Index Action
Nifty50
The Nifty50 had a volatile day and failed to hold on to intraday gains. Banking, Metal and Auto stocks came under selling pressure, while Pharma and Oil & Gas stocks provided upside support. The Nifty50 settled 30 points lower at 17,322.
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 17,500 and 17,600 call options and 17,000 and 17,300 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 16,900 and resistance is at 17,800 levels.
Bank Nifty
The Bank Nifty crossed the 38,400 mark twice during the day but failed to sustain. It closed 216 points to 37,953. With both PSU and private banks coming under selling pressure, only 2 out of 12 stocks of the banking index closed in green.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 38,500 call options and 37,000 and 37,500 put options.
The Bank Nifty’s weekly options expiring on February 17 have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options.
As per options data, the broad range for the Bank Nifty, is between 37,000 and 39,900 levels. Its immediate support is at 37,300 and resistance is at 39,000 levels.
Stock Action
Today’s top gainers were M&M Financial, CG Consumer, Divis Labs, ONGC and HPCL.
Today's top losers were Balkrishna Industries, FSL, Persistent, Atul Ltd and Bank of Baroda.
Sector Update
Realty and Pharma emerged as the leading sectors with buying interest today. Stocks like Godrej Properties, Oberoi Realty, Divis Labs, Abbott India, and Strides Pharma closed in the green.
The Banking and Metal sectors came under selling pressure. Stocks like AU Small Finance Bank, ICICI Bank, SBI, Hindustan Copper and Tata Steel closed in the red.
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