Domestic equity benchmarks scaled to new all-time highs on Monday and managed to close with gains yet again. S&P BSE Sensex now sits at 44,077 points while the Nifty 50 index is at 12,926 levels. Technically, the equity markets are still trading with a positive bias and chartists expect the 50-stock Nifty to achieve 13,000 soon. “The short term trend of Nifty is range bound with positive bias. A sustainable move above 13000 levels is expected to bring sharp upside momentum back into action, which could later pull Nifty towards 13500-13600 levels in the near term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Resistance and Support: At the current levels, Nifty has support at 12800 while upside resistance comes at 13000, according to Sumeet Bagadia Executive Director Choice Broking.
Call and Put option data: For the November series, maximum Call Open Interest (OI) is placed at 13,500 strike with 41.32 lakh contracts, followed by 36.69 lakh contracts at 13,000 strike. On the Put side, maximum OI is at 12,800 strike with 40.19 lakh contracts. This was followed by 34.06 lakh contracts at 12,500 strike.
Global markets: Stock markets in the United States closed with gains on Monday. Dow Jones was up 1.12%. Asian peers were trading mixed on Tuesday morning. Shanghai Composite and Hang Seng were down in the red while Nikkei 225 and TOPIX were seen surging over 2% higher. SGX Nifty was trading flat during the early hours of trade.
FII and DII data: Foreign Institutional Investors (FII) continued to buy domestic securities worth Rs 4,738 crore on Monday while Domestic Institutional Investors (DII) were net sellers of Rs 2,944 crore worth of securities. FIIs, however, sold index options, Stock futures and Stock options. With the recent flood of funds, November has now seen the most FII inflows ever recorded in India.
Bulk and Block deals: On Monday AU Small Finance Bank sold 35 lakh equity shares of Aavas Financiers Ltd at Rs 1,515 per share. AU Small Finance Bank held a 4.57% stake in Aavas Financiers at the end of the last quarter. SBI Life Insurance Company and Nomura India Investment were seen buying some shares of Aavas. SBI mutual Fund sold over 7.4 lakh shares of Matrimony.com. 4.25 lakh PVR stocks were bought by GEMASIA.