Global Markets Update
SGX Nifty is trading 148 points down, in line with global cues. Major Asian markets are trading mixed with Nikkei trading about 3% lower and Hang Seng trading about 0.6% lower.
European markets closed near day’s lows in the red from 0.2% to 0.8. Dow Jones gave up opening gains and closed 323 points down, or almost 1% lower and the NASDAQ closed 311 points or about 2% lower.
Index Action
Nifty50: On Monday, Nifty50 closed firmly in the green and was up by 159 points at 17,691. Market breadth was comfortably in favor of advances as most major indices closed in the green.
India VIX cooled off further but remained high at 16.7 levels. The declining trend of India VIX hints at consolidation in the coming sessions.
October monthly call options continue to have a significant base at 18,000 and 18,500 strikes, while put options have a significant base at 17,000 and 17,500 strikes.
October 7 weekly expiry call options further added to their significant bases at 17,700 and 18,00 levels. Weekly put options for the same expiry added further positions at 17,600 and 17,500 levels.
Weekly options suggest immediate resistance for Nifty50 at 17,800 levels and support at 17,500 levels.
Bank Nifty
On Monday, Bank Nifty closed higher by 353 points at 37,579 levels.
October monthly options data shows significant bases for call options at 39,000 and 38,000 levels. Put options have significant bases at 36,000 and 37,500 strikes.
Bank Nifty50 October 7 weekly expiry call options added further positions at 37,500 and 38,000 strikes. Weekly put options for the same expiry now have significant bases at 37,500 and 37,000.
Weekly options suggest immediate resistance for Bank Nifty at 38,000 levels and support at 37,500 levels.
Stock Action*
Long Build-up was seen in stocks like JK Cement, Persistent, Astral, IRCTC and Nalco.
Short Build-up was seen in stocks like Cummins, Indus Tower, TVS Motor, UPL and Britannia.
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 ₹860 crore while DIIs were net buyers for ₹228 crore. In the Derivatives market, FIIs sold index futures worth ₹737 crore while they bought Index options worth ₹5,968 crore. For stocks, they sold stock futures worth ₹11 crore and sold stock options worth ₹54 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 increase in Open Interest (OI) along with decrease in price.
**Source: nseindia.com. Cash market figures are provisional.