Global Markets Update
The SGX Nifty is trading in the green, up by 78 points. Major Asian markets are trading higher. In Japan, the Nikkei rose 0.7% and Hong Kong’s Hang Seng index climbed 1.1% at 7 am India time.
The US markets closed the volatile session higher, led by gains in energy and tech stocks. The Dow Jones rose 0.8%, while the Nasdaq climbed 0.9%. European markets ended lower in the range of 0.1% to 0.6%.
Stock Action
Long build-up was seen in HAL, Bharat Electronics, ONGC, Tata Power and Coal India.
Short build-up was seen in Dalmia Bharat, Gujarat Gas, NMDC, UPL and Ramco Cements.
F&O stocks in ban
Stocks in ban: Delta Corp
Stocks added: Delta Corp
Stocks out of ban:
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹2,293 crore, while DIIs were net buyers of ₹1,311 crore. In the derivatives market, FIIs sold index futures worth ₹2,407 crore and sold index options worth ₹693 crore. Further, they bought stock futures worth ₹1,565 crore and sold stock options worth ₹8 crore.
Index Action
Nifty50
The Nifty50 ended lower for the third consecutive session as investors await the outcome of RBI’s Monetary Policy Committee, which will be announced today. Among stocks, ONGC, Coal India and NTPC were the top gainers, while Titan, UPL and Dr. Reddy’s were the biggest laggards. The Nifty50 ended the day at 16,416, down by 153 points.
The India VIX climbed 1.1% to 20.42.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 9 June have sizable positions at 16,800 and 16,600 call options and 16,400 and 16,300 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 17,400 levels. Its immediate support is at 16,200 and resistance is at 16,800 levels.
Bank Nifty
The Bank Nifty closed the day with cuts of nearly 1% and slipped below the 35,000-mark. With nine out of 12 bank stocks closing lower, the breadth of the index was skewed in favour of bears. The Bank Nifty settled 314 points lower at 34,996. .
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 37,000 and 36,000 call options and 35,000 and 34,000 put options.
The Bank Nifty’s options contracts expiring on 9 June have sizable positions at 36,000 and 36,500 call options and 35,000 and 34,500 put options.
As per the options data, the broad range for the Bank Nifty is between 34,000 and 36,300 levels. Its immediate support is at 34,600 and resistance is at 35,600 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.