Index Action
Nifty50
Nifty50 surged over 100 points and remained steady and above the 17,000 mark in the afternoon trade. At 12 pm today, it was trading steadily in the green at 17,057 up by 101 points.
For December 23 options contracts, Nifty50 has sizable positions at 17,200 and 17,100 call options and 17,000 and 16,900 put options. Further, additions were seen in 17,100 call options and 17,000 put options.
Nifty50 has immediate support at 16,500 and resistance is at 17,300 levels.
Bank Nifty
Bank Nifty saw an immediate slide after opening higher. Since then, it has been trading in a tight range of around 35,200 levels. At 12 pm today, it was trading at 35,282 up by 190 points.
For December 23 options contracts, Bank Nifty has sizable positions at 35,200 and 35,300 call options and 35,000 and 35,200 put options. Further additions were seen at 35,200 call options and 35,000 put options.
Bank Nifty has immediate support at 34,200 and resistance is at 35,700 levels.
Stock Action
Today’s top gainers are FSL, L&T Finance, Chola Investments, Jubilant Foodworks and LIC Housing Finance.
Today’s top losers are Divis Labs, L&T Infotech, MCX India, JK Cement and JSW Steel.
Sector Update
Realty and PSU Banks have emerged as the leading sectors with buying interest today. Stocks like Oberoi Realty, DLF, Godrej Properties, Bank of Baroda and SBI 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 0.04% to 1.5%. US Futures are trading flat with a positive bias, up by nearly 0.05%.