Index Action
Nifty50
The Nifty50 started the session on a positive note and has been trading in a narrow range between 16,900 and 16,800 levels since morning. Auto and FMCG stocks led the gains, while Oil & Gas and Metal stocks were the biggest drags. At 12 pm today, the Nifty50 was trading 9 points higher at 16,880.
For March 17 options contracts, the Nifty50 has sizable positions at 17,000 and 16,900 call options and 16,500 and 16,600 put options. Further additions were seen in 17,000 call options and 16,800 put options.
The Nifty50's immediate support is at 16,400 and resistance is at 17,100 levels.
Bank Nifty
The Bank Nifty bounced back after the initial slip to 35,200 levels. With 11 out of 12 stocks trading higher, the breadth of the index remains positive. At 12 pm today, the Bank Nifty was trading 208 points higher at 35,520.
For March 17 options contracts, the Bank Nifty has sizable positions at 36,000 and 35,500 call options and 35,000 and 35,500 put options. Further additions were seen in both 35,500 call options and put options.
The Bank Nifty's immediate support is at 34,600 and resistance is at 36,000 levels.
Stock Action
Today’s top gainers are Bandhan Bank, Indiabulls Housing Finance, AU Small Finance Bank, PEL and Tata Consumer Products.
Today’s top losers are ONGC, Balrampur Chini, Hindalco, NMDC and JSPL.
Sector Update
The Auto and Realty sectors saw buying interest. Stocks like Maruti Suzuki, Ashok Leyland, M&M, Godrej Properties and DLF are trading in the green.
The Metal and IT sectors came under selling pressure. Stocks like Hindalco, NMDC, JSPL, LTI and Mindtree 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 -1.4% to 1.6%. US Futures are also trading flat, up by 7 points.
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