Index Action
Nifty50
Nifty50 saw yet another volatile session where it recovered nearly 150 points from the day's lows of 17,608. It traded in the green for a brief while before slipping back into the red and closing at 17,711, down by 37 points.
Tomorrow is the expiry for the September series contracts.
The highest call option base for September series is still at 18,000 and 17,900 strikes. For put options the highest base is still at 17,000 and 17,600. Ahead of the expiry, further additions were seen at 17,800 call options and 17,600 put options.
PCR-OI data indicates immediate support and resistance at 17,600 and 18,000 levels respectively.
Bank Nifty
Bank Nifty closed in the red today down by 200 points at 37,743. It touched a low of 37,371 today and a high of 37,923 and failed to go above yesterday’s closing.
The highest call option base for this series is at 38,000 and 39,000 strikes followed by 38,500. For put options, the highest base is now at 37,500 and 37,000 strikes.
PCR-OI data indicates immediate support and resistance at 37,300 and 38,500 respectively.
Global Markets Update
Major European markets have further gained momentum after opening positive and are trading about 1% higher. Dow Futures too has strengthened further and is trading higher by 200 points.
Stock Action
Todays’ Top Gainers were Tata Power, IEX, Coal India, NTPC and Nalco.
Today’s Top Losers were HDFC AMC, Info Edge, Godrej Consumer, Metropolis and IRCTC.
Major News
Power, utilities and power-related stocks surged today with the Power Index registering gains of over 10% in one month. One of the major contributors to this rise is the reopening of a majority of the businesses and the resultant rise in demand for electricity.
Download the Upstox App Today