Global Markets Update
The SGX Nifty is trading in the green, up by 49 points. Major Asian markets are trading mixed. Japan’s Nikkei gained 0.5% (7 am) and Hong Kong’s Hang Seng index dipped 0.4%(7 am).
The European markets closed higher in the range of 0.7% to 0.8%. US markets had a mixed closing. The Dow Jones closed flat with a positive bias, while NASDAQ closed 0.5% lower.
Stock Action
Long build-up was seen in GNFC, Hindustan Copper, Bank of Baroda, Vedanta and Godrej Properties.
Short build-up was seen in Lupin, Torrent Power, SBI Life, Astral and Bosch.
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 ₹1,157 crore while DIIs were net sellers of ₹1,376 crore. In the derivatives market, FIIs sold index futures worth ₹1,067 crore and bought index options worth ₹1,378 crore. Further, they bought stock futures worth ₹165 crore and sold stock options worth ₹355 crore.
Index Action
Nifty50
The Nifty50 began the week on a sharply negative note and was dragged below the 17,200 mark. It came under severe selling pressure from both FII and DII participants and fell 302 points to close at 17,213. The overall breadth of the index remained negative as only 8 out of the 50 stocks closed in green.
The India VIX jumped 8.1% to 20.43.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s weekly options expiring on February 10 have sizable positions at 17,500 and 17,600 call options and 17,000 and 16,800 put options. Further additions were seen at 17,400 call options and 17,000 put options.
As per the options data, the broad range for the Nifty50 is between 16,400 and 17,900 levels. Its immediate support is at 16,800 and resistance is at 17,700 levels.
Bank Nifty
The Bank Nifty extended its losses for the third consecutive session and fell 2%. However, the buying interest in PSU Bank(+0.9%) moderated the fall, and the Bank Nifty closed at 37,995. Meanwhile, the investors will keenly await the outcome of the RBI monetary policy meeting scheduled on Thursday.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 39,500 call options and 37,000 and 37,500 put options.
The Bank Nifty’s weekly options expiring on February 10 have sizable positions at 39,000 and 39,500 call options and 38,000 and 37,000 put options. Further additions were seen at 38,500 call options and 37,700 put options.
As per the options data, the broad range for the Bank Nifty is between 36,500 and 39,300 levels. Its immediate support is at 37,500 and resistance is at 38,900 levels.