Asian Markets Update @ 7:30 am
The SGX Nifty was trading higher by 33 points at 7:30 am, suggesting a positive start for the Nifty50 today. Among Asian markets, Nikkei 225 in Japan rose 0.5%, while the Hong Kong market was closed on account of the Christmas holiday.
Index Action
Nifty50
December Futures: 18,018 📈▲ 154 (+0.8%)
OI contracts: 1,57,432 (-20%)
After a fall of over 3% in the last three trading sessions, the Nifty50 index witnessed a short-covering bounce and closed Monday’s session higher. However, towards the fag-end, the index faced a hurdle around 18,100-mark and declined more than 70 points from the day’s high.
Nifty50’s options contracts expiring on 29 December have sizable positions at 18,000 and 18,200 call options and 18,000 and 17,500 put options.
As per options data and OI analysis, the broad range for the Nifty50 is between 17,000 and 18,500 levels. On the other hand, 17,400 and 18,200 are the critical levels to watch for the current week.
Bank Nifty
December Futures: 42,655 📈▲ 919 (+2.2%)
OI contracts: 61,007 (-25%)
The Bank Nifty index snapped its four-day losing streak and climbed the 42,500-mark. Led by a strong rally in PSU banks, the banking index recovered more than half of its losses, witnessed in the previous three trading sessions.
Except for Kotak Mahindra Bank (-0.4%), all the other eleven stocks of the banking index ended in green. Punjab National Bank (+7.6%) and Federal Bank (+6.7%) topped the charts.
Bank Nifty’s options contracts expiring on 29 December have sizable positions at 43,000 and 43,500 call options and 42,000 and 41,500 put options.
As per options data and OI analysis, the broad range for the Bank Nifty is between 41,500 and 43,500 levels. On the other hand, 42,200 and 43,000 are the critical levels to watch for the current week.
FII and DII Data**💰
The Foreign Institutional Investors (FIIs) sold shares worth ₹497 crore, while Domestic Institutional Investors (DIIs) purchased shares worth ₹1,285 crore in the cash market. In the derivatives market, FIIs bought index futures worth ₹1,032 crore and sold index options worth ₹12,740 crore. Further, they bought stock futures worth ₹2,298 crore and bought stock options worth ₹105 crore.
India VIX
The India VIX, which measures the implied volatility of Nifty50 options, fell 1.4% to 15.93.
Stock Action📊
Long build-up was seen in Federal Bank, Bank of Baroda, Bharti Airtel, Ramco Cements and Siemens.
Short build-up was seen in Ipca Labs, Syngene International, Kotak Mahindra Bank, Cipla and Dr. Reddy’s.
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.
Download the Upstox App Today