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F&O Morning Update for 24 November 2022

Blog | F&O

Asian Markets Update @ 7:30 am

The SGX Nifty was trading higher by 86 points at 7:30 am, signalling a gap-up start for the Nifty50 today. Major Asian markets were also trading in the green. Nikkei 225 in Japan rose 1.1%, while Hong Kong’s Hang Seng index climbed 0.5%.

Global Markets Update 

U.S. stocks closed Wednesday's volatile session higher. This comes after minutes from the U.S. Federal Reserve's latest meeting suggested that the central bank is looking to hand out smaller rate hikes in the coming months.

The Dow Jones rose 0.2% to 34,194, while the S&P 500 gained 0.5% and closed at 4,027. The tech-focused Nasdaq jumped 0.9% to 11,285. The European markets ended Wednesday's session flat with a positive bias.


Index Action

Nifty50 @ 18,267 📈23 (+0.1%)

After a gap-up start, the Nifty50 index traded in a narrow range amid bouts of intraday volatility and closed Wednesday’s session higher with minor gains. Most sectors ended in the green, with PSU Banks (+1.1%) and Oil & Gas (+0.5%) advancing the most. Metals (-0.4%) and IT sectors (-0.1%) remained under pressure.   

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Nifty50’s options contracts expiring on 24 November have sizable positions at 18,400 and 18,300 call options and 18,200 and 18,300 put options. 

As per options data and OI analysis, the broad range for the Nifty50 is between 17,800 and 18,700 levels. On the other hand, 18,100 and 18,400 are the critical levels to watch for the current week.

Bank Nifty @ 42,729 📈272 (+0.6%)

The Bank Nifty hit a fresh all-time high and outperformed the broader markets. The banking index rallied 272 points and closed at a record high of 42,729. All the twelve stocks of the index closed in the green, with Punjab National Bank (+4.4%) and Federal Bank (+2.2%) being the top gainers. 

Bank Nifty’s options contracts expiring on 24 November have sizable positions at 42,800 and 43,000 call options and 42,700 and 42,500 put options. 

As per options data and OI analysis, the broad range for the Bank Nifty is between 41,800 and 43,400 levels. On the other hand 42,400 and 43,000 are the critical levels to watch for the current week.


FII and DII Data**💰

In the cash market, FIIs sold shares worth ₹789 crore, while DIIs bought shares worth ₹413 crore. In the derivatives market, FIIs bought index futures and options worth ₹282 crore and ₹13,082 crore. Further, they bought stock futures worth ₹1,197 crore and sold stock options worth ₹148 crore.

India VIX 

The India VIX, which measures the implied volatility of Nifty50 options advanced 1.4% to 14.04.


Stock Action📊

Long build-up was seen in Punjab National Bank, GMR Infra, Bank of Baroda, Bharat Petroleum and Abbott India.

Short build-up was seen in ICICI Prudential, Ipca Labs, Power Grid, Mphasis and Nestle. 

Under F&O Ban: Punjab National Bank


*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. 

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