Index Action
Nifty50
Nifty50 gave the bulls a reason to cheer as it witnessed strong broad-based buying interest and most major sectors participated in today’s rally. It closed 234 points higher at 17,401.
Nifty50 monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options.
Nifty50 weekly options expiring on December 9 have sizable positions at 18,000 and 17,700 call options and 17,000 and 17,300 put options.
The broad range for Nifty50, as per options data, is 16,150 and 18,200 levels and its immediate support is at 17,100 and resistance is at 17,750 levels.
Bank Nifty
Bank Nifty traded in a narrow range today but managed to close in the green. It closed 143 points higher at 36,508.
Bank Nifty monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 35,500 and 35,000 put options.
Bank Nifty weekly options expiring on December 9 have sizable positions at 37,500 and 37,000 call options and 36,000 and 35,500 put options.
The broad range for Bank Nifty, as per the options data, is between 34,700 and 37,900 levels. Bank Nifty’s immediate support is at 35,400 and resistance is at 37,200 levels.
Stock Action
Today’s top gainers were GMR Infra, Adani Ports, MCX India,Persistent and NMDC.
Today's top losers were Vedanta, Indus Towers, Alembic Pharma, Pfizer and Godrej Consumer.
Sector Update
IT and Metal sectors, followed by Media, emerged as the leading sectors today with buying interest. Stocks like Mindtree, Mphasis, NMDC, Tata Steel and PVR closed in the green.
No major sectoral index closed in the red today.
Major News: As per a CRISIL report, Central Capital Expenditure (Capex) has already crossed the pre-pandemic trendline and states are likely to perform on expected lines if the budgetary targets are met. This is a positive sign for the growth of the economy as public capex has a higher multiplier effect of the economic output over revenue spending.