Index Action
Nifty50
The Nifty50 opened on a soft note and slid further into the red. Led by IT and Pharma, it swung back into the green. At 12 pm today, it was trading 45 points higher at 18,048.
For January 13 options contracts, Nifty50 has sizable positions at 18,000 and 18,200 call options and 17,800 and 18,000 put options. Further, additions were seen in 18,200 call options and 18,000 put options.
Nifty50 has immediate support at 17,500 and resistance is at 18,300 levels.
Bank Nifty
Bank Nifty opened marginally higher and slipped 300 points to the low of 38,031. At 12 pm today, it was trading 12 points higher at 38,360.
For January 13 options contracts, Bank Nifty has sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options. Further additions were seen at 38,400 call options and 38,000 put options.
Bank Nifty has immediate support at 37,400 and resistance is at 38,900 levels.
Stock Action
Today’s top gainers are Coforge, HCL Tech, AU Small Finance Bank, Tata Chemicals and AB Capital.
Today’s top losers are Vodafone-Idea, GMR Infra, SAIL, JSPL and Aurobindo Pharma.
Sector Update
Realty and IT emerged as the leading sectors with buying interest today. Stocks like DLF, Godrej Properties, HCL Tech, Coforge and Tech Mahindra are trading in the green.
Metal and FMCG sectors came under selling pressure. Stocks like SAIL, JSPL, JSW Steel, Godrej Consumer and United Spirits are trading in the red.
Global Markets Update
Major European markets are likely to see a mixed opening as their futures are trading in the range of -0.7% to +0.3%. US Futures are trading flat with a negative bias, down nearly 0.03%.