Global Markets Update
SGX Nifty is trading in the green, up by 29 points. Major Asian markets are trading in the red. Nikkei is trading lower by 0.8% and Hang Seng is trading lower by 1%.
European markets slipped on Friday and closed in the red, in the range of -0.6% to -0.1%. US markets also closed in the red. Dow Jones closed lower by almost 0.2% and NASDAQ closed lower by almost 2%.
Stock Action
Long build-up was seen in stocks like Chambal Fertilisers, GSPL, GMR Infra, IEX and Dixon Technologies.
Short build-up was seen in stocks like Indiamart, Crompton, Pidilite, Reliance Industries and Shree Cement.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance and Vodafone Idea
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹3,356 crore while DIIs were net buyers of ₹1,648 crore. In the derivatives market, FIIs sold index futures worth ₹2,363 crore and bought index options worth ₹517 crore. Further, they bought futures worth ₹1,148 crore and sold stock options worth ₹79 crore.
Index Action
Nifty50
Rising cases of the Omicron variant across the globe and in the country coupled with weak global cues contributed to a sell-off on the Nifty50 on Friday. It closed 204 points lower at 17,196.
India VIX climbed to 18.45.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options.
Nifty50’s weekly options expiring on December 9 have sizable positions at 17,500 and 17,400 call options and 17,000 and 17,200 put options. Further additions were seen at 17,400 call options and 17,200 put options.
As per options data, the broad range for Nifty50 is between 16,150 and 18,200 levels. It has immediate support at 16,800 and resistance at 17,600 levels.
Bank Nifty
Bank Nifty saw intensified selling pressure in the second half on Friday and managed to hold the 36,000 levels. It closed 311 points lower at 36,197.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 36,000 and 35,000 put options.
Bank Nifty’s weekly options expiring on December 9 have sizable positions at 37,000 and 36,500 call options and 35,500 and 36,000 put options. Further additions were seen at 36,300 call options and 36,000 put options.
As per options data, the broad range for Bank Nifty is between 34,700 and 37,900 levels. It has immediate support at 35,600 and resistance at 36,900 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.