Global Markets Update
SGX Nifty is trading in the red, down by 43 points. Major Asian markets are also trading lower; Nikkei dipped 1%, and Hang Seng is closed on account of the Chinese New Year Holidays.
The European markets closed higher in the range of 0.1% to +0.6%. The US markets extended their weekly gains and closed higher for the fourth consecutive day. The Dow Jones rose 0.6%, and the NASDAQ climbed 0.5%.
Stock Action
Long build-up was seen in Intellect Design, Apollo Tyres, AB Capital, PNB and Can Fin Homes.
Short build-up was seen in Chola Investments, Jubilant Foodworks, Polycab, Balrampur Chini and Chambal Fertilisers.
F&O stocks in ban
Stocks in ban: -
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹183 crore while DIIs were net buyers of ₹425 crore. In the derivatives market, FIIs bought index futures worth ₹1,697 crore and bought index options worth ₹123 crore. Further, they bought stock futures worth ₹217 crore and bought stock options worth ₹50 crore.
Index Action
Nifty50
The Budget cheer and the positive global cues lifted the Nifty50 to close higher for the third straight day. Financials and IT stocks pushed the Nifty50 to close at a two-week high at 17,780, up by 203 points.
The India VIX dropped 6.6% to 18.65.
The Nifty50’s monthly options expiring on February 24 are scattered and have sizable positions at 18,000 and 18,500 call options and 17,000 and 17,500 put options.
The Nifty50’s weekly options expiring on February 3 have sizable positions at 18,000 and 18,100 call options and 17,700 and 17,600 put options.
As per the options data, the broad range for the Nifty50 is between 16,600 and 18,600 levels. Its immediate support is at 17,200 and resistance is at 18,000 levels.
Bank Nifty
The Bank Nifty rose steadily without major dips and conquered the 39,300 mark. Both PSU and private banks participated in the rally, and the index jumped 2.1% to end the day at 39,330.
The Bank Nifty’s monthly options expiring on February 24 are scattered and have sizable positions at 39,000 and 40,000 call options and 38,000 and 38,500 put options.
The Bank Nifty’s weekly options expiring on February 3 have sizable positions at 40,000 and 39,500 call options and 39,000 and 38,000 put options.
As per the options data, the broad range for the Bank Nifty is between 37,400 and 40,500 levels. Its immediate support is at 38,200 and resistance is at 39,900 levels.
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