Asian Markets Update 7 am
Indian equities may start the day flat to negative, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 9 (-0.05%) points higher. Its Asian peers are trading lower. The Nikkei 225 fell 0.3%, while Hang Seng slipped 1.4%.
US Market Update
US markets ended flat to positive despite fears of Fed interest rate decision persisting among investors. Dow Jones advanced 0.2% while NASDAQ rose 0.09%.
Index Action
September Futures @ 19,874 📈▲105 (+0.5%)
OI Contracts: 2,00,703 (-0.8%)
The Nifty continued its momentum and settled higher for the sixth straight session. The index formed a bullish reversal trend on the daily charts and regained the 19,800 mark. The index is now less than 1% away from the 20,000 mark.
The Nifty50 options expiring on 14 September have significant positions at 20,000 and 19,900 calls and 19,600 and 19,700 puts.
According to options data and OI analysis, the Nifty50's range for the 28th September expiry is between 19,300 and 20,400 levels. On the other hand, 19,600 and 20,000 are this week's immediate support and resistance levels.
September Futures @ 45,326 📈▲280 (+0.6%)
OI Contracts: 1,32,268 (-1.9%)
Bank Nifty reclaimed the 45,000 level for the first time since early August. The banking index took support at its 50 DMA and ended higher by over half a per cent. The index's breadth was strong, with 11 out of the 12 stocks ending in green.
Federal Bank (+1.7%) and Bandhan Bank (+2.0%) were the top gainers among banking index stocks. IDFC First Bank (-0.4%) was the laggard.
The Bank Nifty's options expiring on 13 September have significant positions at the 45,500 and 45,200 calls and 44,500 and 45,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 28th September expiry is between 44,200 and 46,000. On the other hand, 44,600 and 45,500 are the immediate support and resistance levels for this week.
NIFTY Financial Services
September Futures @ 20,218 📈▲174 (+0.8%)
OI Contracts: 1,908 (+13.2%)
The FINNIFTY ended the day higher, rebounding from its 50DMA. The FINNIFTY's options expiring on 12 September have significant positions at the 20,400 and 20,200 calls and 19,800 and 20,000 puts.
According to options data and OI analysis of contracts expiring on 12th September, FINNIFTY's immediate support and resistance levels are 20,000 and 20,400.
FII and DII Data
In the cash market, the Foreign Institutional Investors (FIIs) sold shares worth ₹224 crore, while the Domestic Institutional Investors (DIIs) bought shares worth ₹1,150 crore. In the derivatives market, FIIs bought index futures worth ₹406 crore and sold index options worth ₹12,674 crore. Further, they bought stock futures worth ₹483 crore and sold options worth ₹67 crore.
India VIX
The volatility index declined 0.8% and settled at 10.78.
Stock Action
Long build-up was seen in IEX, CONCOR, PFC, IRCTC and REC.
Short build-up was seen in Dr. Lal Pathlabs, Chambal Fertilisers, Glenmark Pharma, RBL Bank and ITC.
Under F&O Ban: Balrampur Chini, Chambal Fertilisers, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram, Punjab National Bank and SAIL.
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