SGX Nifty is trading up by 18 points. Major Asian markets are trading in the red with Nikkei trading down by nearly 1% and Hang Seng trading down by 0.3%.
European markets closed lower in the range of 0.2% to 0.3%. US markets saw selling pressure towards the close, and both Dow Jones and NASDAQ closed near their respective day's low. Dow Jones closed 0.7% lower, and NASDAQ gave up all gains and closed flat.
Stock Action
Long Build-up was seen in stocks like SBI, United Spirits, United Breweries, UPL and Cummins India.
Short Build-up was seen in stocks like Axis Bank, Bandhan Bank, HUL, Torrent Pharma and Indusind Bank.
F&O Stocks in Ban
Stocks in Ban: Canara Bank, Indiabulls Housing, NMDC and Sun TV
Stocks added: -
Stocks out of ban: IEX and SAIL
FII/DII Activity**
In the cash market, FIIs were net sellers for ₹1,913 crore while DIIs were net buyers for ₹472 crore. In the Derivatives market, FIIs sold index futures worth ₹2,552 crore while they bought Index options worth ₹1,442 crore. For stocks, they sold stock futures worth ₹1,611 crore and bought stock options worth ₹1,199 crore.
Index Action
Nifty50
Yesterday, after a positive start, Nifty50 saw sharp profit-booking in the second half. It closed the day 57 points lower at 18,210.
India VIX inched higher to 16.82.
Nifty October monthly series options have sizable positions at 18,300 and 18,500 call options and 18,200 and 18,000 put options. Unwinding was seen at 18,200 call options and additions were seen at 18,200 put options.
Options data suggests a broad range for Nifty50 between 17,500 and 18,600 levels. Its immediate support is at 18,000 and resistance is at 18,400 levels.
Bank Nifty
Bank Nifty had a range-bound first half but came under selling pressure towards the second half. It closed 363 points lower at 40,874.
October monthly series options have significant positions at 42,000 and 41,500 call options and 40,500 and 40,000 put options. Further additions were seen at 41,000 call option and 40,800 put option.
Options data suggests a broad range for Bank Nifty between 40,000 and 42,000 levels. It’s Immediate support is at 40,500 and resistance is at 41,400 levels.
*In Futures and Options or F&O, Long build-up means increase in Open Interest (OI) along with increase in price and Short build-up means increase in Open Interest (OI) along with decrease in price.
**Source: nseindia.com. Cash market figures are provisional.
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