Global Markets Update
SGX Nifty is trading in the red, down by 51 points. Major Asian markets are trading mixed; Nikkei is down nearly 0.2% and Hang Seng is up by 0.1%.
European markets closed flat to negative in the range of -0.3% to -0.02%. U.S markets were shut on account of the Christmas holiday.
Stock Action
Long build-up was seen in FSL, HCL Tech, Coforge, SBI Life and Tech Mahindra.
Short build-up was seen in stocks like Biocon, M&M Financial, OFSS, L&T Finance and Torrent Pharma.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance and Vodafone Idea.
Stocks added: -
Stocks out of ban: Zee Entertainment
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹715 crore, while DIIs were net sellers of ₹43 crore. In the derivatives market, FIIs bought index futures worth ₹70 crore and sold index options worth ₹5,700 crore. Further, they bought stock futures worth ₹394 crore and bought stock options worth ₹410 crore.
Index Action
Nifty50
Nifty50 finished a choppy session on Friday and snapped its three-day winning rally. Pharma and energy stocks weighed heavily on the Nifty50. However, gains in IT stocks limited the downside and it closed 68 points lower at 17,003.
India VIX climbed to 16.14.
Nifty50’s monthly options expiring on December 30 have sizable positions at 17,500 and 17,000 call options and 17,000 and 16,500 put options. Further additions were seen at 17,200 call options and 16,950 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 17,300 levels.
Bank Nifty
Bank Nifty slipped in the red as both PSU and private banks came under selling pressure. Mild recovery was seen toward the end but it failed to close above the 35,000 mark. Bank Nifty ended the day 334 points lower at 34,857.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 36,000 and 35,500 call options and 35,000 and 34,000 put options. Further additions were seen at 35,000 call options and 34,700 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 35,600 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.