Index Action
Nifty50
The Nifty50 started the Thursday session on a positive note, as RBI decided to keep the interest rates unchanged. Gains in Financial and Metal stocks pushed the index higher, while Auto and FMCG stocks limited the upside. At 12 pm, it was trading higher by 144 points at 17,608.
For February 10 options contracts, the Nifty50 has sizable positions at 17,700 and 17,600 call options and 17,500 and 17,400 put options. Further, additions were seen at 17,700 call options and 17,500 put options.
The Nifty50’s immediate support is at 17,000 and resistance is at 17,900 levels.
Bank Nifty
The Bank Nifty was volatile in the opening session but sharply rose above 39,000 mark after the RBI’s policy decision. At 12 pm, it was trading 482 points higher at 39,093.
For February 10 options contracts, the Bank Nifty has sizable positions at 39,500 and 39,000 call options and 39,000 and 38,800 put options. Further additions were seen at 39,200 call and 39,000 put options.
The Bank Nifty’s immediate support is at 38,100 and resistance is at 39,900 levels.
Stock Action
Today’s top gainers are Jindal Steel & Power, Aurobindo Pharma, Hindustan Copper, Vodafone Idea and GNFC.
Today’s top losers are Gujarat Gas, GMR Infra, CG Consumer, Strides Pharma and Ambuja Cements.
Sector Update
Banking and Realty emerged as the leading sectors with buying interest. Stocks like Kotak Mahindra Bank, HDFC Bank, SBI, Godrej Properties and DLF are trading in the green.
FMCG sector came under selling pressure. Stocks like Dabur, Marico, HUL, ITC and Godrej Consumer are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their futures are trading flat to positive in the range of 0.02% to 1.4%. The US Futures are trading higher, up by nearly 0.1%.
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