Index Action
Nifty50
The Nifty50 started the day on a positive note amid mixed Asian cues. Gains in Auto and IT stocks pushed the index higher, while metal and energy stocks limited the upside . At 12 pm today, it was trading 215 points higher at 17,057.
For February 17 options contracts, the Nifty50 has sizable positions at 17,100 and 17,000 call options and 16,800 and 16,900 put options. Further, additions were seen in 17,100 call options and 16,800 put options.
The Nifty50’s immediate support is at 16,700 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty witnessed high volatility in the first session but crossed the 37,000 mark. With PSU banks outperforming their private counterparts, the overall breadth of the banking index remains positive. At 12 pm today, it was trading 277 points higher at 37,185.
For February 17 options contracts, the Bank Nifty has sizable positions at 37,500 and 38,000 call options and 37,000 and 36,500 put options. Further additions were seen in 37,500 call and 37,000 put options.
The Bank Nifty’s immediate support is at 36,300 and resistance is at 37,700 levels.
Stock Action
Today’s top gainers are Indiamart, Hero MotoCorp, Zee Entertainment, Jubilant Foodworks and LIC Housing Finance.
Today’s top losers are Manapurram, NMDC, Metropolis, Cipla and Sun TV.
Sector Update
IT and Auto emerged as the leading sectors with buying interest today. Stocks like Infosys, Coforge, Mindtree, Hero Motocorp and Eicher Motors are trading in the green.
The Metal and Energy sectors came under selling pressure. Stocks like NMDC, JSPL, Tata Steel, GAIL and Power Grid 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 -2.6% to -0.3%. The US Futures are also trading lower, down by 0.2%.
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