Index Action
Nifty50
After two days of sharp decline, Nifty50 has rebounded today on a positive note tracking gains from the Asian Markets. At 12 pm today, it was trading 300 points higher at 16,914.
For December 23 options contracts, Nifty50 has sizable positions at 17,000 and 17,200 call options and 16,700 and 16,800 put options. Further, additions were seen in 16,900 call options and 16,700 put options.
Nifty50 has immediate support at 16,400 and resistance is at 17,200 levels.
Bank Nifty
Bank Nifty saw a dip early in the trade but is now trading firmly in the green around 35,000 levels. At 12 pm today, it was trading 527 points higher at 34,967.
For December 23 options contracts, Bank Nifty has sizable positions at 36,000 and 35,000 call options and 34,500 and 34,000 put options. Further additions were seen at both 35,200 call and 34,500 put options.
Bank Nifty has immediate support at 33,800 and resistance is at 35,700 levels.
Stock Action
Today’s top gainers are Vodafone-Idea, Indus Towers, Godrej Consumer, Zee Entertainment and Dalmia Bharat.
Today’s top losers are Power Grid, Alembic Pharma, Balkrishna Industries and Cipla.
Sector Update
Among Nifty sectoral indices, Metal and Media followed by Realty, have emerged as the leading sectors with buying interest. Stocks like NALCO, Tata Steel, Zee Entertainment, PVR and DLF are trading in the green.
No major sectoral indices are trading in the red so far.
Global Markets Update
Major European markets are likely to open in the green as their futures are trading in the range of 0.3% to 1.2%. US Futures are also trading in the green, up by nearly 0.8%.