Global Markets Update: SGX Nifty is trading up by 20 points at 17,848. The Asian markets are trading mixed today with Hang Seng down by 0.5% and Nikkei up by 1.75%. Yesterday, major European indices closed up by nearly 1% except the FTSE 100 (London) which closed flat.The US markets closed in the green, with DOW Jones moving up by over 500 points or 1.5% higher and Nasdaq moving up by 155 points or 1% higher.
Index Action
Nifty50: Nifty50 had a strong session yesterday and touched an all-time of 17,843. It closed 276 points higher at 17,823.
Monthly call options have a high open interest base at 18,500 followed by 18,000 strike. Monthly put options have 17,500 and 17,000.
While options open interest data suggests a broad range for Nifty50 at 17,000 and 18,500, the PCR-OI data suggests narrow range of 17,600 to 18,200.
Bank Nifty: Bank Nifty too had a strong run yesterday closing 827 points higher at 37,771.
Monthly options data shows a high call options base at 39,000 strike followed by 38,000 strike. Put options have the highest base 37,000 strike followed by 37,500 strike.
While the options open interest data suggests a broad range of 37,000 and 39,000, the PCR-OI data suggests a narrow range of 37,300 and 38,200.
Stock Action*
Long Build-up was seen in stocks like Dixon Technologies, Godrej Properties, ABFRL, United Breweries, United Spirits, Piramal Enterprises
Short Build-up was seen in stocks like ICICI Lombard, Colgate Palmolive, Astral, Dr. Reddy’s, Zee TV.
F&O Stocks in Ban:
Stocks in Ban: Canara Bank, Escorts, Indiabulls Hsg., Idea, IRCTC, PNB,
Stocks added: Canara Bank
Stocks out of ban: SUN TV
FII/DII Activity:**
In the cash market, FIIs were net buyers for ₹357 crores while DIIs were net buyers for ₹1,173 crores. In the Derivatives market, FIIs bought index futures worth ₹742 crores while they sold Index options worth ₹3,775 crores. For stocks, they bought stock futures worth ₹651 crores and bought stock options worth ₹252 crores
*In Futures and Options or F&O, Long build-up means increase in Open Interest (OI) along with increase in price and Short build-up means decrease in Open Interest (OI) along with decrease in price.
**Source: nseindia.com. Cash market figures are provisional.
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