Global Markets Update
SGX Nifty is trading in the green, up by 47 points. Major Asian markets are also trading higher. Japan’s Nikkei gained 0.7% and Hong Kong’s Hang Seng index climbed 1.5%.
The European markets closed flat to positive in the range of -0.08% to +0.2%. US markets closed higher. The Dow Jones gained more than 1%, while the NASDAQ added 1.2%.
Stock Action
Long build-up was seen in TVS Motor, Maruti Suzuki, GNFC, Tata Steel and PVR.
Short build-up was seen in PFC, Intellect Design, Tata Power, Siemens and BHEL.
F&O stocks in ban
Stocks in ban: BHEL
Stocks added: BHEL
Stocks out of ban: -
FII/DII Activity**
In the cash market, FIIs were net sellers of ₹1,967 crore while DIIs were net buyers of ₹1,115 crore. In the derivatives market, FIIs bought index futures worth ₹426 crore and bought index options worth ₹2,197 crore. Further, they bought stock futures worth ₹966 crore and bought stock options worth ₹99 crore.
Index Action
Nifty50
The Nifty50 recovered smartly and snapped its three-day losing streak. Metal and Pharma stocks aided by index heavyweight Reliance Industries pushed the index in the green. The Nifty50 gained 53 points to close at 17,266.
The India VIX slipped 3.6% to 19.68.
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 17,300 call options and 17,000 and 17,200 put options. Further, additions were seen at 17,300 call options and 17,100 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 bounced sharply to regain the 38,000 mark and closed with modest gains. The overall breadth of the index was negative, but gains in Axis Bank and ICICI Bank pushed the index higher. The Bank Nifty rose 33 points to 38,028.
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 38,000 put options.
The Bank Nifty’s weekly options expiring on February 10 have sizable positions at 38,000 and 39,000 call options and 38,000 and 37,500 put options. Further, additions were seen at both 38,000 call and 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.
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