Global Markets Update
SGX Nifty is trading in the red, down by 273 points. Major Asian markets are trading lower amid escalating tensions between Russia and Ukraine. Japan's Nikkei declined 1.1% (7 am), while Hong Kong's Hang Seng index was down 1.8% (7 am).
European markets closed flat to negative in the range of -0.4% to +0.05%. US markets gave up opening gains and closed near day's lows. The Dow Jones fell 1.3%, and NASDAQ lost 2.5%.
Stock Action
Long build-up was seen in Crompton, GSPL, Titan, GAIL and Bandhan Bank.
Short build-up was seen in Gujarat Gas, Ambuja Cements, Whirlpool, IDFC and UPL.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance, Vodafone Idea and PNB
Stocks added: Vodafone Idea
Stocks out of ban: Escorts
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,417 crore, while DIIs were net buyers of ₹3,024 crore. In the derivatives market, FIIs bought index futures worth ₹79 crore and bought index options worth ₹1,912 crore. Further, they bought stock futures worth ₹1,361 crore and bought stock options worth ₹728 crore.
Index Action
Nifty50
The Nifty50 closed lower for the sixth consecutive session despite trading higher for most of the day. The rising geopolitical tensions and oil prices kept the investors spooked. Losses in Auto and IT shares dragged the index lower, while Realty and PSU Banks stocks provided support. Yesterday, the Nifty50 closed 28 points lower at 17,063.
The India VIX dropped 7.95% to 24.54.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 17,500 and 17,200 call options and 17,000 and 17,100 put options. Further additions were seen at 17,200 call options and 17,100 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 16,700 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty traded above the 37,500 mark throughout the day before selling in the last hour pulled it lower. The breadth favoured the advances, while selling in select private banks dragged the index lower. Yesterday, the Bank Nifty closed 20 points higher at 37,392.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 38,000 and 37,500 call options and 37,000 and 36,500 put options. Further additions were seen at 37,800 call options and 37,300 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 36,800 and resistance is at 38,300 levels.