Index Action
Nifty50
The Nifty50 opened firmly higher amid positive global cues and gained further momentum. Led by Financials and Auto stocks, it crossed the 16,900 mark. At 12 pm today, it was trading 257 points higher at 16,920. Out of the Nifty50 pack, only three stocks are trading lower.
For March 17 options contracts, the Nifty50 has sizable positions at 17,000 and 16,900 call options and 16,900 and 16,700 put options. Further, additions were seen in 17,000 call options and 16,900 put options.
The Nifty50's immediate support is at 16,500 and resistance at 17,200 levels.
Bank Nifty
The Bank Nifty opened higher and crossed the 35,500 mark comfortably. With both PSU and private banks participating in the rally, the Bank Nifty was up 646 points higher to 35,669.
For March 17 options contracts, the Bank Nifty has sizable positions at 36,000 and 36,500 call options and 35,000 and 35,500 put options. Further additions were seen in 36,000 call options and 35,500 put options.
The Bank Nifty's immediate support is at 34,800 and resistance is at 36,300 levels.
Stock Action
Today’s top gainers are JK Cement, Voltas, Nippon, ABB and Vedanta.
Today’s top losers are Zydus Lifesciences, Honeywell Automation, Gujarat Gas, GSPL and Pfizer.
Sector Update
All the major sectoral indices are trading in the green, with Realty and Metal being the top gainers. Stocks like Godrej Properties, DLF, Vedanta, Adani Enterprises and NALCO are 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 0.3% to 0.7%. US Futures are also trading higher, up by 0.4%.