Global Markets Update
SGX Nifty is trading in the green, up by 117 points. Major Asian markets are also trading in the green; Nikkei is trading up by almost 1% and Hang Seng is trading up by almost 0.2%.
European markets closed higher in the range of 1.5% to 3%, boosted by a rebound in the technology stocks. US markets rallied strongly yesterday, with Dow Jones closing up by almost 1.4% and NASDAQ closing up by 3%.
Stock Action
Long build-up was seen in Torrent Power, Dalmia Bharat, Cummins India, Delta Corp and NALCO.
Short build-up was seen in Persistent, Vodafone Idea, Metropolis, Dr.Lal Pathlabs and Strides Pharma.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,584 crore while DIIs were net buyers of ₹2,605 crore. FIIs bought index futures worth ₹2,299 crore in the derivatives market and bought index options worth ₹2,510 crore. Further, they bought futures worth ₹1,566 crore and bought stock options worth ₹416 crore.
Index Action
Nifty50
After a few sessions of decline, the Nifty50 bounced back strongly yesterday. Reports suggesting that the Omicron variant might not be as severe as initially perceived brought cheer to the markets globally, while it is still early to conclude this theory. It closed 264 points higher at 17,176.
India VIX slipped to 18.46.
Nifty50 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 weekly options expiring on December 9 have sizable positions at 17,500 and 17,200 call options and 17,000 and 16,900 put options. Further unwinding was seen at 17,300 call options and additions were seen at 17,200 put options.
As per options data, a broad range for the 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 too registered strong buying interest yesterday and outperformed the Nifty50 by nearly 0.9%. Bank Nifty closed 882 points higher at 36,618. All eyes will be on the monetary policy announcement today.
Bank Nifty monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 36,000 and 36,500 put options.
Bank Nifty weekly options expiring on December 9 have sizable positions at 37,000 and 38,000 call options and 36,000 and 36,500 put options. Further additions were seen at 37,100 call options and 36,500 put options.
As per options data, a broad range for Bank Nifty is between 34,700 and 37,900 levels. It has immediate support at 35,800 and resistance at 37,200 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.