Global Markets Update
SGX Nifty is trading down by 50 points. Major Asian markets are trading mixed in the range of -0.5% to 1%.
Yesterday, major European indices closed in the green, up about 1%. The US markets closing was mixed with the DOW Jones closing up by 90 points and Nasdaq closing down by 34 points.
Index Action
Nifty50
Nifty50 closed in the red yesterday at 17,711, down by 37 points. It was yet another volatile session for the Nifty50 where it recovered sharply from the day’s lows of 17,608 and even traded in the green for a brief while before profit-booking dragged it back into the red.
Today is the expiry for September series contracts. India VIX continued its upward march and is trading at 18.8 levels suggesting that traders should expect the high volatility to continue in the upcoming trading sessions.
Nifty50 September call options have the highest base at 18,000 and 17,900 strikes. Put options have the highest base at 17,000 and 17,600 strikes.
PCR-OI data indicates support around 17,600 levels and resistance around 18,000 levels.
Bank Nifty
Bank Nifty showed signs of dullness and closed down by 200 points at 37,743. It bounced back from the day’s lows of 37,371 but could not gather enough momentum to trade in the green.
Monthly options data shows the highest call options base at 38,000 and the second highest base at 39,000. For put options, the highest base continues at 37,500 followed by 37,000.
PCR-OI data indicates a downward shift in support levels at 37,300 while the immediate resistance continues to be at 38,500.
F&O Stocks in Ban:
Stocks in Ban: Sun TV
Stocks added: -
Stocks out of ban: Idea, Sail and Zee TV
FII/DII Activity:**
In the cash market, FIIs were net sellers for ₹1,446 crores while DIIs were net buyers for ₹3,262 crore. In the Derivatives market, FIIs sold index futures worth ₹1,572 crore while they bought Index options worth ₹3,220 crore. For stocks, they sold stock futures worth ₹3,676 crores and bought stock options worth ₹73 crore.
*In Futures and Options or F&O, Long build-up means increase in Open Interest (OI) along with increase in price and Short build-up means decrease in Open Interest (OI) along with decrease in price.
**Source: nseindia.com. Cash market figures are provisional.