Index Action
Nifty50
Amid mixed global cues, the Nifty50 opened in green and moved higher to the 16,150-mark. All the major sectors were trading in the green, with Metal, Oil & Gas and IT leading the charge. At 12 pm, the Nifty50 was up by 275 points at 16,117.
For May 19 options contracts, the Nifty50 has sizable positions at 16,200 and 16,500 call options and 15,800 and 16,000 put options. Further, additions were seen in 16,200 call options and 16,000 put options.
The Nifty50’s immediate support is at 15,800 and resistance is at 16,400 levels.
Bank Nifty
The Bank Nifty opened nearly 200 points higher and reclaimed the 34,000-mark, led by gains in ICICI Bank and SBI. With all 12 bank stocks trading in the green, at 12 pm, the Bank Nifty was up 474 points at 34,071.
For May 19 options contracts, the Bank Nifty has sizable positions at 34,000 and 34,500 call options and 33,000 and 33,500 put options. Further additions were seen in 34,500 call options and 33,500 put options.
The Bank Nifty’s immediate support is at 33,600 and resistance is at 34,500 levels.
Stock Action
Today’s top gainers are Hindalco, Intellect Design, Vedanta, NALCO and Hindustan Copper.
Today’s top losers are Aurobindo Pharma, Escorts, Zydus Lifesciences, Cipla and Vodafone Idea.
Sector Update
All the major sectoral indices are trading in the green with Metal and Oil & Gas being the top gainers. Stocks like Hindalco, Vedanta, NALCO, ONGC and Reliance Industries 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 +0.4% to +0.9%. The US futures are also trading higher, up by 0.3%.
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