Global Markets Update
SGX Nifty is trading flat, up by 10 points. Major Asian markets are trading in the green today with Hang Seng up by 0.5% and Nikkei up by 0.3%.
Yesterday, major European indices closed in the green by nearly 0.2%. The US markets were mixed with DOW Jones closing up by 71 points and Nasdaq closing down by 77 points.
Index Action
Nifty50
Nifty50 had a range-bound session yesterday and closed absolutely flat at 17,855 just 1.90 points lower.
Monthly call options suggest a high base at 18,500 and 18,000 strikes and even the 17,900 call options saw open interest addition Put options have a significant base at 17,800 and 17,700 the highest base continues to be at 17,000 strike.
With 3 trading sessions left in this export, PCR-OI data shows immediate support and resistance at 17,600 and 18,200 respectively.
Bank Nifty
Bank Nifty started the week on a positive note and closed 340 points higher at 38,171.
Monthly options data shows the highest call options base at 39,000 and the second highest base at 38,500. For put options, the highest base continues at 37,000 followed by 37,500.
PCR-OI data indicates an upward shift in support and resistance levels at 37,800 and 38,500 respectively.
Stock Action
Long Build-up was seen in stocks like Indian Hotels, ONGC, Bosch, Amara Raja and MCX.
Short Build-up was seen in stocks like Coforge, Metropolis, Dr.Lal Pathlabs, IGL and Divis Lab.
FII/DII Activity:**
In the cash market, FIIs were net sellers for ₹594 crores while DIIs were net buyers for ₹1,397 crore. In the Derivatives market, FIIs bought index futures worth ₹571 crore while they sold Index options worth ₹2,072 crore. For stocks, they sold stock futures worth ₹318 crore and sold stock options worth ₹4 crore.
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