Global Markets Update
The U.S has announced a ban on Russian oil imports fueling further volatility in crude prices and global markets. The SGX Nifty is trading in the green, up by 15 points. Major Asian markets are trading higher. Japan’s Nikkei climbed 0.6%(7 am), and Hong Kong’s Hang Seng index gained 0.2%(7 am).
The European markets closed flat to negative in the range of -0.3% to +0.07%. Amid volatility, the US markets swung wildly before ending lower. The Dow Jones dropped 0.5%, while the NASDAQ fell 0.2%.
Stock Action
Long build-up was seen in GSPL, Bajaj Auto, Hindustan Copper, Atul Ltd and NTPC.
Short build-up was seen in JK Cement, MCX, Apollo Tyres, Whirlpool and HPCL.
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 ₹8,142 crore, while DIIs were net buyers of ₹6,489 crore. In the derivatives market, FIIs sold index futures worth ₹1,008 crore and bought index options worth ₹5,515 crore. Further, they sold stock futures worth ₹986 crore and bought stock options worth ₹1.5 crore.
Index Action
Nifty50
The Nifty50 ended the volatile day by reclaiming the 16,000 mark. Gains in Realty, IT and Pharma stocks led the rally, while Metals stocks came under selling pressure. The Nifty50 climbed 150 points to 16,013.
The India VIX slipped 2.5% to 28.59.
The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 17,000 and 16,500 call options and 16,000 and 15,500 put options.
The Nifty50’s weekly options expiring on March 10 have sizable positions at 16,200 and 16,300 call options and 16,000 and 15,800 put options.
As per options data, the broad range for the Nifty50 is between 15,100 and 17,100 levels. Its immediate support is at 15,500 and resistance is at 16,400 levels.
Bank Nifty
The Bank Nifty, too, ended the day higher and reclaimed the 33,000 mark. After the last few days of declines, both PSU and private banks rebounded and pulled the index higher by 286 points at 33,158.
The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 34,000 and 35,000 call options and 33,000 and 32,000 put options.
The Bank Nifty’s weekly options expiring on March 10 have sizable positions at 34,000 and 33,500 call options and 33,000 and 32,000 put options.
As per options data, the broad range for the Bank Nifty is between 30,500 and 35,800 levels. Its immediate support is at 32,100 and resistance is at 34,400 levels.
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