Index Action
Nifty50
Nifty50 is seeing follow through buying after yesterday’s positive close. However, it continues to face resistance around 16,900 levels. At 12 pm today, it was trading 120 points higher at 16,890.
For December 23 options contracts, Nifty50 has sizable positions at 17,000 and 17,200 call options and 16,800 and 16,700 put options. Further, additions were seen in 16,900 call options and 16,800 put options.
Nifty50 has immediate support at 16,400 and resistance is at 17,200 levels.
Bank Nifty
Bank Nifty had a positive start and is trading steadily in the green. However, it is failing to sustain itself above the 35,000 mark. At 12 pm today, it was trading 312 points higher at 34,920.
For December 23 options contracts, Bank Nifty has sizable positions at 35,000 and 36,000 call options and 34,500 and 34,000 put options. Further additions were seen at 35,000 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 GMR Infra, India Cements, SRF, MCX India and NALCO.
Today’s top losers are Apollo Hospital, Wipro, IOC, SBI Life and M&M Financial.
Sector Update
Among Nifty sectoral indices, Realty, Media and Metal have emerged as the leading sectors with buying interest today. Stocks like Oberoi Realty, Godrej Properties, PVR, Sun TV and NALCO are trading in the green.
No major sectoral index is trading in the red so far.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading flat to positive in the range of -0.05% to +1.8%. US Futures are also trading in the green, up by nearly 1.3%.
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