Index Action
Nifty50
Nifty50 had a range-bound day today as it oscillated between the negative and positive territories. It closed 47 points higher at 17,516.
Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options.
Nifty50’s weekly options expiring on December 16 have sizable positions at 17,500 and 18,000 call options and 17,500 and 17,200 put options.
As per the options data, the broad range for Nifty50 is between 16,300 and 18,300 levels. Its immediate support is at 17,000 and resistance is at 17,900 levels.
Bank Nifty
Bank Nifty had a subdued day today. It closed in the negative but managed to close above the 37,000 level. Bank Nifty closed 202 points lower at 37,082.
Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 37,000 and 36,000 put options.
Bank Nifty’s weekly options expiring on December 16 have sizable positions at 38,000 and 37,000 call options and 37,000 and 36,000 put options.
As per options data, the broad range for Bank Nifty is between 35,500 and 38,400 levels. Its immediate support is at 36,100 and resistance is at 37,800 levels.
Stock Action
Today’s top gainers were Vodafone Idea, Granules, ITC, Zee Entertainment and FSL.
Today's top losers were SBI Cards, Biocon, Chambal Fertilisers, Havells and Alembic Pharma.
Sector Update
Media and FMCG emerged as the leading sectors today with buying interest. Stocks like Zee Entertainment, PVR, ITC, Godrej Consumer and Britannia closed in the green.
The Banking and Realty sectors saw selling pressure today. Stocks like HDFC Bank, SBI, Axis Bank and Oberoi Realty closed in the red.
Major News
Oil prices rose to $76 per barrel from the recent lows of $70. Receding fears of the omicron variant’s impact on economic recovery and increasing fuel demand contributed to the price rise.
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