Index Action
Nifty50
Nifty50 slipped nearly 575 points and touched a low of 16,410. It managed to recover some lost ground and rebounded about 200 points from the lows to close 371 points lower at 16,614.
Nifty50’s monthly options expiring on December 30 have sizable positions at 17,000 and 17,500 call options and 16,500 and 16,000 put options.
Nifty50’s weekly options expiring on December 23 have sizable positions at 17,000 and 17,200 call options and 16,000 and 16,500 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,500 levels. Its immediate support is at 16,200 and resistance is at 16,900 levels.
Bank Nifty
Bank Nifty fell nearly 1,600 points and took support at 34,000. It saw mild recovery from 34000 but closed deep in the red, down by 1178 points at 34,439.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 37,000 and 36,000 call options and 34,000 and 33,000 put options.
Bank Nifty’s weekly options expiring on December 23 have sizable positions at 36,000 and 35,000 call options and 34,000 and 34,500 put options.
As per the options data, the broad range for Bank Nifty, is between 32,800 and 36,300 levels. Its immediate support is at 33,800 and resistance is at 35,700 levels.
Stock Action
Today’s top gainers were Cipla, Alembic Pharma, HUL, Glenmark and Aurobindo Pharma.
Today's top losers were AU Small Finance Bank, FSL, L&T Technology, Indiabulls Housing Finance and Bandhan Bank.
Sector Update
All Nifty sectoral indices closed in the red.
The Realty sector and PSU Banks, followed by the Media sector, saw selling pressure today. Stocks like DLF, Oberoi Realty, Bank of Baroda, Canara Bank and Sun TV closed in the red.
Major News
Retail sales in November grew by 9% over the pre-pandemic levels the same month in November 2019 suggesting an improvement in business despite the worries of Omicron variant and third wave of pandemic, as per the business survey conducted by industry body Retailers Association of India (RAI).
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