Tracking positive Asian cues, the Nifty50 opened higher and crossed the 16,200-mark. All the sectors logged strong gains, with Metal, Pharma and Auto leading the charge. At 12 pm, the Nifty50 Index was trading 358 higher at 16,167.
For May 26 options contracts, the Nifty50 has sizable positions at 16,300 and 16,500 call options and 16,000 and 15,800 put options. Further, additions were seen in 16,200 call options and 16,000 put options.
The Nifty50’s immediate support is at 15,900 and resistance is at 16,300 levels.
The Bank Nifty also witnessed a positive opening and reclaimed the 34,000-mark. Barring Bandhan Bank, all the other 11 stocks of the banking index are trading in green. At 12 pm, the Bank Nifty was trading 749 points higher at 34,064.
For May 26 options contracts, the Bank Nifty has sizable positions at 34,000 and 35,000 call options and 34,000 and 33,000 put options. Further additions were seen in 34,000 call options and 33,500 put options.
The Bank Nifty’s immediate support is at 33,600 and resistance is at 34,700 levels.
Today’s top gainers are Granules, Dr. Reddy’s, Hindustan Copper, GNFC and Sun TV.
Today’s top losers are Godrej Consumer, Zydus Lifesciences, Pidilite, Manappuram and PI Industries.
All the major sectoral indices are trading in the green, with Realty, Metal and Pharma being the top gainers. Stocks like DLF, Hindustan Copper, JSW Steel, Granules and Dr. Reddy’s are trading in the green.
Global Markets Update
Major European markets are likely to open higher as their futures are trading positive in the range of 0.7% to 1% higher. The US futures are also trading higher, up by 0.5%.