Global Markets Update
The SGX Nifty is trading in the green, up by 160 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 0.9%, while Hong Kong and China markets were closed for public holidays.
On Thursday, the US markets closed higher and snapped a two-day losing streak. The Dow Jones rose 1.3%, while the Nasdaq climbed 2.6%. The European markets had a mixed closing in the range of -1% to +1.2%.
Stock Action
Long build-up was seen in Abbott India, Federal Bank, Polycab, Bank of Baroda and Bajaj Finserv.
Short build-up was seen in Coromandel, Apollo Hospitals, Biocon, JK Cement and RBL Bank.
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 ₹451 crore, while DIIs were net buyers of ₹130 crore. In the derivatives market, FIIs sold index futures worth ₹1,349 crore and sold index options worth ₹1,511 crore. Further, they bought stock futures worth ₹613 crore and sold stock options worth ₹50 crore.
Index Action
Nifty50
The Nifty50 snapped a two-day losing streak, enthused by the fall in crude oil prices. Gains in heavyweights like Reliance Industries, TCS and Infosys moved the index higher, while auto and financials kept upside capped. The Nifty50 ended the day 105 points higher at 16,628.
The India VIX slipped 2.5% to 20.32.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 9 June have sizable positions at 17,000 and 16,600 call options and 16,000 and 16,500 put options.
As per options data, the broad range for the Nifty50 is between 15,900 and 17,500 levels. Its immediate support is at 16,400 and resistance is at 16,900 levels.
Bank Nifty
The Bank Nifty recovered from the opening low of 35,385 and ended the day flat. Heavyweight private banks like HDFC Bank and ICICI Bank dragged the index lower, while PSU banks like PNB and Bank of Baroda lent support. The Bank Nifty ended the day 7 points lower at 35,613.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 36,000 call options and 33,000 and 35,000 put options.
The Bank Nifty’s options contracts expiring on 9 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 35,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,500 and 36,700 levels. Its immediate support is at 35,200 and resistance is at 36,000 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.
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