Global Markets Update
SGX Nifty is trading in the green, up by 73 points. Major Asian markets are trading higher; Nikkei is up 0.1% and Hang Seng advanced 0.7%.
European markets closed higher in the range of 0.4% to 1%. US markets rose for the third in a row. Dow Jones jumped 0.5%, while NASDAQ climbed 0.8%.
Stock Action
Long build-up was seen in Birlasoft, FSL, Granules, L&T Finance and Siemens.
Short build-up was seen in stocks like Dixon Technologies, Metropolis, Divis Lab and JK Cement.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance, Vodafone-Idea and Zee Entertainment.
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹271 crore while DIIs were net buyers of ₹1,196 crore. In the derivatives market, FIIs bought index futures worth ₹989 crore and bought index options worth ₹14,196 crore. Further, they bought stock futures worth ₹1,769 crore and sold stock options worth ₹43 crore.
Index Action
Nifty50
Nifty50 firmly traded in the green, mirroring an upbeat mood in the global markets led by gains in Oil & Gas and PSU banks. It traded in a narrow range and ended 117 points higher at 17,072.
India VIX slipped to 15.82.
Nifty50’s monthly options expiring on December 30 have sizable positions at 17,500 and 18,000 call options and 17,000 and 16,500 put options. Further additions were seen at 17,300 call options and 17,000 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,700 and resistance is at 17,300 levels.
Bank Nifty
With PSU Banks outperforming the private banks, Bank Nifty gained further and had a positive closing. It ended the day 161 points higher at 35,191.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 36,000 and 37,000 call options and 35,000 and 34,000 put options. Further additions were seen at 35,500 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 35,900 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.