Asian Markets Update 7 am
Indian equities may start the day flat to negative, as the SGX Nifty indicates. The futures contract on the Singapore Exchange is trading 8 (-0.04%) points lower. Its Asian peers are trading in the green. The Nikkei 225 advanced 0.2%, while Hong Kong's Hang Seng index gained 0.4%.
US market update
US markets ended lower on Friday as recession fears resurfaced and Tech stocks plummeted. Dow Jones declined 0.6%, whereas the NASDAQ fell 1.0%.
Index Action
Nifty50
June Futures @ 18,701 📉▼129 (-0.6%)
OI Contracts: 1,70,636 (-12.0%)
The Nifty50 ended half a per cent lower on Friday, just below its 20 DMA. The index attempted a recovery after a negative but witnessed pressure near the 18,750 level. On the daily charts, the index shows a negative RSI divergence. On Friday, sentiment remained weak across all sectors as most sectoral indices ended lower except Pharma.
The Nifty50 options expiring on 29 June have significant positions at 18,800 and 19,000 calls and 18,700 and 18,800 puts.
According to options data and OI analysis, the Nifty50's range for the 27th July expiry is between 18,000 and 19,100 levels. On the other hand, 18,500 and 18,800 are the immediate support and resistance levels for this week.
Bank Nifty
June Futures @ 43,680 📉▼94 (-0.2%)
OI Contracts: 82,995 (+1.0%)
Bank Nifty fell on Friday but ended at its low point of the day. Despite the fall, the banking index once again took support near its 50 DMA. With 10 out of the 12 stocks ending lower, the banking index fell nearly a quarter per cent.
IndusInd Bank (+2.8%) and IDFC First Bank (+0.1%) were the top gainers among banking stocks. SBI (-1.4%) and Federal Bank (-1.3%) were the top laggards.
The Bank Nifty's options expiring on 29 June have significant positions at the 44,000 and 43,800 calls and 43,500 and 43,000 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th July expiry is between 42,400 and 44,800. On the other hand, 43,000 and 44,100 are this week's immediate support and resistance levels.
FII and DII Data💰
In the cash market, the Foreign Institutional Investors (FIIs) sold shares worth ₹344 crore, while the Domestic Institutional Investors (DIIs) sold shares worth ₹684 crore. In the derivatives market, FIIs sold index futures worth ₹247 crore and bought index options worth ₹10,107 crore. Further, they bought stock futures worth ₹494 crore and bought stock options worth ₹193 crore.
India VIX
The volatility index declined 2.6% to 11.24.
Stock Action📊
The long build-up was seen in Aurobindo Pharma, Astral, Bharti Airtel, Trent and IndusInd Bank.
The short build-up was seen in Hindustan Aeronautics, Mahanagar Gas, Indian Oil, Aarti Industries and Atul Ltd.
Under F&O Ban: Hindustan Aeronautics, Hindustan Copper, L&T Finance, Punjab National Bank and RBL Bank.
*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI)
long 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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