Index Action
Nifty50
Nifty50 had a range-bound session today and closed flat; just 15 points lower at 17,546.
17,500 and 17,300 put options have significant bases and have seen further open interest additions suggesting a support for Nifty50 at these levels.
17,700 and 18,000 call options have also added further open interest and can act as resistance levels on the upside.
Bank Nifty
Bank Nifty continued its slide and closed 291 points lower at 36,944.
Bank Nifty slipped marginally below the 37,000 and the next big put option base is at 36,500 strike followed by the 36,000 strike. These are likely to act as support levels for the Bank Nifty.
Call options data for Bank Nifty shows a big base at 37,000 strike followed by 37,500. These can act as immediate resistances for Bank Nifty.
Tomorrow is the weekly expiry for Bank Nifty and Nifty options.
Global Markets Update
Major European markets have held onto their strong opening and are still trading about 1% higher. Dow Futures has slipped a little during the day but is still trading 200 points in the green.
Stock Action:
Todays’ Top Gainers were Zee TV, Godrej Properties, DLF, Balkrishna Ind., Aditya Birla Fashion and Strides Pharma. At the back of its deal with Sony, Zee TV rose by more than 30% today. Real Estate stocks were among the gainers today with Godrej Properties and DLF leading the way.
Today’s Top Losers were Idea, Indigo, Metropolis, Godrej Consumer and IGL.
Major News
RBI Governor Shaktikanta Das today said that there are signs that the world is emerging from the impact of the COVID-19 pandemic. He further added that the Indian financial system transformed quickly to support the economy but the recovery remains uneven among different sectors of the economy.
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