Global Markets Update
SGX Nifty is trading in the green, up by 74 points. Major Asian markets are trading higher; Nikkei climbed 1.1% and Hang Seng gained 0.2%.
European markets closed higher in the range of 0.5% to 0.76%. As US markets opened after the Christmas holiday the Dow Jones rose almost 1% and NASDAQ ticked up about 1.4%.
Stock Action
Long build-up was seen in Navin Fluorine, GMR Infra, Tech Mahindra, Granules and Laurus Labs.
Short build-up was seen in stocks like RBL Bank, United Breweries, AU Small Finance Bank, Hindalco and City Union Bank.
F&O stocks in ban
Stocks in ban: Escorts, Indiabulls Housing Finance, Vodafone-Idea and RBL Bank.
Stocks added: RBL Bank
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,038 crore while DIIs were net buyers of ₹955 crore. In the derivatives market, FIIs bought index futures worth ₹55 crore and bought index options worth ₹7,943 crore. Further, they bought stock futures worth ₹537 crore and bought stock options worth ₹315 crore.
Index Action
Nifty50
Nifty50 recovered its opening losses and ended the volatile session higher. Gains in Pharma, private banks and the IT sector pushed the index higher. It settled at 17,086, up 82 points from its previous close.
India VIX climbed to 17.11.
Nifty50’s monthly options expiring on December 30 have sizable positions at 17,500 and 17,000 call options and 17,000 and 16,800 put options. Further additions were seen at both 17,000 call options and put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,700 and resistance is at 17,300 levels.
Bank Nifty
Bank Nifty rallied to a high of 35,143, up 910 points from the day’s low. It ended the day 200 points higher at 35,057.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 36,000 and 35,000 call options and 35,000 and 34,000 put options. Further additions were seen at both 35,000 call options and 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.
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