Asian Markets Update 7 am
Indian equities may start the day flat to positive, as indicated by the SGX Nifty. The futures contract on the Singapore Exchange is trading 22 (+0.1%) points lower. Its Asian peers are trading mixed. The Nikkei 225 declined 0.9%, while Hong Kong's Hang Seng index gained 0.9%.
US market update
US markets gave up early gains and ended lower on Monday as Tech stocks slipped. Dow Jones declined 0.04%, whereas the NASDAQ fell 1.1%.
Index Action
Nifty50
June Futures @ 18,718 📈▲12 (+0.06%)
OI Contracts: 1,45,332 (-14.8%)
As monsoons arrived in some parts of the country, the Nifty50 ended with modest gains. The surge in Auto and Pharma stocks helped the index recover in the last hour as it ended a shade below 18,700. The benchmark index also moved above its 20 DMA but formed a doji candle on the daily charts.
The Nifty50 options expiring on 29 June have significant positions at 18,800 and 19,000 calls and 18,700 and 18,600 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 18,850 are the immediate support and resistance levels for this week.
Bank Nifty
June Futures @ 43,695 📈▲24 (+0.06%)
OI Contracts: 68,223 (-17.8%)
Bank Nifty ended a range-bound session marginally higher. The banking index took support near its 50 DMA but could not surpass Friday's high level. Recovery in private banks helped a late comeback in the index, whereas PSU banks continued to face pressure.
IndusInd Bank (+0.4%) and AU Small Finance Bank (+1.1%) were the top gainers among banking stocks. Bank of Baroda (-0.7%) and Federal Bank (-0.7%) 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, 43,200 and 44,000 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 ₹409 crore, while the Domestic Institutional Investors (DIIs) bought shares worth ₹250 crore. In the derivatives market, FIIs bought index futures worth ₹262 crore and sold index options worth ₹11,719 crore. Further, they bought stock futures worth ₹1,947 crore and bought stock options worth ₹595 crore.
India VIX
The volatility index advanced 1.4% to 11.40.
Stock Action📊
The long build-up was seen in Laurus Labs, Ipca Labs, Aurobindo Pharma, Trent and Titan.
The short build-up was seen in SBI Cards, Astral, Shree Cement, Canara Bank and TCS.
*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.