Index Action
Nifty50
The Nifty50 extended its opening gains and crossed the 17,300 mark. Reliance Industries, aided by gains from across sectors, pushed the index higher. With a strong breadth of 42 advances to 8 declines, at 12 pm, the Nifty50 was trading 203 points higher at 17,340.
For April 21 options contracts, the Nifty50 has sizable positions at 17,400 and 17,500 call options and 17,200 and 17,300 put options. Further, additions were seen in 17,400 call options and 17,300 put options.
The Nifty50's immediate support is at 16,900 and resistance is at 17,600 levels.
Bank Nifty
The Bank Nifty opened above the 36,500 mark and gained further momentum. With all 12 bank stocks trading in the green, at 12 pm, the Bank Nifty was trading 299 points higher at 36,614.
For April 21 options contracts, the Bank Nifty has sizable positions at 37,000 and 36,800 call options and 36,500 and 36,300 put options. Further additions were seen in 36,800 call options and 36,000 put options.
The Bank Nifty's immediate support is at 36,000 and resistance is at 37,200 levels.
Stock Action
Today’s top gainers are Polycab, Apollo Tyres, Jubilant FoodWorks, Biocon and Indiamart.
Today’s top losers are Jindal Steel and Power, GAIL, Zydus Lifesciences, Tata Steel and JSW Steel.
Sector Update
The Auto and IT sectors witnessed buying interest today. Stocks like Bharat Forge, Maruti Suzuki, TCS, Infosys, Coforge, are trading in the green.
The Metal sectors came under selling pressure today. Stocks like Jindal Steel and Power, Tata Steel and JSW Steel are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their futures are trading positive in the range of 0.2% to 0.3%. The U.S. futures are trading higher, up by 0.3%.
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