Global Markets Update
SGX Nifty is trading in the red, down by 37 points. Major Asian markets are trading lower; Nikkei slipped nearly 0.5% and Hang Seng is down by 0.2%.
European markets closed flat to positive in the range of -0.02% to +0.8%. US markets had a mixed closing. Dow Jones added almost 0.3% and NASDAQ fell nearly 0.6%.
Stock Action
Long build-up was seen in Astral, IRCTC, Mphasis, L&T and Pidilite.
Short build-up was seen in stocks like AU Small Finance Bank, IGL, PVR, ABFRL and NALCO.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance, Vodafone-Idea and RBL Bank.
Stocks added: -
Stocks out of ban: Escorts
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹207 crore while DIIs were net buyers of ₹567 crore. In the derivatives market, FIIs sold index futures worth ₹34 crore and bought index options worth ₹1,286 crore. Further, they bought stock futures worth ₹1,101 crore and sold stock options worth ₹428 crore.
Index Action
Nifty50
Nifty50 surged for the second consecutive day on the back of all-round buying and positive global cues. Auto, Oil & Gas and IT led the rally. 48 stocks from the Nifty50 pack advanced. Nifty ended the day 147 points higher at 17,233.
India VIX slipped to 16.47.
Nifty50’s monthly options expiring on December 30 have sizable positions at 17,500 and 17,300 call options and 17,000 and 17,100 put options. Further additions were seen at 17,300 call options and 17,200 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,800 and resistance is at 17,400 levels.
Bank Nifty
Bank Nifty traded in a tight range yesterday and faced selling pressure at higher levels. It took support near 35,000 and closed at 35,183, up 125 points.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 35,500 and 36,000 call options and 35,000 and 34,000 put options. Further additions were seen at 35,500 call options and 35,200 put options.
As per the options data, the broad range for Bank Nifty, is between 33,400 and 36,600 levels. Its immediate support is at 34,300 and resistance is at 35,700 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.