Index Action
Nifty50
After hitting an intraday high of 18,350, the Nifty50 was trading lower amid volatility. Auto stocks came under profit-booking and IT stocks slipped further. At 12 pm today, it was trading 48 points lower at 18,260.
For January 20 options contracts, Nifty50 has sizable positions at 18,300 and 18,400 call options and 18,000 and 18,200 put options. Further, additions were seen in both 18,300 call options and 18,100 put options.
The Nifty50 has immediate support at 17,900 and resistance is at 18,500 levels.
Bank Nifty
The Bank Nifty is upbeat today as it rebounded to trade near day’s high. At 12 pm today, it was trading 226 points higher at 38,442.
For January 20 options contracts, the Bank Nifty has sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options. Further additions were seen at 38,500 call options and 38,400 put options.
The Bank Nifty has immediate support at 37,800 and resistance is at 39,000 levels.
Stock Action
Today’s top gainers are Chola Investments, Godrej Consumer, Indiabulls Housing Finance, Axis Bank and HAL.
Today’s top losers are Apollo Hospitals, Ambuja Cements, India Cements, Eicher Motors and ACC.
Sector Update
Realty and Banking emerged as the leading sectors with buying interest today. Stocks like DLF, Axis Bank, Au Small Finance Bank and HDFC Bank are trading in the green.
Auto and IT sectors came under selling pressure today. Stocks like Eicher Motors, Maruti Suzuki, Bajaj Auto, Tech Mahindra and Coforge 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 -0.2% to +0.4%. US Futures are trading lower, down nearly 0.2%.