Global Markets Update
SGX Nifty slipped 0.7% and is trading in the red, down by 129 points. Major Asian markets are trading in the red; Nikkei is down nearly 1.5% and Hang Seng is trading flat with a negative bias and is down 0.06%.
European markets closed higher in the range of 0.2% to 0.8%. US markets slid sharply, with tech stocks closing deep in the red. Dow Jones fell 1.1%, and NASDAQ shed 3.3%.
Stock Action
Long build-up was seen in Tata Communications, Honeywell, Hindustan Copper, Chambal Fertilisers and GSPL.
Short build-up was seen in Dixon Technologies, LTI, Persistent, Mphasis and Infosys.
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 ₹336 crore while DIIs were net buyers of ₹1,271 crore. In the derivatives market, FIIs bought index futures worth ₹475 crore and sold index options worth ₹498 crore. Further, they sold stock futures worth ₹226 crore and sold stock options worth ₹161 crore.
Index Action
Nifty50
Nifty50 started on a dull note and gained strength in the afternoon session. It posted solid gains for the fourth day in a row. Banks and metals led the surge, and Nifty closed 120 points higher at 17,925
India VIX climbed 6.8% to 17.22.
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 18,100 call options and 17,800 and 17,500 put options. Further additions were seen at 18,100 call options and 17,800 put options.
As per options data, the broad range for Nifty50 is between 16,400 and 18,600 levels. Its immediate support is at 17,400 and resistance is at 18,100 levels.
Bank Nifty
By registering gains of 2.3% and driving the markets higher, Bank Nifty climbed more than 10% from its last month's low of 34,020. With all 12 stocks closing higher, Bank Nifty surged 855 points to close at 37,695.
Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 38,000 and 37,000 call options and 35,000 and 36,000 put options.
Bank Nifty50’s weekly options expiring on January 6 have sizable positions at 38,000 and 39,000 call options and 37,000 and 36,000 put options. Further additions were seen at 37,800 call options and 37,500 put options.
As per the options data, the broad range for Bank Nifty, is between 35,500 and 38,900 levels. Its immediate support is at 36,700 and resistance is at 38,100 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.