Index Action
Nifty50
The Nifty50 opened lower and slipped further amid weak global cues after the US inflation data fuelled fears of aggressive rate hikes. Fall in IT and FMCG sectors dragged the index lower. At 12 pm today, it was trading 251 points lower at 17,354.
For February 17 options contracts, the Nifty50 has sizable positions at 17,500 and 17,400 call options and 17,400 and 17,300 put options. Further, additions were seen in both 17,400 call options and put options.
The Nifty50's immediate support is at 17,000 and resistance is at 17,900 levels.
Bank Nifty
The Bank Nifty also started the session on a negative note. With 10 out of 12 stocks trading in red, the overall breadth of the index remains negative. At 12 pm today, it was trading 440 points lower at 38,570.
For February 17 options contracts, the Bank Nifty has sizable positions at 39,000 and 38,500 call options and 38,500 and 37,000 put options. Further additions were seen in both 38,500 call and put options.
The Bank Nifty's immediate support is at 38,100 and resistance is at 39,900 levels.
Stock Action
Today’s top gainers are Laurus Labs, MGL, Petronet LNG, Indian Oil Corporation and Trent.
Today’s top losers are Info Edge, Dr. Lal Pathlabs, Coforge, Indiamart and L&T Infotech.
Sector Update
All the sectors are trading in red. IT, Realty and FMCG sectors came under selling pressure. Stocks like LTI, Mindtree, DLF, Godrej Properties and Godrej Consumer are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their futures are trading negative in the range of -1.0% to -0.5%. The US Futures are also trading lower, down nearly 0.6%.
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