Global Markets Update
SGX Nifty is trading in the red, down by 123 points. Major Asian markets are also trading lower. Japan’s Nikkei dropped 1.5% (7 am) and Hong Kong’s Hang Seng declined 1.8% (7am).
European markets ended mixed in the range of -1.2% to 0.7%. U.S. markets closed lower as Federal Reserve Governor Lael Brainard said that the central bank needs to act quickly and aggressively to drive down inflation. The Dow Jones fell 0.8%, and NASDAQ dropped 2.2%.
Stock Action
Long build-up was seen in ABB, Bsoft, Astral, Trent and Voltas.
Short build-up was seen in SBI Cards, Federal Bank, LTTS, Bajaj Finserv and IDFC.
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 ₹374 crore, while DIIs were net buyers of ₹105 crore. In the derivatives market, FIIs sold index futures worth ₹357 crore and bought index options worth ₹4,578 crore. Further, they sold stock futures worth ₹1,766 crore and sold stock options worth ₹512 crore.
Index Action
Nifty50
The Nifty50 snapped its winning momentum and closed below the 18,000-mark. As HDFC twins retreated 2-3%, fresh inflation worries and rising crude prices resulted in profit-booking at higher levels. The Nifty50 closed the day 96 points lower to 17,957.
The India VIX climbed 3.2% to 18.49.
The Nifty50’s monthly options expiring on April 28 are scattered and have sizable positions at 18,000 and 19,000 call options and 17,500 and 17,000 put options.
The Nifty50’s weekly options expiring on April 7 have sizable positions at 18,000 and 18,100 call options and 18,000 and 17,500 put options.
As per options data, the broad range for the Nifty50 is between 17,100 and 18,800 levels. Its immediate support is at 17,600 and resistance is at 18,300 levels.
Bank Nifty
After a positive start, the Bank Nifty fell and took support at 37,900 levels. Profit booking in leading private banks like HDFC Bank and Kotak Mahindra Bank dragged the Bank Nifty 567 points lower to 38,067.
The Bank Nifty’s monthly options expiring on April 28 are scattered and have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,000 put options.
The Bank Nifty’s monthly options expiring on April 7 have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,000 put options.
As per the options data, the broad range for Bank Nifty, is between 36,600 and 39,600 levels. Its immediate support is at 37,600 and resistance is at 38,800 levels.