Global Markets Update
The SGX Nifty is trading in the red, down by 8 points. Major Asian markets are trading mixed. In Japan, the Nikkei climbed 0.4% and Hong Kong’s Hang Seng index slipped 0.3% at 7 am India time.
The US markets drifted lower with a fall in tech stocks. The Dow Jones fell 0.2%, while the Nasdaq slipped 0.7%. Major European markets ended mixed in the range of -0.4% to +0.6%.
Stock Action
Long build-up was seen in City Union Bank, GNFC, Mahindra & Mahindra, Ashok Leyland and Astral.
Short build-up was seen in Oberoi Realty, HDFC AMC, Kotak Mahindra Bank, Reliance Industries and HDFC Life.
F&O stocks in ban
Stocks in ban: Delta Corp and Sun TV
Stocks out of ban: Indiabulls Housing Finance and RBL Bank
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,278 crore, while DIIs were net buyers of ₹1,184 crore. In the derivatives market, FIIs bought index futures worth ₹205 crore and bought index options worth ₹896 crore. Further, they bought stock futures worth ₹525 crore and bought stock options worth ₹123 crore.
Index Action
Nifty50
Amid positive global clues, the Nifty50 extended its previous week's gains and ended in the green for the third-straight session. All the major sectoral indices closed the session higher, with IT and Metal being the top gainers. The Nifty50 rose 132 points to 15,832.
The India VIX climbed 2.2% to 21.00.
The Nifty50’s options contracts expiring on 30 June have sizable positions at 16,000 and 15,900 call options and 15,500 and 15,700 put options.
As per options data, the broad range for the Nifty50 is between 14,900 and 16,600 levels. Its immediate support is at 15,500 and resistance is at 16,000 levels.
Bank Nifty
The Bank Nifty started the session on a strong note and inched closer to the 34,200-mark. However, the selling pressure at higher levels dragged the index down. Except Bandhan Bank and Kotak Mahindra Bank, all the other ten stocks of the banking index closed higher. The Bank Nifty jumped 183 points and closed Monday's session at 33,811.
The Bank Nifty’s options contracts expiring on 30 June have sizable positions at 34,000 and 35,000 call options and 33,000 and 33,500 put options.
As per the options data, the broad range for the Bank Nifty is between 32,600 and 34,800 levels. Its immediate support is at 33,300 and resistance is at 34,200 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.