Index Action
Nifty50
The Nifty50 extended yesterday's losses tracking weakness across global markets. All the major sectoral indices are trading in red, with metal and realty being the biggest losers. At 12 pm today, the Nifty50 was trading 148 points lower at 17,526.
For April 13 options contracts, the Nifty50 has sizable positions at 17,600 and 17,700 call options and 17,500 and 17,400 put options. Further additions were seen in 17,600 call options and 17,500 put options.
The Nifty50's immediate support is at 17,300 and resistance is at 17,900 levels.
Bank Nifty
The Bank Nifty opened lower and traded below the 37,500 mark in the first half of the trading session. However, it managed to bounce from the 37,300 levels but has failed to crossover into the positive territory. With 9 out of the 12 bank stocks trading lower, at 12 pm, the Bank Nifty was trading 102 points lower at 37,511.
For April 13 options contracts, the Bank Nifty has sizable positions at 38,000 and 37,500 call options and 37,000 and 37,500 put options. Further additions were seen in both 37,500 call options and put options.
The Bank Nifty's immediate support is at 36,900 and resistance is at 38,000 levels.
Stock Action
Today’s top gainers are GNFC, GAIL, Torrent Pharma, Chambal Fertilisers and PI Industries.
Today’s top losers are Hindalco, Godrej Properties, Coal India, Tata Steel and Vedanta.
Sector Update
All the major sectoral indices are trading in red, with metal and realty being the biggest losers. Stocks like Hindalco, Vedanta, Tata Steel, Godrej Properties and DLF are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their Futures are trading in the range of -2.8% to -0.6%. The U.S. Futures are trading lower, down by 0.4%.
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