Index Action
Nifty50
The Nifty50 traded in a tight range with a positive bias and crossed the mark of 18300. Auto stocks strengthened their gains, whereas Pharma and private banks came under pressure. The Nifty50 ended the day 53 points higher at 18,308.
The Nifty50’s monthly options expiring on January 27 have sizable positions at 18,500 and 19,000 call options and 18,000 and 17,500 put options.
The Nifty50’s weekly options expiring on January 20 have sizable positions at 18,300 and 18,400 call options and 18,000 and 18,200 put options.
As per options data, the broad range for the Nifty50 is between 17,200 and 18,900 levels. Its immediate support is at 17,700 and resistance is at 18,500 levels.
Bank Nifty
Baring the positive opening trade, the Bank Nifty was subdued and traded lower near 38,200. It slipped 154 points to end at 38,216.
The Bank Nifty’s monthly options expiring on January 27 have sizable positions at 38,500 and 39,000 call options and 37,000 and 38,000 put options.
The Bank Nifty’s weekly options expiring on January 20 have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options.
As per the options data, the broad range for the Bank Nifty, is between 36,800 and 39,600 levels. Its immediate support is at 37,800 and resistance is at 39,000 levels.
Stock Action
Today’s top gainers were Hero Motocorp, Exide Industries, Apollo Tyres, CanFin Homes and ICICI Prudential.
Today's top losers were Granules, HCL Tech, Vedanta, Dr.Lal Pathlabs and Strides Pharma.
Sector Update
Among the Nifty sectoral indices, Auto and Realty emerged as the leading sectors with buying interest. Stocks like Hero Motocorp, Exide Industries, Amara Raja Batteries, DLF and Godrej Properties closed in the green.
The Pharma and Banking sectors came under selling pressure. Stocks like Granules, Strides Pharma, Laurus Labs, HDFC Bank and Axis Bank closed in the red.
Major News
Brent crude hit a 3-year high of $86.7 per barrel today. Investors believe tightening of output from major suppliers and the impact of the Omicron variant are the significant factors driving the black liquid’s prices higher. .