Global Markets Update
SGX Nifty is trading 65 points higher. Major Asian markets are trading mixed with Nikkei trading about 1% higher and Hang Seng trading about 0.5% lower.
On Friday, European markets closed in the red from 0.04% to 0.8%. Dow Jones closed 482 points or 1.4% higher and the NASDAQ closed 118 points or 0.8% higher.
Index Action
Nifty50
Last week Nifty corrected nearly 2%. On Friday, it saw its fifth consecutive negative closing as it closed 86 points lower at 17,532.
India VIX came down to 17.2 levels but continues to remain high.
The Nifty50 October monthly call options have the highest base at 18,000 and 18,500 strikes. Put options have the highest base at 17,000 and 17,500 strikes.
Nifty50 October 7 weekly expiry call options have significant bases at 17,700 and 18,000 strikes. Weekly put options for the same expiry have significant bases at 17,500 and 17,400 strikes.
Weekly options suggest immediate resistance for Nifty50 at 17,700 levels and support at 17,400 levels.
Bank Nifty
On Friday, Bank Nifty closed 199 points down at 37,225 levels.
October monthly options data shows the highest call options base at 38,000 and the second highest base at 38,500. For put options, the highest base is at 36,000 and 37,000 strikes.
Bank Nifty50 October 7 weekly expiry call options have significant bases at 37,500 and 38,000 levels. Weekly put options for the same expiry have significant bases at 37,000 and 36,500 levels.
Weekly options suggest immediate resistance for Bank Nifty at 37,500 levels and support at 37,000 levels.
Stock Action*
Long Build-up was seen in stocks like TVS Motor, Trent, Page Industries, Bata India and Muthoot Finance.
Short Build-up was seen in stocks like Can Fin Home, Gujarat Gas, Strides Pharma, HDFC and ICICI Bank.
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 for ₹131 crores while DIIs were net sellers for ₹613 crores. In the Derivatives market, FIIs bought index futures worth ₹415 crores while they bought Index options worth ₹1,580 crores. For stocks, they sold stock futures worth ₹778 crores and sold stock options worth ₹546 crores.
*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.