Index Action
Nifty50
Amid strong global cues, the Nifty50 opened above the 17,100 mark and moved higher. The markets witnessed broad-based buying in FMCG, auto and banking stocks. At 12 pm today, it was trading 320 points higher at 17,296.
For March 17 options contracts, the 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 17,400 call options and 17,200 put options.
The Nifty50's immediate support is at 16,900 and resistance is at 17,700 levels.
Bank Nifty
With momentum in financial stocks and FIIs turning net buyers, the Bank Nifty continues to outperform Nifty50. Also, private banks have surpassed their PSU peers, taking the Bank Nifty higher by 815 points to 36,563.
For March 17 options contracts, the Bank Nifty has sizable positions at 36,500 and 37,000 call options and 36,000 and 36,500 put options. Further additions were seen in both 36,500 call options and put options.
The Bank Nifty's immediate support is at 35,800 and resistance is at 37,400 levels.
Stock Action
Today’s top gainers are Trent, Whirlpool, Godrej Properties, Titan and HDFC.
Today’s top losers are NALCO, Balrampur Chini, Zydus Lifesciences, Apollo Hospitals and ABB.
Sector Update
All the major indices are trading in the green, with Auto and Banking being the top gainers. Stocks like Eicher Motors, Bosch, Maruti Suzuki, Kotak Mahindra Bank and HDFC Bank are trading in the green.
Global Markets Update
Major European markets are likely to open mixed as their Futures are trading in the range of -0.7% to +4%. US Futures are trading lower, down by 0.1%.