Markets hit another fresh record high on Tuesday after being under pressure for the most of the session, with the Nifty hitting 22,215 in the last hour of trade. The long awaited rally in the banking stocks was witnessed yesterday with the top three gainers on the Nifty being the top private banks including HDFC Bank.
The Foreign Portfolio Investors (FPIs) Long-Short ratio rose from 38.24% on 16th February to 39.25% on 19th February as the FPI’s continued to build long positions in Index futures for the second consecutive day.
F&O cues to watch today: The Foreign Institutional Investors net sold shares worth Rs 17,767 crore in Index Options on Tuesday, while they sold shares worth Rs 1,704 crore in stock futures on Tuesday.
Stocks in F&O ban today:
New in F&O ban
BALRAMCHIN, GMRINFRA, GNFC, RBLBANK
Out of F&O ban
ABFRL
ASHOKLEY
Already in F&O ban
BANDHANBNK, CANBK, HINDCOPPER, INDIACEM, INDUS TOWER, SAIL, ZEEL, NATIONALUM, BIOCON
“The put writers (Bulls) further strengthened their position at the 22,000 Strike today. The 22,100 Strike saw a good battle between the call (Bears) & put writers, which kept the Nifty choppy on Intraday basis in the first half. A follow up buying from the current level can accelerate the momentum, which can take the Index even higher. The option activity at 22,200 Strike will provide cues about Nifty’s Intraday direction,” said Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities.
