Index Action
Nifty50
Nifty50 opened lower and began the session deep in the red amid renewed concerns of omicron on the global economy. Mild attempts at recovery were also sold into. At 12 pm today, it was trading 424 points lower at 16,561.
For December 23 options contracts, Nifty50 has sizable positions at 17,000 and 17,200 call options and 16,500 and 16,000 put options. Further, additions were seen in 16,800 call options and 16,500 put options.
Nifty50 has immediate support at 16,200 and resistance is at 16,900 levels.
Bank Nifty
Bank Nifty continues to be among the hard-hit indices as it tanked over 1,300 points in the first session of trade today. At 12 pm today, it was trading 1,281 points lower at 34,336.
For December 23 options contracts, Bank Nifty has sizable positions at 34,500 and 35,000 call options and 34,000 and 34,500 put options. Further additions were seen at both 34,500 call and put options.
Bank Nifty has immediate support at 33,800 and resistance is at 35,700 levels.
Stock Action
Today’s top gainers are Cipla, Escorts and Dr.Reddy’s.
Today’s top losers are Au Small Finance Bank, FSL, Bandhan Bank, L&T Technology and Astral.
Sector Update
No major index is trading in the green today.
Realty and Banking sectors, followed by Media, are seeing selling pressure today. Stocks like Oberoi Realty, Godrej Properties, Au Small Finance Bank, Bandhan Bank and Sun TV are trading in the red.
Global Markets Update
Major European markets are likely to open in the red as their futures are trading in the range of -1.6% to -1%. US Futures are also trading in the red, down by nearly 1%.