Index Action
Nifty50
Nifty50 opened higher and hit a high of 18,272 before profit-booking set in, dragging it sharply in the red. Led by Metals and Pharma stocks it has climbed back into the green. At 12 pm today, it was trading 26 points higher at 18,238.
For January 13 options contracts, Nifty50 has sizable positions at 18,300 and 18,500 call options and 18,200 and 18,000 put options. Further, additions were seen in 18,300 call options and 18,200 put options.
Nifty50 has immediate support at 17,600 and resistance is at 18,400 levels.
Bank Nifty
Bank Nifty opened flat and saw a sharp drop immediately. Further buying attempts were sold into as it slipped deeper to 34,000 levels and has managed to gain some lost ground. At 12 pm today, it was trading 172 points lower at 38,554.
For January 13 options contracts, Bank Nifty has sizable positions at 39,000 and 38,800 call options and 38,500 and 38,300 put options. Further additions were seen at 38,800 call options and 38,500 put options.
Bank Nifty has immediate support at 38,000 and resistance is at 39,200 levels.
Stock Action
Today’s top gainers are Atul Industries, JSPL, Tata Steel, JSW Steel and Coal India.
Today’s top losers are Wipro, Oberoi Realty, Havells, Coforge and GSPL.
Sector Update
Metal and Pharma emerged as the leading sectors with buying interest today. Stocks like JSPL, Tata Steel, JSW Steel, Sun Pharma and Granules are trading in the green.
The Realty and Auto sectors are seeing selling pressure today. Stocks like Oberoi Realty, Godrej Properties, DLF, Tata Motors and Maruti Suzuki are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading in the range of -0.04% to +0.8%. US Futures are trading lower, down nearly 0.1%.