Index Action
Nifty50
Nifty50 is witnessing strong momentum today and a steady rise to 17,300 level. At 12 pm today, it was trading 127 points higher at 17,294.
For December 2 options contracts, 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.
Nifty50 has immediate support at 16,800 and resistance at 17,400 levels.
Bank Nifty
Bank Nifty had a choppy start but saw buying interest return and moved higher to the crucial 36,500 levels where minor profit-booking was witnessed. At 12 pm today, it was trading flat, just 4 points higher at 36,369
For December 2 options contracts, Bank Nifty has sizable positions at 37,000 and 36,500 call options and 36,000 and 36,300 put options. Further additions were seen at 36,700 call options and 36,300 put options.
Bank Nifty has immediate support at 35,900 and resistance at 36,700 levels.
Stock Action
Today’s top gainers are GMR Infra, Power Grid, Dr. Lal Pathlabs, HDFC and Sun Pharma.
Today’s top losers are Vedanta, Ashok Leyland, Godrej Consumer, IEX and Biocon.
Sector Update
Financial Services and Pharma have emerged as the leading sectors with buying interest today. Stocks like HDFC, ICICI Prudential, SBI Life, Sun Pharma and Cadila Healthcare are trading in the green.
The Realty sector is seeing selling pressure today. Stocks like DLF and Godrej Properties 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 -1.1% and +0.1%. US Futures have recovered and are trading in the green, up by almost 0.7%.