Index Action
Nifty50
The Nifty50 made a failed attempt at recovery and was dragged back deep in the red. Out of the Nifty50 pack, 40 stocks closed in red. Auto and Metals were the worst hit among sectoral indices, while IT was the lone gainer. The Nifty50 slumped 252 points to 16,245.
The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 18,000 and 17,000 call options and 16,000 and 15,500 put options.
The Nifty50’s weekly options expiring on March 10 have sizable positions at 16,500 and 16,300 call options and 16,000 and 16,300 put options.
As per options data, the broad range for the Nifty50 is between 15,500 and 17,600 levels. Its immediate support is at 15,900 and resistance is at 16,800 levels.
Bank Nifty
The Bank Nifty bounced back sharply from the 34,000 levels and traded above the 35,000 mark for a brief period. However, selling pressure at higher levels dragged the index lower, and it fell 536 points to 34,407.
The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 36,000 and 37,000 call options and 34,000 and 33,000 put options.
The Bank Nifty’s weekly options expiring on March 10 have sizable positions at 36,000 and 35,000 call options and 34,000 and 33,000 put options.
As per options data, the broad range for the Bank Nifty is between 33,100 and 37,100 levels. Its immediate support is at 33,600 and resistance is at 35,100 levels.
Stock Action
Today’s top gainers were Strides Pharma, Intellect Design, ITC, Dr.Reddy's and ACC.
Today's top losers were IRCTC, Vodafone Idea, MCX India, Aarti Industries and Jubilant Foodworks.
Sector Update
Among sectors, only the IT sector eked out a gain of 0 .14 %. Stocks like Tech Mahindra, LTI and Mphasis closed in the green.
The Auto and Metal sectors were the worst hit. Stocks like TVS Motor, Maruti Suzuki, Tata Motors, Vedanta and NALCO closed in the red.
Major News
As per reports, the Russian military has seizedEurope’s biggest nuclear power plant based in Ukraine.