Index Action
Nifty50
Nifty50 closed at life-time high of 17,822 which is 276 points higher than yesterday’s closing. Today’s rally was powered by positive global cues and sharp recovery in the financial sector.
For Monthly options, call options have the highest base at 18,000 followed by 17,800 call options. Put options now have the highest at 17,500 and 17,600 strikes.
The immediate range for Nifty50, as indicated by options data, is 17,500 to 18,000.
Bank Nifty
Bank Nifty shrugged off it’s weakness of the last few days and had a stellar run today. It closed 827 points or 2.2% higher at 37,771. This closing is within striking distance of Bank Nifty’s all-time high of 38,112.
Monthly options data shows the highest call option base at 38,000 followed by 38,500. The highest put option base is at 37,000 followed by 37,500.
The range for Bank Nifty, as indicated by options data, is 37,000 to 38,500.
Global Markets Update
Major European markets are trading 0.5% to 1% higher. Dow Futures has gained further momentum and is trading 250 points higher.
Stock Action
Todays’ Top Gainers were Godrej Properties, DLF, United Spirits, Indian Hotel and Piramal Enterprises.
Today’s Top Losers were Zee TV, ICICI Lombard, Balkrishna Ind.,Strides Pharma and NMDC.
Major News
The real estate sector has been the outperformer with the realty index rising more than 20% in the last 2days. It made a new 11-year high. Factors like reduction in stamp duty, lower interest rates and rise in buying interest ahead of the festive season are the major contributors to this rise.
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