Index Action
Nifty50
The Nifty50 opened in the green and extended the gains to 16,000 levels. In a sharp turnaround, all sectors are trading in the green, with Auto and FMCG leading the pack. At 12 pm today, the Nifty50 was trading 218 points higher at 16,026.
For May 19 options contracts, the Nifty50 has sizable positions at 16,000 and 16,300 call options and 16,000 and 15,700 put options. Further, additions were seen in 16,300 call options and 15,900 put options.
The Nifty50's immediate support is at 15,800 and resistance is at 16,300 levels.
Bank Nifty
After a strong opening, the Bank Nifty have up all its opening gains and dipped to the 33,550-mark. However, with PSU banks staging a sharp recovery, the index recouped its losses and crossed the day's high. At 12 pm today, the Bank Nifty was trading 228 points higher at 33,760.
For May 19 options contracts, the Bank Nifty has sizable positions at 34,000 and 35,000 call options and 32,500 and 32,000 put options. Further additions were seen in 34,000 call options and 32,500 put options.
The Bank Nifty's immediate support is at 33,200 and resistance is at 34,200 levels.
Stock Action
Today’s top gainers are RBL Bank, Tata Motors, IGL, MRF and Bandhan Bank.
Today’s top losers are Indus Towers, OFSS, Honeywell Automation, GNFC and Ambuja Cements.
Sector Update
All the major sectoral indices were trading in the green, with Auto, FMCG and Pharma being the top gainers. Stocks like Tata Motors, Ashok Leyland, United Spirits, Godrej Consumer Products and Torrent Pharma were trading in the green.
Global Markets Update
Major European markets are likely to open higher as their futures are trading positive in the range of 0.5% to 0.8%. US Futures too are trading higher, up by 0.6%.
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