Global Markets Update
Global markets cheered the decision by the US Senate to put off the debt ceiling crisis temporarily. SGX Nifty is trading flat, up by 7 points. Major Asian markets are trading in the green, with Nikkei trading about 2% higher and Hang Seng trading more than 1% higher.
European markets also closed in the green yesterday and closed higher in the range of 1% to 2%. Both the Dow Jones and the NASDAQ closed in the green, about 1% higher.
Stock Action*
Long Build-up was seen in stocks like Tata Motors, Ipca Labs, MCX, Trent and Jubilant Foodwork.
Short Build-up was seen in stocks like Alkem Labs, Nestle, HUL and Lal Pathlabs.
F&O Stocks in Ban:
Stocks in Ban: Canara Bank, Indiabull Hsg, Nalco, PNB and SAIL
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers for ₹1,764 crore while DIIs were net buyers for ₹2,528 crore. In the Derivatives market, FIIs bought index futures worth ₹1,194 crore while they bought Index options worth ₹989 crore. For stocks, they bought stock futures worth ₹2,140 crore and bought stock options worth ₹137 crore.
Index Action
Nifty50
Yesterday, Nifty50 saw broad based buying and closed 144 points higher at 17,790 levels.
India VIX came down to 16.1 after yesterday’s upswing. Further decline in VIX will be important for Nifty50’s smooth ride upwards.
October monthly options show a sizable base at 18,000 and 18,500 call options and 17,500 and 17,000 put options. Further additions were seen at 17,800 call and put options.
According to the options data, the support and resistance levels for Nifty50 are 17,500 levels and 18,000.
Bank Nifty
Bank Nifty also ended the day higher by 231 points at 37,753 levels. Bank Nifty will be in focus with the RBI set to announce its credit policy at 10am today.
October monthly options show a sizable base at 38,000 and 39,000 call options and 37,500 and 37,000 put options. Further writing was seen at 38,000 call options and 37,500 put options.
According to options data, the support and resistance levels for Bank Nifty are 37,500 and 38,000.
*In Futures and Options or F&O, Long build-up means increase in Open Interest (OI) along with increase in price and Short build-up means increase in Open Interest (OI) along with decrease in price.
**Source: nseindia.com. Cash market figures are provisional.