Global Markets Update
SGX Nifty is trading in the green, up by 166 points. Major Asian markets are trading mixed. Japan’s Nikkei dropped 0.7%(7 am), and Hong Kong’s Hang Seng index jumped 1.1%(7 am).
European markets closed higher in the range of 0.8% to +3%. U.S. markets closed higher as Russia pledged to cut down its military operations in Kyiv and Northern Ukraine. The Dow Jones rose 0.9%, while NASDAQ climbed 1.8%.
Stock Action
Long build-up: Eicher Motors, Indus Towers, Intellect Design, Bharti Airtel and Tata Chemicals.
Short build-up: Hero MotoCorp, Federal Bank, United Spirits, Hindustan Copper and NBCC.
F&O stocks in ban
Stocks in ban: PVR, Sun TV and Vodafone-Idea
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹35 crore, while DIIs were net buyers of ₹1,713 crore. In the derivatives market, FIIs bought index futures worth ₹680 crore and bought index options worth ₹3,533 crore. Further, they sold stock futures worth ₹1,506 crore and bought stock options worth ₹557 crore.
Index Action
Nifty50
After a gap-up opening, the Nifty50 maintained its gains throughout the day. Supported by positive global cues and lower crude oil prices, the headline index closed in positive territory for the second consecutive day. Gains in financial, pharma and cement stocks pushed the Nifty50 over 17,300 mark, and it closed 103 points higher at 17,325.
The India VIX dropped 5.7% to 21.30
The Nifty50’s monthly options expiring on March 31 have sizable positions at 17,500 and 17,300 call options and 17,000 and 17,200 put options.
As per options data, the broad range for the Nifty50 is between 16,300 and 18,000 levels. Its immediate support is at 16,900 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty had a volatile session and failed to surpass the 36,000 mark. Led by gains in index heavyweights like HDFC and ICICI Bank, the Bank Nifty jumped 136 points to 35,847.
The Bank Nifty’s monthly options expiring on March 31 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 Bank Nifty is between 34,500 and 37,800 levels. Its immediate support is at 35,000 and resistance is at 36,400 levels.