Nifty50
Nifty50 had a volatile day today with a positive bias. It opened on a strong note and saw follow-through buying as it crossed 16,900 mark. Selling at higher levels saw it drop from the highs and closed 156 points higher at 16,770.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,000 call options and 16,500 and 16,000 put options.
Nifty50’s weekly options expiring on December 23 have sizable positions at 17,200 and 17,000 call options and 16,000 and 16,500 put options.
As per options data, the broad range for Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,400, and resistance is at 17,200 levels.
Bank Nifty
After a positive opening, Bank Nifty traded near 35,000 level during the day but failed to cross the mark convincingly. Selling at higher levels saw it trade flat before closing 168 points higher at 34,607.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 36,000 and 37,000 call options and 34,000 and 34,500 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 Indus Towers, NALCO, Dixon Technology, Godrej Consumer and ABFRL.
Today's top losers were Shriram Transport Finance, Power Grid, Bank of Baroda, Axis Bank and Balkrishna Industries.
Sector Update
Among Nifty sectoral indices, Metal, Media and IT sector saw buying interest and emerged as the leading sector. Stocks like NALCO, Vedanta, Zee Entertainment, PVR and Coforge closed in the green.
No major sectoral indices closed in the red today.
Major News
Rupee could end the year as Asia’s worst-performing currency as it declined nearly 1.9% this quarter. During the same period, Foreign Institutional Investors (FIIs) sold Indian stocks worth $4.2 billion and pulled the capital out of Indian stock markets.