Index Action
Nifty50
The Nifty50 snapped its losing streak and ended the last session of May F&O expiry in the green. In a sharp reversal, the index rallied 300 points from its intraday low and surpassed the 16,200-mark, aided by metals and banking stocks. The Nifty50 advanced 144 points and closed the day at 16,170.
The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 15,500 put options.
The Nifty50’s options contracts expiring on 2 June have sizable positions at 16,500 and 16,200 call options and 16,000 and 15,800 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 16,900 levels. Its immediate support is at 15,900 and resistance is at 16,500 levels.
Bank Nifty
After an initial blip, the Bank Nifty made a sharp recovery of nearly 800 points from its intraday low and zoomed past the 35,000-mark. The PSU bank index jumped 3%, while the private bank index advanced 2%. The Bank Nifty closed the day 755 points higher at 35,094, up 2%.
The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 35,000 and 36,000 call options and 33,000 and 34,500 put options.
The Bank Nifty’s options contracts expiring on 2 June have sizable positions at 35,000 and 36,000 call options and 34,000 and 33,000 put options.
As per the options data, the broad range for the Bank Nifty is between 33,000 and 36,200 levels. Its immediate support is at 34,600 and resistance is at 35,700 levels.
Stock Action
Today’s top gainers were Torrent Pharma, Indigo, Dr. Lal Pathlabs, M&M Financial and Balrampur Chini.
Today's top losers were Havells, Chambal Fertilisers, Divi's Labs, IEX and Abbott India.
Sector Update
Among major sectoral indices, Metal and Nifty Bank were the top gainers. Stocks like Tata Steel, JSW Steel, NMDC, Bank of Baroda and SBI ended in the green.
The FMCG sector was the sole loser today. Stocks like ITC and HUL ended in the red.
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