Index Action
Nifty50
Tracking positive global cues, the Nifty50 opened in the green and came close to the 16,000-mark. However, the index eventually succumbed to the selling pressure and faced stiff resistance at higher levels. At 12 pm today, the Nifty50 was trading 55 points higher at 15,837.
For May 19 options contracts, the Nifty50 has sizable positions at 16,000 and 16,100 call options and 15,800 and 15,500 put options. Further, additions were seen in 16,000 call options and 15,700 put options.
The Nifty50’s immediate support is at 15,700 and resistance is at 16,200 levels.
Bank Nifty
The Bank Nifty briefly dipped to the 33,000-mark at the open but made an intraday recovery of more than 800 points and inched closer to the 34,000-mark. With all the 12 bank stocks trading higher, at 12 pm today, the Bank Nifty was trading 385 points higher at 33,506.
For May 19 options contracts, the Bank Nifty has sizable positions at 34,000 and 34,500 call options and 32,500 and 33,000 put options. Further additions were seen in 34,000 call options and 33,500 put options.
The Bank Nifty’s immediate support is at 33,000 and resistance is at 34,100 levels.
Stock Action
Today’s top gainers are Eicher Motors, Vodafone-Idea, ACC, Bandhan Bank and Balkrishna Industries.
Today’s top losers are Metropolis, AB Capital, Honeywell Automation, Nippon Life and Dr. Lal Pathlabs.
Sector Update
The Auto and Banking sectors witnessed buying interest today. Stocks like Eicher Motors, Escorts, Maruti Suzuki, Bandhan Bank and Bank of Baroda are trading in the green.
The IT and FMCG sectors came under selling pressure today. Stocks like Tech Mahindra, Infosys, HCL Tech, United Spirits and ITC are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their futures are trading negative in the range of 0.4% to 1.6%. The US futures too are trading lower, down by 0.6%.
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