Markets hit a fresh record high on Monday with the Nifty surpassing its previous high of 22,130. As the earnings season is now over, the markets will take cues from global developments like the FOMC going forward. Back home, the sentiment is likely to remain upbeat ahead of the upcoming elections, believe experts.
The Foreign Portfolio Investors (FPIs) Long-Short ratio rose from 36.47% on 15th February to 38.24% on 16th February as the FPIs were seen steadily building long positions in Index futures.
F&O cues to watch today: The Foreign Institutional Investors net sold shares worth Rs 25,424 crore in Index Options on Monday, while they sold shares worth Rs 2,101 crore in stock futures on Monday.
Stocks in F&O ban today:
New in F&O ban
BIOCON
Out of F&O ban
BALRAMCHINI
DELTACORP
Already in F&O ban
ABFRL, ASHOKLEY, BANDHANBNK,CANBK, HINDCOPPER, INDIACEM, INDUS TOWER, SAIL, ZEEL, NATIONALUM
“Nifty closed near the previous all-time high level of 22,125. Nifty took resistance around these levels twice previously. Call writers (Bears) exit along with put writers’ (Bulls) entry was seen at the 22,000 Strike in Nifty. This is considered as a sign of support getting stronger. The level of 22,000 which acted as a resistance earlier is likely to act as a support now. The option activity at 22,200 Strike will provide cues about Nifty’s Intraday direction,” said Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities.
