Global Markets Update
Amid mixed global cues, the SGX Nifty is trading in the red, down by 19 points. Major Asian markets are also trading lower. Japan's Nikkei and Hong Kong's Hang Seng index declined 0.8%(7 am).
European markets closed flat to positive in the range of -0.03% to +0.2%. On Friday, U.S markets gave a mixed closing as investors considered the possibility of bigger than anticipated rate hikes from the U.S Fed. The Dow Jones rose 0.4%, while NASDAQ dropped 0.1%.
Stock Action
Long build-up: ConCor, Atul Ltd, PVR, MCX and Indian Hotels.
Short build-up: Indus Towers, Abbott India, Titan, LTTS and Manappuram.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance, L&T Finance, SAIL, Sun TV and Vodafone Idea
Stocks added:
Stocks out of ban: Balrampur Chini and Delta Corp
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,507 crore, while DIIs were net buyers of ₹1,373 crore. In the derivatives market, FIIs sold index futures worth ₹224 crore and sold index options worth ₹540 crore. Further, they sold stock futures worth ₹343 crore and sold stock options worth ₹133 crore.
Index Action
Nifty50
On Friday, the Nifty50 started the session on a positive note and soon slipped into the red. The index spent the rest of the session in a narrow range and declined 69 points to 17,153.
The India VIX dropped 2% to 23.43.
The Nifty50’s monthly options expiring on March 31 have sizable positions at 17,500 and 17,200 call options and 17,000 and 17,200 put options.
As per options data, the broad range for the Nifty50 is between 16,300 and 18,000 levels. Its immediate support is at 16,900 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty slipped from the high of 35,717 and ended the day in the red. With intensified selling pressure in private banks, the Bank Nifty closed 117 points lower at 35,410.
The Bank Nifty’s monthly options expiring on March 31 have sizable positions at 36,000 and 37,000 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,300 and 37,800 levels. Its immediate support is at 34,700 and resistance is at 36,000 levels.