Index Action
Nifty50
Despite positive global cues, Nifty50 started on a muted note and has stayed below 17,000 mark. At 12 pm, it was trading 101 points lower at 16,971.
For December 30 options contracts, Nifty50 has sizable positions at 17,000 and 17,200 call options and 17,000 and 16,500 put options. Further, additions were seen in both 17,000 call options and put options.
Nifty50 has immediate support at 16,500 and resistance is at 17,300 levels.
Bank Nifty
Bank Nifty fell sharply in the opening session and took support at 34,600 levels. Amid selling pressure, it is trading 458 points lower at 34,732.
For December 30 options contracts, Bank Nifty has sizable positions at 35,000 and 35,500 call options and 34,000 and 34,500 put options. Further additions were seen at 35,000 call options and 34,500 put options.
Bank Nifty has immediate support at 34,200 and resistance is at 35,600 levels.
Stock Action
Today’s top gainers are SBI Life Insurance, HCL Tech, FSL, Dixon Technologies and Balkrishna Industries.
Today’s top losers are L&T Finance, Biocon, Shriram Transport Finance, NALCO and M&M Financial.
Sector Update
All Nifty sectoral indices are trading in the red, barring IT. Stocks like HCL Technologies, L&T Infotech, Tech Mahindra and Coforge are trading in the green.
PSU banks and Realty sector came under selling pressure. Stocks like Canara Bank, Bank of Baroda, PNB, Godrej Properties and Oberoi Realty are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading in the range of -0.3% to 1.2%. US Futures are trading firmly in the green, up by nearly 0.6%.