Index Action
Nifty50
Nifty50 opened higher at 17,379 but failed to sustain at those levels. At 12 pm today, it was trading 19 points higher at 17,241.
For December 16 options contracts, Nifty50 has sizable positions at 17,300 and 17,400 call options and 17,200 and 17,000 put options. Further, additions were seen in 17,300 call options and 17,200 put options.
Nifty50 has immediate support at 17,000 and resistance is at 17,600 levels.
Bank Nifty
Bank Nifty opened above 37,000 but with immediate selling pressure it fell 450 points from the day’s high. At 12 pm today, it was trading 178 points lower at 36,611.
For December 16 options contracts, Bank Nifty has sizable positions at 37,000 and 37,100 call options and 36,500 and 36,000 put options. Further additions were seen at 37,000 call and 36,500 put options.
Bank Nifty has immediate support at 36,200 and resistance is at 37,600 levels.
Stock Action
Today’s top gainers are Syngene International, Infosys, ICICI Prudential, Bajaj Finance and Piramal Enterprises.
Today’s top losers are TVS Motor, Indiabulls Housing Finance, Torrent Power, Biocon and Polycab.
Sector Update
Amongst the sectoral indices, Nifty IT has emerged as the leading sector with buying interest. Stocks like Infosys, L&T Infotech, Wipro and Mindtree are trading in the green.
Media and Pharma sectors are seeing selling pressure today. Stocks like Sun TV, PVR, Biocon, Alembic Pharma and Granules are trading in the red.
Global Markets Update
Major European markets are likely to open in the green as their futures are trading higher in the range of 0.5% to 1.5%. US Futures are trading in the green, up by nearly 0.3%.
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