Index Action
Nifty50
Amid broad-based selling across sectors, the Nifty50 slumped to 16,800 levels. It closed 531 points lower to 16,842. The overall breadth of the market remained negative as tensions between Ukraine and Russia worried investors. Out of Nifty50 stocks, 49 stocks closed in red.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options.
The Nifty50’s weekly options expiring on February 17 have sizable positions at 17,100 and 17,000 call options and 16,500 and 17,000 put options.
As per options data, the broad range for the Nifty50 is between 16,200 and 18,200 levels. Its immediate support is at 16,700 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty crashed below the 37,000 mark and tanked more than 4%. As the sell-off intensified, all 12 stocks of the banking index closed in the red, dragging the Bank Nifty 1,608 points lower to 36,908.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 37,500 and 38,000 call options and 37,000 and 36,000 put options.
The Bank Nifty’s weekly options expiring on February 17 have sizable positions at 37,500 and 38,000 call options and 37,000 and 36,500 put options.
As per options data, the broad range for the Bank Nifty is between 35,500 and 38,300 levels. Its immediate support is at 36,300 and resistance is at 37,700 levels.
Stock Action
Today’s top gainers were Cummins India, Gujarat Gas, TCS and ONGC.
Today's top losers were Metropolis, Hindustan Copper, Honeywell Automation, LIC Housing Finance and Strides Pharma.
Sector Update
All sectors closed deep in the red. Realty, Metal and Banking sector came were the biggest drags. Stocks like DLF, Godrej Properties, Hindustan Copper, JSW Steel and PNB closed in the red.
Major News
Amid rising geopolitical tensions between Russia and Ukraine, the Brent crude jumped to its seven-year-high. The black liquid hit a high of $96.07 per barrel but has cooled off from those levels to $94.23 per barrel.