Index Action
Nifty50
Bears are in complete control of the Nifty50 today. Markets are witnessing a broad-based sell-off, except the IT sector. Nifty50 is trying hard to hold on to the 17,000 mark. At 12 pm today, it was trading 220 points lower at 17,027.
For December 23 options contracts, Nifty50 has sizable positions at 17,300 and 17,500 call options and 17,000 and 16,500 put options. Further, additions were seen in 17,200 call options and 17,000 put options.
Nifty50 has immediate support at 16,800 and resistance is at 17,500 levels.
Bank Nifty
Bank Nifty is seeing a big slide as investors are concerned about the rising interest rates following a rate hike by the Bank of England. At 12 pm today, it was trading 714 points lower at 35,833.
For December 23 options contracts, Bank Nifty has sizable positions at 36,500 and 36,000 call options and 36,000 and 35,500 put options. Further additions were seen at 36,000 call and 35,800 put options.
Bank Nifty has immediate support at 35,300 and resistance is at 36,700 levels.
Stock Action
Today’s top gainers are Persistent, Infosys, Mphasis, L&T Infotech and HCL Tech.
Today’s top losers are Indiabulls Housing Finance, Zee Entertainment, BHEL, Chola Investments and Delta Corp.
Sector Update
Amongst the sectoral indices, Nifty IT has emerged as the leading sector with buying interest today. Stocks like Infosys, Mphasis, L&T Infotech and Wipro are trading in the green.
The Media and Realty sectors, followed by PSU Banks, are seeing selling pressure today. Stocks like Zee Entertainment, PVR, Godrej Properties, DLF and Canara Bank 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 -0.4% to +0.6%. US Futures are trading flat with a negative bias, down by 11 points.