Global Markets Update
As the U.S and its allies raised the prospect of banning the import of Russian oil, the crude prices have surged beyond the $120 mark. SGX Nifty is trading in the red, down by 373 points. Major Asian markets are also trading lower. Japan’s Nikkei dropped 3.3%(7 am), and Hong Kong’s Hang Seng index lost 3.4%(7 am).
European markets closed lower in the range of -4.9% to -3.8%. The US markets ended lower. The Dow Jones dropped 0.5%, while NASDAQ fell 1.6%.
Stock Action
Long build-up was seen in GNFC, Intellect Design, Ramco Cements, BPCL and Gujarat Gas.
Short build-up was seen in IRCTC, United Breweries, ICICI Lombard, Honeywell Automation and HUL.
F&O stocks in ban
Stocks in ban: -
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹7,631 crore, while DIIs were net buyers of ₹4,738 crore. In the derivatives market, FIIs sold index futures worth ₹550 crore and sold index options worth ₹1,343 crore. Further, they sold stock futures worth ₹113 crore and sold stock options worth ₹89 crore.
Index Action
Nifty50
With the conflict between Russia and Ukraine raging on, the markets globally continue to remain on edge. On Friday, the Nifty50 attempted a recovery but ended deep in the red. Losses in FMCG, Auto and Metal stocks dragged the index 252 points lower to 16,245.
The India VIX slipped 0.7% to 27.96.
The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 18,000 and 17,000 call options and 16,000 and 15,500 put options.
The Nifty50’s weekly options expiring on March 10 have sizable positions at 16,500 and 16,300 call options and 16,000 and 16,300 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 17,600 levels. Its immediate support is at 15,900, and resistance is at 16,800 levels.
Bank Nifty
The Bank Nifty fell 5.5% last week, and on Friday, it breached and ended below the 34,500 mark. With all the 12 stocks ending lower, the Bank Nifty dropped 536 points lower to 34,407.
The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 36,000 and 37,000 call options and 34,000 and 33,000 put options.
The Bank Nifty’s weekly options expiring on March 10 have sizable positions at 36,000 and 35,000 call options and 34,000 and 33,000 put options.
As per options data, the broad range for the Bank Nifty is between 33,100 and 37,100 levels. Its immediate support is at 33,600 and resistance is at 35,100 levels.