Global Markets Update
SGX Nifty is trading in the green, up by 137 points. Major Asian markets are also trading in the green, Nikkei is up 0.7%, and Hang Seng is trading 0.2% higher.
The European markets closed in the red in the range of -1.3% to -0.8%. The US markets surged on Friday due to a sharp recovery in tech stocks. The Dow Jones closed 1.6% higher, and NASDAQ added 3.1%.
Stock Action
Long build-up was seen in Alkem Labs, Bata, Bsoft, Indian Hotels and Dalmia Bharat.
Short build-up was seen in BHEL, Tech Mahindra, RBL Bank, Eicher Motor and Torrent Pharma
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 ₹5,045 crore while DIIs were net buyers of ₹3,358 crore. In the derivatives market, FIIs sold index futures worth ₹1,728 crore and sold index options worth ₹3,721 crore. Further, they bought stock futures worth ₹1,245 crore and sold stock options worth ₹369 crore.
Index Action
Nifty50
The Nifty50 reversed sharp gains and witnessed wild swings on Friday. With a hawkish stand of the US Federal Reserve, it dropped nearly 3% for the week and ended flat on Friday at 17,101, down by 8 points.
India VIX slipped 1.7% to 20.69.
The Nifty50’s monthly options expiring on February 24 are scattered and have sizable positions at 18,000 and 18,500 call options and 16,500 and 17,000 put options.
The Nifty50’s weekly options expiring on February 3 have sizable positions at 17,500 and 17,300 call options and 17,500 and 17,000 put options.
As per the options data, the broad range for the Nifty50 is between 16,400 and 18,000 levels. Its immediate support is at 16,800, and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty slumped below the 38,000 mark in the second half on Friday. It ended the week with gains of nearly 0.3% and closed 292 points lower at 37,689. The overall breadth of the banking stocks remained negative as 8 out of the 12 stocks closed in red.
The Bank Nifty’s monthly options expiring on February 24 are scattered and have sizable positions at 39,000 and 39,500 call options and 36,000 and 37,000 put options.
The Bank Nifty’s weekly options expiring on February 3 have sizable positions at 39,000 and 38,000 call options and 37,000 and 36,000 put options.
As per the options data, the broad range for the Bank Nifty is between 36,300 and 39,800 levels. Its immediate support is at 37,100, and resistance is at 38,400 levels.