Index Action
Nifty50
Nifty50 touched new all-time highs of 17,947 before profit-booking set in. It closed 30 points higher at 17,853.
Monthly call options now have the highest base at 18,500 followed by 18,000. Put options base has shifted to 17,700 and 17,500 with both strikes witnessing further additions.
Options open interest data indicates a broad range for Nifty50 at 17,500 and 18,500 while the PCR-OI data indicates immediate support and resistance at 17,700 and 18,200 respectively.
Next week is the expiry for September contracts.
Bank Nifty
Bank Nifty gave up the opening gains but managed to close 58 points higher at 37,830.
Monthly call options have the highest base at 38,000 followed by 39,000. The highest put option base is still at 37,000 followed by 37,500.
Options data open interest indicates a broad range for Bank Nifty at 37,000 and 39,000 while the PCR-OI data indicates immediate support and resistance at 37,400 and 38,200 respectively.
Global Markets Update
Major European markets are trading negative to the tune of -0.2% to -1%. Dow Futures is also trading down by 65 points.
Stock Action
Todays’ Top Gainers were Indus Towers, Vodafone Idea, Tata Chemicals, Asian Paints & L&T Infotech.
Today’s Top Losers were Apollo Hospital, PVR, Tata Steel, Alembic Pharma and Dr.Lal Pathlab.
Major News
Oil prices are set to register their fifth weekly gain due to the rise in demand for crude amid the global energy crunch. Brent crude is now trading at more than $77 per barrel.
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