Global Markets Update
SGX Nifty is trading in the red, down by 38 points. Major Asian markets are trading in the green; Nikkei is up nearly 0.1%. Hang Seng is trading flat with a positive bias and is up 0.04%.
European markets closed higher in the range of 0.8% to 1.4%. US markets had a mixed closing. Notching a record close, Dow Jones rose almost 0.6% and NASDAQ shed 1.3% on the losses in tech shares.
Stock Action
Long build-up was seen in Balrampur Chini, Hindustan Copper, GNFC, Astral and ABFRL.
Short build-up was seen in Vedanta, Tata Communications, Aarti Industries, Marico and Granules.
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 ₹1,273 crore while DIIs were net buyers of ₹532 crore. In the derivatives market, FIIs bought index futures worth ₹703 crore and sold index options worth ₹1,808 crore. Further, they sold stock futures worth ₹1,425 crore and sold stock options worth ₹132 crore.
Index Action
Nifty50
Nifty50 registered its third consecutive day of strong gains on the back of FII buying. Energy and Financials led the rally that saw Nifty50 close higher by 179 points at 17,805.
India VIX slipped 2% to 16.12.
Nifty50’s monthly options expiring on January 27 have sizable positions at 18,000 and 18,500 call options and 17,000 and 17,500 put options.
Nifty50’s weekly options expiring on January 6 have sizable positions at 18,000 and 17,800 call options and 17,600 and 17,500 put options.
As per options data, the broad range for Nifty50 is between 16,400 and 18,600 levels. Its immediate support is at 17,300 and resistance is at 18,000 levels.
Bank Nifty
After erasing the morning gains, Bank Nifty rebounded nearly 500 points. Led by the SBI and Axis Bank, it ended the day 418 points higher at 36,840.
Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 37,000 and 38,000 call options and 35,000 and 36,000 put options.
Bank Nifty50’s weekly options expiring on January 6 have sizable positions at 37,000 and 37,500 call options and 36,000 and 36,500 put options.
As per the options data, the broad range for Bank Nifty, is between 34,800 and 37,900 levels. Its immediate support is at 35,900 and resistance is at 37,200 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.