Global Markets Update
SGX Nifty is trading in the green, up by 69 points. Major Asian markets are trading mixed; Nikkei is trading down by 0.1% and Hang Seng is trading up by almost 0.9%.
European markets closed flat to negative in the range of -0.8% to -0.03%. US markets closed in the green. Dow Jones closed up by 0.1% and NASDAQ closed up by 0.6%% .
Stock Action
Long build-up was seen in stocks like Persistent, Indiamart, Nippon Life, MCX and IRCTC.
Short build-up was seen in stocks like Whirlpool, HDFC Life, CONCOR, Kotak Mahindra Bank and Vedanta.
F&O stocks in ban
Stocks in ban: Indiabulls Housing Finance
Stocks added: -
Stocks out of ban: -
FII/DII Activity**
FIIs were net sellers of ₹579 crore in the cash market while DIIs were net buyers of ₹1,735 crore. FIIs bought index futures worth ₹594 crore in the derivatives market and sold index options worth ₹7,824 crore. Further, they bought futures worth ₹65 crore and sold stock options worth ₹6 crore.
Index Action
Nifty50
Nifty50 followed up Tuesday’s strong closing and saw strong buying interest yesterday as well. It was a broad-based rally where most sectors contributed to Nifty50 closing near the day’s high. It closed 293 points higher at 17,469.
India VIX slipped further to 17.26.
Nifty50’s 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’s weekly options expiring on December 9 have sizable positions at 17,600 and 17,700 call options and 17,000 and 17,400 put options. Further additions were seen at 17,650 call options and 17,400 put options.
As per options data, the broad range for Nifty50, is between 16,150 and 18,200 levels. Its immediate support is at 16,900 and resistance is at 17,600 levels.
Bank Nifty
Bank Nifty was upbeat after the monetary policy announcement by RBI and closed on a strong footing. It closed 666 points higher at 37,284.
Bank Nifty’s 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’s weekly options expiring on December 9 have sizable positions at 38,000 and 37,500 call options and 36,500 and 37,000 put options. Further additions were seen at 37,600 call options and 37,000 put options.
As per the options data, the broad range for Bank Nifty is between 35,500 and 38,400 levels. Its immediate support is at 36,100 and resistance is at 37,800 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.
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