Global Markets Update
SGX Nifty is trading in the red, down by 51 points. Major Asian markets are trading mixed; Nikkei gained 1.5%, and Hang Seng is trading 0.2% lower.
The European markets closed firmly in the green in the range of 0.4% to 1.1%. The US markets struggled to hold on to gains and closed lower. The Dow Jones closed flat with a negative bias, while NASDAQ slipped 1.4%.
Stock Action
Long build-up was seen in TVS Motor, Axis Bank, Maruti Suzuki, BHEL and RBL Bank.
Short build-up was seen in Torrent Pharma, TCS, Indiamart, Pidilite and Coforge.
F&O stocks in ban
Stocks in ban: -
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹6,266 crore while DIIs were net buyers of ₹2,881 crore. In the derivatives market, FIIs sold index futures worth ₹3,008 crore and bought index options worth ₹8,378 crore. Further, they sold stock futures worth ₹959 crore and bought stock options worth ₹325 crore.
Index Action
Nifty50
The Nifty50 recovered from the early losses but ended the day lower. IT, Pharma and FMCG dragged the index, while recovery in Banks and Auto stocks helped Nifty50 close above the 17,100 mark. It dropped 167 points to close at 17,110.
India VIX slipped 1.3% to 21.06.
The Nifty50’s monthly options expiring on February 24 are scattered and have sizable positions at 18,000 and 18,500 call options and 16,500 and 17,000 put options.
The Nifty50’s weekly options expiring on February 3 have sizable positions at 18,000 and 17,000 call options and 17,000 and 16,500 put options. Further additions were seen at both 17,100 call and put options.
As per the options data, the broad range for the Nifty50 is between 16,400 and 18,000 levels. Its immediate support is at 16,800 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty slipped to 37,000 levels but recovered sharply to close in green. With PSU banks outperforming the private banks, it gained nearly 3% from day's low to close over 0.7% at 37,982.
The Bank Nifty’s monthly options expiring on February 24 are scattered and have sizable positions at 39,000 and 40,000 call options and 36,000 and 37,000 put options.
The Bank Nifty’s weekly options expiring on February 3 have sizable positions at 38,000 and 39,000 call options and 37,000 and 37,500 put options. Further additions were seen at 38,000 call options and 37,500 put options.
As per the options data, the broad range for the Bank Nifty, is between 36,300 and 39,800 levels. Its immediate support is at 37,300 and resistance is at 38,700 levels.