Index Action
Nifty50
Nifty50 opened higher and held on to its opening gains amid a volatile session. Led by Energy and Banking stocks, it skyrocketed to day’s high as buying came in at lower levels. At 12 pm today, it was trading 84 points higher at 17,710.
For January 6 options contracts, Nifty50 has sizable positions at 18,000 and 17,700 call options and 17,500 and 17,300 put options. Further, additions were seen in both 17,700 call options and 17,500 put options.
Nifty50 has immediate support at 17,300 and resistance is at 17,900 levels.
Bank Nifty
After yesterday's stellar move, Bank Nifty has comfortably scaled 36,500 as it sees follow through buying. At 12 pm today, it was trading 326 points higher at 36,748.
For January 6 options contracts, Bank Nifty has sizable positions at 37,000 and 36,800 call options and 36,000 and 36,500 put options. Further additions were seen at 36,000 call options and 35,500 put options.
Bank Nifty has immediate support at 35,900 and resistance is at 37,200 levels.
Stock Action
Today’s top gainers are Balrampur Chini, NTPC, Hindustan Copper, Astral and Rain Industries.
Today’s top losers are Vedanta, Marico, Granules, IDFC and Aarti Industries.
Sector Update
Among the sectoral indices, PSU banks and Energy have emerged as the leading sectors with buying interest. Stocks like SBI, Canara Bank, PNB, NTPC and ONGC are trading in the green.
Metal and IT sectors came under selling pressure. Stocks like Vedanta, Coal India, NALCO, Mindtree and Mphasis 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 0.1% to +1.1%. US markets are also expected to open higher as the US Futures are trading in the green, up nearly 0.2%.
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