Global Markets Update
SGX Nifty is trading in the green, up by 44 points. Major Asian markets are also trading higher. Japan’s Nikkei advanced 0.7%(7 am) and Hong Kong’s Hang Seng index gained 0.5%(7 am).
European markets closed higher in the range of 0.6% to 1.5%. The U.S. markets rebounded sharply. The Dow Jones closed 1.7% higher, and NASDAQ rose 1.6%.
Stock Action
Long build-up was seen in ONGC, Axis Bank, HDFC Life, Hindustan Copper and Muthoot Finance.
Short build-up was seen in HDFC Bank, ICICI Bank, Maruti Suzuki, HPCL and Dr.Reddy’s.
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 ₹4,338 crore, while DIIs were net buyers of ₹3,061 crore. In the derivatives market, FIIs sold index futures worth ₹3,244 crore and sold index options worth ₹525 crore. Further, they sold stock futures worth ₹1,254 crore and sold stock options worth ₹172 crore.
Index Action
Nifty50
Lower than expected GDP growth and soaring oil prices dented the overall market sentiment. The Nifty50 ended yesterday's session lower but managed a strong recovery towards the last hour and closed above 16,600. Financials and Auto stocks were among the worst hit, while Oil & Gas and Metal stocks bucked the trend. The Nifty50 fell 187 points to 16,605.
The India VIX climbed 2.3% to 29.23.
The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 18,000 and 17,500 call options and 16,500 and 16,000 put options.
The Nifty50’s weekly options expiring on March 3 have sizable positions at 16,700 and 16,800 call options and 16,500 and 16,400 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 17,600 levels. Its immediate support is at 16,200 and resistance is at 17,000 levels.
Bank Nifty
The Bank Nifty fell and underperformed the benchmark indices by over 1% but held the 35,300 mark at the close. Leading private banks slipped the most, and losses in 9 out of the 12 stocks dragged the index lower. The Bank Nifty closed 832 points lower at 35,372.
The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 38,000 and 37,000 call options and 35,000 and 34,000 put options.
The Bank Nifty’s weekly options expiring on March 3 have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,000 put options.
As per options data, the broad range for the Bank Nifty is between 34,200 and 37,500 levels. Its immediate support is at 34,800 and resistance is at 36,200 levels.