Index Action
Nifty50
Amid strong global cues and a sharp drop in crude oil prices, the Nifty50 opened higher and held on to the opening gains. The rally was broad-based across sectors, with Auto and Banking stocks leading the pack. At 12 pm today, it was trading 365 points higher at 16,710.
For March 10 options contracts, the Nifty50 has sizable positions at 16,800 and 16,900 call options and 16,600 and 16,500 put options. Further additions were seen in 16,900 call options and 16,600 put options.
The Nifty50's immediate support is at 16,200 and resistance is at 17,100 levels.
Bank Nifty
The Bank Nifty reclaimed the 35,000 mark and traded firmly in the green. Private banks are outperforming their PSU peers, and all the 12 stocks of the index are trading in the green. At 12 pm today, it was trading 1,398 points higher at 35,214.
For March 10 options contracts, the Bank Nifty has sizable positions at 35,500 and 35,800 call options and 35,000 and 34,800 put options. Further additions were seen in 35,500 call options and 35,000 put options.
The Bank Nifty's immediate support is at 34,200 and resistance is at 35,800 levels.
Stock Action
Today’s top gainers are JK Cement, Motherson Sumi, Tata Motors, Indigo and IndusInd Bank.
Today’s top losers are Coforge, GAIL, Coal India, Petronet LNG and NALCO.
Sector Update
All the Nifty sectoral indices are trading in green, with Auto and Banking being the top gainers. Stocks like Tata Motors, Maruti Suzuki, Ashok Leyland, IndusInd Bank and Axis Bank are trading in the green.
Global Markets Update
Major European markets are likely to open higher as their Futures are trading flat to positive in the range of -0.08% to +6%. US Futures are trading lower, down by 0.1%.