Index Action
Nifty50
Nifty50 continued its march towards 18,000 with a gap up opening and touched a new lifetime high of 17,947. Some profit-booking was witnessed at higher levels and the Nifty50 is now trading at 17,868 up by 45 points.
18,000 and 18,500 call options have further added to their open interest base indicating resistance at these levels. Put options base has shifted from 17,500 to 17,700 and 17,800 strikes, while the 17,000 put option continues to hold the highest base.
PCR-OI of Nifty50 options now indicates immediate support at 17,700 and resistance at 18,200 levels.
Bank Nifty
Bank Nifty, after yesterday’s stellar run is witnessing a choppy session today. At the time of writing this, the Bank Nifty was in the red, down by just 20 points at 37750 levels.
Monthly call options have the highest base at 38,000 while the 38,500 strike has seen a significant addition in the day so far. Put options continue to add to the already significant positions at 37,000 and 37,500 strikes.
PCR-OI indicates support at 17,400 and resistance at 38,200.
Global Markets Update
Major European markets have opened in the red to the tune of 0.5%. US Futures are also trading negative, with the Dow Futures trading down 65 points.
Stock Action: (Top Gainers and Top Losers in Futures segment)
Today’s top gainers are Indus Towers, Vodafone Idea, Tata Chemicals, GMR Infra and Asian Paints.
Today’s top losers are Apollo Hospital, Alembic Pharma, Tata Steel, Dr.Lal PathLab and PVR.
Sector Update: (Top gainer sectors and Top Loser sectors)
The realty sector is up again today by 3% followed by the IT and Auto sectors. Godrej Properties, L&T Infotech, Mphasis and Maruti Suzuki are the leading stocks in these sectors.
PSU Banks, Metals and Pharma stocks are in the red today with stocks like Canara Bank, SBI, JSW Steel, Adani Enterprises and HUL trading down.