Index Action
Nifty50
The Nifty50 started the week on a negative note and slipped to 17,650 levels. Ahead of the IT major TCS' results today, the IT index has fallen more than 1%. Against this backdrop, at 12 pm, the Nifty50 was trading 57 points lower at 17,727.
For April 13 options contracts, the Nifty50 has sizable positions at 17,800 and 18,000 call options and 17,700 and 17,600 put options. Further, additions were seen in 17,800 call options and 17,700 put options.
The Nifty50's immediate support is at 17,500 and resistance is at 18,000 levels.
Bank Nifty
After a gap-down opening, the Bank Nifty bounced back from the lows of 37,500 and is trading in green. With 7 out of 12 bank stocks trading higher, the breadth of the index remains positive. At 12 pm today, the Bank Nifty was trading 133 points higher at 37,885.
For April 13 options contracts, the Bank Nifty has sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options. Further additions were seen in 38,000 call options and 37,500 put options.
The Bank Nifty's immediate support is at 37,300 and resistance is at 38,200 levels.
Stock Action
Today’s top gainers are Indiamart, Syngene International, Ambuja Cements, Chambal Fertilisers and HAL.
Today’s top losers are L&T Technology Services, Persistent, HCL Tech, Infosys and Larsen & Toubro Infotech.
Sector Update
The Oil & Gas and Metal sectors witnessed buying interest today. Stocks like Hindustan Petroleum, GAIL, Gujarat Gas, JSPL and Vedanta are trading in the green.
The IT and FMCG sector came under selling pressure today. Stocks like L&T Technology Services, Persistent, HCL Tech, HUL and Colgate-Palmolive are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their Futures are trading flat to negative in the range of -0.06% to -0.2%. U.S. Futures are trading lower, down by 0.3%.