Index Action
Nifty50
As the global markets grapple with rising Omicron cases and uncertainty regarding its impact, Nifty50 opened lower and saw further selling pressure as it breached 17,200. It has taken support at those levels but continues to trade in the red. At 12 pm today, it was trading 78 points lower at 17,246.
For December 16 options contracts, Nifty50 has sizable positions at 17,500 and 17,400 call options and 17,200 and 17,000 put options. Further, additions were seen in 17,300 call options and 17,200 put options.
Nifty50 has immediate support at 17,000 and resistance is at 17,600 levels.
Bank Nifty
Bank Nifty opened in the green and is outperforming Nifty50 today as it trades with a positive bias near 37,000. At 12 pm today, it was trading 52 points higher at 36,946.
For December 16 options contracts, Bank Nifty has sizable positions at 37,000 and 37,500 call options and 37,000 and 36,500 put options. Further additions were seen at both 37,000 call and 36,500 put options.
Bank Nifty has immediate support at 36,200 and resistance is at 37,600 levels.
Stock Action
Today’s top gainers are TVS Motors, Chambal Fertilisers, Indiabulls Housing Finance, Metropolis and Zee Entertainment.
Today’s top losers are IEX, Pfizer, Glenmark Pharma, Syngene International and Bajaj Finance.
Sector Update
The Media and Auto have emerged as the leading sectors with buying interest today. Stocks like Zee Entertainment, TVS Motors, M&M and Bajaj Auto are trading in the green.
The IT and Pharma sectors are seeing selling pressure today. Stocks like Infosys, TCS, HCL Technologies, Pfizer and Glenmark Pharma 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 -0.9% to +0.1%. US Futures are trading in the green, up by nearly 0.2%.
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