Index Action
Nifty50
The Nifty50 is trading higher amid volatility as reports of escalating tensions between Russia and Ukraine keep investors wary. At 12 pm today, it was trading 58 points higher at 17,380. Energy and Metal stocks pulled the index higher, while Banking and Pharma stocks were the biggest drags.
For February 17 options contracts, the Nifty50 has sizable positions at 17,500 and 17,400 call options and 17,300 and 17,200 put options. Further, additions were seen in 17,400 call options and 17,300 put options.
The Nifty50’s immediate support is at 16,800 and resistance is at 17,600 levels.
Bank Nifty
The Bank Nifty opened higher but slipped below the 37,500 mark in the first session. With both private and PSU banks trading in red, the Bank Nifty is among the top losing index. At 12 pm today, it was trading 171 points lower at 37,782.
For February 17 options contracts, the Bank Nifty has sizable positions at 38,000 and 38,100 call options and 37,500 and 37,400 put options. Further additions were seen in 37,800 call and 37,400 put options.
The Bank Nifty’s immediate support is at 37,100 and resistance is at 38,900 levels.
Stock Action
Today’s top gainers are Shriram Transport Finance, Navin Fluorine, Page Industries, Indian Hotels and FSL.
Today’s top losers are Manappuram, Alembic Pharma, Muthoot Finance, Indiamart and Ipca Labs.
Sector Update
Realty and Energy emerged as the leading sectors with buying interest today. Stocks like Godrej Properties, DLF, ONGC, IOC and Tata Power are trading in the green.
Banking and Pharma sectors came under selling pressure. Stocks like Axis Bank, RBL, ICICI Bank, Alembic Pharma and Ipca Labs are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading in the range of -1% to +0.1%. The US futures are trading lower, down by 0.4%.
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