Index Action
Nifty50: After the initial slump below 16,800, the Nifty50 saw a recovery to 17,160 levels. Selling at higher levels in the second half brought the benchmark index down again, as it closed 27 points higher at 17,053.
Nifty50 monthly options expiring on December 30 are still scattered and 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 2 have sizable positions at 17,300 and 17,500 call options and 17,000 and 16,800 put options. Further additions were seen at 17,300 call options and 17,000 put options
The broad range for Nifty50, as per options data, is 16,000 and 18,200 levels and its immediate support is at 16,700 and resistance is at 17,600 levels.
Bank Nifty: Bank Nifty had a highly volatile day as it swung nearly 1,000 points between the red and the green territories. It closed 49 points lower at 35,976.
Bank Nifty monthly options expiring on December 30 are still scattered and have sizable positions at 38,000 and 37,500 call options and 36,000 and 35,000 put options.
Bank Nifty weekly options expiring on December 2 have sizable positions at 37,000 and 38,000 call options and 36,000 and 35,000 put options. Further additions were seen at both 36,000 call options and put options.
The broad range for Bank Nifty, as per the options data, is between 34,800 and 38,200. Immediate support is at 35,300 and resistance is at 36,800 levels.
Stock Action
Today’s top gainers were Dr.Lal Pathlabs, Persistent, Metropolis, Ipca Labs and Navin Fluorine.
Today's top losers were Delta Corp., Indiabulls Housing Finance, Granules, IRCTC and Indian Hotels.
Sector Update
IT was the only sector that emerged as the leading sector today with buying interest. Stocks like HCL Tech, TCS and Wipro closed in the green.
Media sector and PSU Banks saw selling pressure today. Stocks like Zee Entertainment, PVR, Bank of Baroda, PNB and SBI closed in the red.
Major News: World Health Organisation (WHO) in its technical advisory to its member countries has said that the new coronavirus variant, Omicron, is likely to spread internationally and poses a very high global risk. It has also urged member nations to accelerate vaccination of high-priority groups and ensure that mitigation plans are in place to maintain essential health services.