Asian Markets Update 7 am
Indian equities may start the day flat to positive, as the GIFT Nifty indicates. The futures contract on the NSE International Exchange (NSE IX) is trading 12 (+0.06%) points higher. Its Asian peers are trading lower. The Nikkei 225 declined 0.3%, while Hong Kong's Hang Seng index fell 0.4%.
US market update
US markets were shut on account of a public holiday.
Index Action
Nifty50
July Futures @ 19,459 📈▲54 (+0.2%)
OI Contracts: 2,09,405 (+1.6%)
The Nifty50 rose for the sixth consecutive session and closed at a new record high level near 19,400. Gains in PSU Banks and IT pushed the index higher while pressure in Oil & Gas and Auto stock kept the upside in check. The index has multiple gaps near the 19,000 and 19,200 levels on the hourly chart and formed a negative RSI divergence yesterday.
The Nifty50 options expiring on 6 July have significant positions at 19,400 and 19,500 calls and 19,300 and 19,000 puts.
According to options data and OI analysis, the Nifty50 range for the 27th July expiry is between 19,000 and 19,700. On the other hand, 19,250 and 19,500 are this week's immediate support and resistance levels.
Bank Nifty
July Futures @ 45,365 📈▲90 (+0.2%)
OI Contracts: 1,85,214 (+4.4%)
Bank Nifty slipped lower from the 45,600 level but ended in the green. The breadth of the banking index was positive, with 8 out of the 12 stocks ending higher. The banking index, too, has registered negative RSI divergence on the hourly charts and has a gap near the 44,800 level.
Punjab National Bank (+5.9%) and Federal Bank (+3.4%) were the top gainers among banking stocks. IDFC First Bank (-4.0%) and Bandhan Bank (-1.7%) were the biggest laggards.
The Bank Nifty's options expiring on 6 July have significant positions at the 45,600 and 46,000 calls and 45,000 and 44,500 puts.
According to options data and OI analysis, Bank Nifty's range for the 27th July expiry is between 44,000 and 46,600. On the other hand, 44,900 and 45,700 are this week's immediate support and resistance levels.
FII and DII Data💰
In the cash market, Foreign Institutional Investors (FIIs) bought shares worth ₹2,134 crore, while Domestic Institutional Investors (DIIs) sold shares worth ₹785 crore. In the derivatives market, FIIs bought index futures worth ₹1,172 crore and bought index options worth ₹9 crore. Further, they sold stock futures worth ₹1,254 crore and sold stock options worth ₹373 crore.
India VIX
The volatility index gained 1.3% and settled at 11.70.
Stock Action📊
The long build-up was seen in Punjab National Bank, India Cements, Titan, Bajaj Finance, and Can Fin Homes.
The short build-up was seen in Eicher Motors, Aarti Industries, Info Edge, Laurus Labs and Voltas.
Under F&O Ban: Indiabulls Housing Finance.
*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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