Global Markets Update
SGX Nifty is trading in the red, down by 34 points. Major Asian markets are also trading in the red; Nikkei is trading lower by 0.2% and Hang Seng is trading lower by 1.1%
European markets closed firmly in the red, in the range of -0.5% to -1.35%. US markets recovered well after Wednesday's sell off and closed in the green. Dow Jones closed higher by 1.8% and NASDAQ closed higher by 0.8%
Stock Action
Long build-up was seen in stocks like Gujarat Gas, GMR Infra, MCX, Persistent and Power Grid.
Short build-up was seen in stocks like Indus Towers, Nippon Life, Crompton Greaves, Vedanta and Info Edge.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance and Vodafone Idea
Stocks added: Vodafone Idea
Stocks out of ban: -
FII/DII Activity**
FIIs were net sellers of ₹909 crore in the cash market, while DIIs were net buyers of ₹1,372 crore. In the derivatives market, FIIs bought index futures worth ₹153 crore and bought index options worth ₹2,506 crore. Further, they bought futures worth ₹48 crore and bought stock options worth ₹154 crore.
Index Action
Nifty50
Nifty50 had a strong run on Thursday as it shrugged off the Omicron concerns and weak global cues. It closed 234 points higher at 17,401.
India VIX slipped further to 18.08.
Nifty50 monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options.
Nifty50 weekly options expiring on December 9 have sizable positions at 18,000 and 17,700 call options and 17,000 and 17,300 put options. Further additions were seen at 17,400 call options and 17,300 put options.
As per options data, the broad range for Nifty50 is between 16,150 and 18,200 levels. It has immediate support at 17,100 and resistance at 17,750 levels.
Bank Nifty
Bank Nifty traded in a 400 point range yesterday and closed in the green due to the buying interest seen in the second half. It closed 143 points higher at 36,508.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 35,500 and 35,000 put options.
Bank Nifty weekly options expiring on December 9 have sizable positions at 37,500 and 37,000 call options and 36,000 and 35,500 put options. Further additions were seen at both 36,500 call put options.
As per the options data, the broad range for Bank Nifty is between 34,700 and 37,900 levels. It has immediate support at 35,400 and resistance at 37,200 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.