Index Action
Nifty50
Tracking positive global cues and falling crude oil prices, the Nifty50 opened higher and crossed the 17,100 mark. Gains in auto, IT, and pharma stocks pushed the index higher, and at 12 pm the Nifty50 was trading 108 points higher at 17,066.
For April 21 options contracts, the Nifty50 has sizable positions at 17,200 and 17,300 call options and 17,000 and 17,100 put options. Further, additions were seen in 17,200 call options and 17,000 put options.
The Nifty50's immediate support is at 16,700 and resistance is at 17,400 levels.
Bank Nifty
The Bank Nifty started the session on a strong note and inched towards the 36,500 mark. However, the profit-booking at higher levels dragged the index down. At 12 pm today, it was trading 77 points lower at 36,264.
For April 21 options contracts, the Bank Nifty has sizable positions at 37,000 and 36,500 call options and 36,500 and 36,000 put options. Further additions were seen in 37,000 call options and 36,000 put options.
The Bank Nifty's immediate support is at 35,800 and resistance is at 37,000 levels.
Stock Action
Today’s top gainers are ACC, Metropolis, Astral, Biocon and Dr. Lal Pathlabs.
Today’s top losers are Larsen & Toubro Infotech, Persistent, Indian Hotels, GAIL and Bajaj Finance.
Sector Update
The Auto and IT indices witnessed buying interest. Stocks like Maruti Suzuki, Tata Motors, Eicher Motors, TCS and Mphasis are trading in the green.
The Financial Services and Banking indices came under selling pressure. Stocks like Bajaj Finance, Chola Investment, ICICI Bank, SBI and Axis Bank 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 0.06% to 0.4%. The U.S. futures are trading lower, down by 0.2%.
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