Index Action
Nifty50
The Nifty50 snapped its three-day losing streak and moved past 17,800 after the RBI maintained its accommodative stance and decided to keep the key interest rates unchanged. Against this backdrop, the Nifty50 climbed 144 points to close at 17,784.
The Nifty50’s monthly options expiring on April 28 have sizable positions at 18,000 and 19,000 call options and 17,500 and 17,000 put options.
The Nifty50’s weekly options expiring on April 13 have sizable positions at 18,000 and 17,800 call options and 17,700 and 17,600 put options.
As per options data, the broad range for the Nifty50 is between 17,000 and 18,800 levels. Its immediate support is at 17,500 and resistance is at 18,200 levels.
Bank Nifty
The Bank Nifty zoomed close to the 37,900 mark as RBI held the lending rate unchanged. Except for IDFC First and HDFC Bank, all other ten bank stocks closed higher. Against this backdrop, the Bank Nifty ended 194 points higher at 37,752.
The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 38,000 and 39,000 call options and 36,500 and 37,000 put options.
The Bank Nifty’s weekly options expiring on April 13 have sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options.
As per the options data, the broad range for the Bank Nifty is between 36,500 and 39,500 levels. Its immediate support is at 37,100 and resistance is at 38,400 levels.
Stock Action
Today’s top gainers were Chola Investments, Syngene International, Grasim, SBI Life and ITC.
Today's top losers were RBL Bank, Trent, Indiabulls Housing Finance, Cipla and Oberoi Realty.
Sector Update
The FMCG and Metal sectors were the top gainers today. Stocks like ITC, Godrej Consumer, Britannia, JSW Steel and Adani Enterprises closed in the green.
The IT and Realty sectors came under selling pressure today. Stocks like Tech Mahindra, Larsen & Toubro Infotech, HCL Tech, Oberoi Realty and DLF closed in the red.