Index Action
Nifty50
Nifty50 traded in a range of 150 points today. Multiple attempts to rise were met by selling pressure at higher levels which dragged Nifty50 to 17200, eventually closing 103 points lower at 17, 221.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options.
Nifty50’s weekly options expiring on December 16 have sizable positions at 17,300 and 17,400 call options and 17,000 and 17,200 put options.
As per options data, the broad range for Nifty50 is between 16,300 and 18,300 levels. Its immediate support is at 17,000 and resistance is at 17,600 levels.
Bank Nifty
Bank Nifty was trading in the green in the first session but sharp selling in the last hour saw it slip into the red. It closed 104 points lower at 36,789.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 37,000 call options and 36,000 and 37,000 put options.
Bank Nifty’s weekly options expiring on December 16 have sizable positions at 37,000 and 37,500 call options and 36,500 and 36,000 put options.
As per the options data, the broad range for Bank Nifty, is between 35,400 and 38,200 levels. Its immediate support is at 36,200 and resistance is at 37,600 levels.
Stock Action
Today’s top gainers were PI Industries, CG Consumer, Sun Pharma, Chambal Fertilisers and Indiabulls Housing Finance.
Today's top losers were IEX, Pfizer, Polycab, GSPL and M&M Financial.
Sector Update
Nifty Auto with buying interest emerged as the leading sector. Stocks like TVS Motors, M&M, Maruti Suzuki and Hero Motocorp closed in the green.
Realty and Media sectors saw selling pressure today. Stocks like Godrej Properties, Oberoi Realty, PVR, Sun TV and Zee Entertainment closed in the red.
Major News
The Indian Government has approved a ₹76,000 crore incentive scheme for semiconductors. This is a part of the Government’s aim to deepen India’s manufacturing base.