Index Action
Nifty50
After a positive start, the Nifty50 witnessed a choppy session and was trading flat in the morning trade. Gains in oil & gas and metal stocks pushed the index higher, while IT and financial services stocks were the laggards for the second consecutive day. At 12 pm today, the Nifty50 was trading 56 points higher at 17,230.
For April 21 options contracts, the Nifty50 has sizable positions at 17,200 and 17,500 call options and 17,200 and 17,000 put options. Further, additions were seen in both 17,200 call options and put options.
The Nifty50's immediate support is at 16,800 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty was trading in a narrow range in the first session and oscillated between the red and green zones. With 9 out of the 12 bank stocks trading in green, the Bank Nifty's breadth remains positive. At 12 pm today, it was trading 90 points higher at 36,819.
For April 21 options contracts, the Bank Nifty has sizable positions at 37,000 and 37,500 call options and 36,500 and 36,000 put options. Further additions were seen in 37,000 call options and 36,500 put options.
The Bank Nifty's immediate support is at 36,000 and resistance is at 37,200 levels.
Stock Action
Today’s top gainers are Hindustan Copper, Apollo Hospitals, AU Small Finance Bank, HPCL and Balkrishna Industries.
Today’s top losers are Jubilant FoodWorks, HDFC, Chambal Fertilisers, HDFC Bank and RBL Bank.
Sector Update
The Oil & Gas and Metal indices witnessed buying interest today. Stocks like HPCL, Reliance Industries, Oil India, NMDC and NALCO are trading in the green.
The Financial Services and IT indices came under selling pressure today. Stocks like HDFC, SBI Life, ICICI Life, Infosys, and Mindtree are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their futures are trading flat to positive in the range of 0.02% to 0.2%. The U.S. futures are trading higher, up by 0.3%.