Global Markets Update
The SGX Nifty is trading in the red, down by 45 points. Major Asian markets are trading lower. In Japan, the Nikkei fell 0.2%, and Hong Kong’s Hang Seng index slipped 0.2% at 7 am India time.
The European markets closed higher in the range of 0.2% to 0.7%, while the US markets were closed on account of a holiday.
Stock Action
Long build-up was seen in ABB, Dixon Technologies, Persistent, Rain Industries and HDFC.
Short build-up was seen in JSW Steel, Sun Pharma, Aurobindo Pharma, Jindal Steel and Power and Dr. Lal Pathlabs.
F&O stocks in ban
Stocks in ban:
Stocks added:
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net buyers of ₹502 crore, while DIIs were net buyers of ₹1,524 crore. In the derivatives market, FIIs bought index futures worth ₹1,806 crore and bought index options worth ₹515 crore. Further, they bought stock futures worth ₹1,459 crore and sold stock options worth ₹169 crore.
Index Action
Nifty50
The Nifty50 settled with robust gains and ended in the green for the third straight session, aided by positive global cues and broad-based gains across sectors. With a strong breadth of 45 advances to 5 declines, the Nifty50 climbed 308 points to 16,661.
The India VIX slipped 6.9% to 19.98.
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 2 June have sizable positions at 17,000 and 16,700 call options and 16,300 and 16,500 put options.
As per options data, the broad range for the Nifty50 is between 15,800 and 17,600 levels. Its immediate support is at 16,300 and resistance is at 17,000 levels.
Bank Nifty
The Bank Nifty also faced selling pressure near day's high and slipped to 35,700 levels. However, the index staged a recovery from the day's low and managed to close above the 35,800-mark. With ten out of the 12 stocks closing in the green, the Bank Nifty closed 213 points higher at 35,826.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 38,000 and 36,000 call options and 33,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 2 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,000 put options.
As per the options data, the broad range for the Bank Nifty is between 34,300 and 36,800 levels. Its immediate support is at 35,000 and resistance is at 36,200 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.