Index Action
Nifty50
The Nifty50 swung wildly between the red and green zones and ended the session higher. Gains in Realty and IT sectors pushed the index higher, while Metal and Oil & Gas dragged it lower. Out of the Nifty50 pack, 37 stocks closed in green. The Nifty50 ended 150 points higher at 16,013.
The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 17,000 and 16,500 call options and 16,000 and 15,500 put options.
The Nifty50’s weekly options expiring on March 10 have sizable positions at 16,200 and 16,300 call options and 16,000 and 15,800 put options.
As per options data, the broad range for the Nifty50 is between 15,100 and 17,100 levels. Its immediate support is at 15,500 and resistance is at 16,400 levels.
Bank Nifty
The Bank Nifty broke its losing streak with a positive close above 33,100. With all 12 stocks of the index closing in green, the Bank Nifty rose 286 points to 33,158.
The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 34,000 and 35,000 call options and 33,000 and 32,000 put options.
The Bank Nifty’s weekly options expiring on March 10 have sizable positions at 34,000 and 33,500 call options and 33,000 and 32,000 put options.
As per options data, the broad range for the Bank Nifty is between 30,500 and 35,800 levels. Its immediate support is at 32,100 and resistance is at 34,400 levels.
Stock Action
Today’s top gainers were IGL, City Union Bank, MGL, SBI Card and PVR.
Today's top losers were JK Cement, NALCO, Hindalco, ONGC and SAIL.
Sector Update
Sectorally, the Realty and IT indices saw buying interest. Stocks like DLF, Oberoi Realty, Godrej Properties, LTI and Mindtree closed in the green.
The Metal and Oil & Gas indices came under selling pressure. Stocks like Hindalco, NALCO, SAIL, Tata Steel, ONGC and GAIL closed in the red.
Major News
Russia’s invasion of Ukraine has pushed the price of metals used in cars, from Aluminium to Palladium to nickel, higher. Aluminium and Palladium hit record highs on Monday, while Nickel crossed $1,00,000 a ton today.