F&O Morning Update for 29 September 2021

Global Markets Update

SGX Nifty is trading down by 123 points. Major Asian markets are trading in the red range of 1% to 2%.

Yesterday, major European indices also closed down in the range of 0.5% to 2%. The US markets closed in the red with the DOW Jones closing down by 569 points or 1.6% and Nasdaq closing down by 423 points or 2.8%. 

Index Action

Nifty50

Nifty50 had a volatile session yesterday. It recovered nearly 200 points from the day’s low and closed at 17,748 down by 106 points. 

September series call options suggest a high base at 18,000 and 17,900 strikes. Put options have a significant base at 17,500 and 17,600 the highest base continues to be at 17,000 strike. 

PCR-OI data shows immediate support and resistance at 17,600 and 18,200 respectively.

Bank Nifty

Bank Nifty also had a volatile day yesterday wherein it touched the lows of 37,315. It recovered by nearly 700 points during the last hour of trade and closed at 37,945 down by 226 points. 

Monthly options data shows the highest call options base at 39,000 and the second highest base at 38,000. For put options, the highest base continues at 37,000 followed by 36,000. 

PCR-OI data indicates a downward shift in support levels at 37,500 while the immediate resistance continues to be at 38,500. 

F&O Stocks in Ban

Stocks in Ban: Idea, Sail, Sun TV and Zee TV

Stocks added: Sun TV

Stocks out of ban: Canara Bank, Escorts, Indiabulls Hsg., IRCTC, PNB, 

FII/DII Activity**

In the cash market, FIIs were net sellers for ₹1,957 crores while DIIs were net buyers for ₹161 crores. In the Derivatives market, FIIs sold index futures worth ₹2,205 crores while they bought  Index options worth ₹9,082 crores. For stocks, they sold stock futures worth ₹2,340 crores and sold stock options worth ₹679 crores

*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 decrease in Open Interest (OI) along with decrease in price.

**Source: nseindia.com. Cash market figures are provisional.