Index Action
Nifty50
The Nifty50 gained strength during the day and closed near the day’s high. Broad-based rally across all sectors, led by Metal, Auto and Banks, pushed the Nifty50 closer to 17,000. The index jumped 312 points to close at 16,975.
The Nifty50’s monthly options expiring on March 31 have sizable positions at 18,000 and 17,000 call options and 16,000 and 16,500 put options.
The Nifty50’s weekly options expiring on March 17 have sizable positions at 17,000 and 17,200 call options and 16,900 and 16,700 put options.
As per options data, a broad range for the Nifty50 is between 16,000 and 17,800 levels. Its immediate support is at 16,500 and resistance is at 17,300 levels.
Bank Nifty
After a gap-up opening, the Bank Nifty showed strength throughout the session and closed on a stronger note. With 11 out of 12 stocks closing in green, the index soared 725 points to 35,748.
The Bank Nifty’s monthly options expiring on March 31 have sizable positions at 36,000 and 37,000 call options and 34,000 and 35,000 put options.
The Bank Nifty’s weekly options expiring on March 17 have sizable positions at 36,000 and 36,500 call options and 35,000 and 35,500 put options.
As per options data, the broad range for the Bank Nifty is between 34,200 and 37,000 levels. Its immediate support is at 34,800 and resistance is at 36,300 levels.
Stock Action
Today’s top gainers were JK Cement, Intellect Design, HAL, Nippon and IDFC.
Today's top losers were Mphasis, Zydus Lifesciences, Pfizer, Gujarat Gas and Chambal Fertilisers.
Sector Update
All the major sectors closed in green, led by Realty and Metal. Stocks like DLF, Oberoi Realty, JSW Steel, Tata Steel and Vedanta closed higher.
Major News
As per reports, Russia and Ukraine are close to agreeing on some parts of the compromise deal, increasing hopes of ending the war.
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