Index Action
Nifty50
After a gap-down opening, the Nifty50 extended the losses for the second consecutive day. Losses in oil & gas, IT and metal stocks dragged the index lower, while fag-end recovery in select private bank stocks lent support.
The Nifty50’s monthly options expiring on April 28 have sizable positions at 18,000 and 19,000 call options and 17,500 and 17,000 put options.
The Nifty50’s weekly options expiring on April 13 have sizable positions at 17,600 and 17,800 call options and 17,500 and 17,400 put options.
As per options data, the broad range for the Nifty50 is between 16,800 and 18,500 levels. Its immediate support is at 17,300 and resistance is at 17,900 levels.
Bank Nifty
The Bank Nifty recovered sharply towards the close and outperformed the Nifty50 index. The gains in leading private banks like Axis Bank and Kotak Mahindra Bank helped the index close higher at 37,747, up 0.3%.
The Bank Nifty's monthly options expiring on April 28 have sizable positions at 38,000 and 39,000 call options and 36,000 and 37,000 put options.
The Bank Nifty’s weekly options expiring on April 13 have sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options.
As per the options data, the broad range for the Bank Nifty is between 36,600 and 39,000 levels. Its immediate support is at 37,200 and resistance is at 38,200 levels.
Stock Action
Today’s top gainers were Bandhan Bank, PI Industries, PVR, M&M Financial and Astral.
Today's top losers were Birlasoft, Hindalco, Coal India, Godrej Properties and L&T Technology Services.
Sector Update
The banking and financial services indices witnessed buying interest. Stocks like Bandhan Bank, Axis Bank, Kotak Mahindra Bank, SBI Life and HDFC closed in the green.
The realty and metal sectors saw selling pressure today. Stocks like Godrej Properties, DLF, Hindalco, Vedanta and NALCO closed in the red.
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