Index Action
Nifty50
Nifty50 had a range-bound session today and ended the day on a flat note. It closed down by 1.9 points at 17,855.
The highest call option base for September series is at 18,000 and 18,500 strikes. Even the 17,900 strike call option saw additions today. For put options the highest base is still at 17,000 and 17,800.
PCR-OI data indicates immediate support and resistance at 17,600 and 18,200 levels respectively.
Bank Nifty
Bank Nifty had a positive session today and closed 340 points higher at 38,171.
The highest call option base for this series is now at 38,500 and 39,000 strikes. For put options it is still at 37,000 followed by 37,500 strikes.
PCR-OI data indicates immediate support and resistance at 37,800 and 38,500 respectively.
Global Markets Update
Major European markets are trading positive in the range of 0.2% to 0.5%. Dow Futures has come down but is still trading 100 points in the green.
Stock Action
Todays’ Top Gainers were Maruti Suzuki, Indian Hotels, Adani Enterprises, PVR and AU Small Finance,
Today’s Top Losers were Mindtree, HCL Tech, L&T Infotech, Mphasis and Coforge.
Major News
Oil continues its upward march with Brent crude crossing $78 per barrel.
The finance minister suggested that the PSU Banks look to the markets to raise funds and not depend on the government for it. PSU Bank index closed 0.5% higher today.
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