFSL and ICICI Lombard.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance, Vodafone-Idea and Zee Entertainment.
Stocks added: Vodafone Idea
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹827 crore while DIIs were net buyers of ₹1,593 crore. In the derivatives market, FIIs sold index futures worth ₹809 crore and sold index options worth ₹2,485 crore. Further, they bought futures worth ₹2,130 crore and bought stock options worth ₹42 crore.
Index Action
Nifty50
Nifty50 extended its up move for the second consecutive day and closed above 16,900. Broad based rally led by Pharma and Metal stocks took the headline index 184 points higher at 16,955.
India VIX slipped to 16.58.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,000 call options and 16,500 and 17,000 put options.
Nifty50’s weekly options expiring on December 23 have sizable positions at 17,200 and 17,300 call options and 16,800 and 16,500 put options. Further additions were seen at 17,050 call options and 16,900 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,500 and resistance is at 17,200 levels.
Bank Nifty
Bank Nifty was trading steadily in the green and with a fresh round of buying towards the last hour of trading session helped it cross the physiological level of 35,000. It ended the day 421 points higher at 35,029.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 36,000 and 37,000 call options and 34,000 and 35,000 put options.
Bank Nifty’s weekly options expiring on December 23 have sizable positions at 36,000 and 35,000 call options and 34,500 and 35,000 put options. Further additions were seen at 35,200 call options and 35,000 put options.
As per the options data, the broad range for Bank Nifty, is between 33,400 and 36,600 levels. Its immediate support is at 34,200 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.