Index Action
Nifty50
The Nifty50 recovered partially from the day's low amid a volatile session. With gains in select banking and metal stocks, it holds the 17000 mark. At 12 pm today, it was trading 92 points lower at 17,056.
For January 27 options contracts, the Nifty50 has sizable positions at 17,500 and 17,600 call options and 17,000 and 16,900 put options. Further, additions were seen in both 17,200 call options and 16,900 put options.
The Nifty50 has immediate support at 16,800 and resistance at 17,500 levels.
Bank Nifty
The Bank Nifty erased opening losses and bounced back into the positive territory. It reclaimed the 37,000 mark and at 12 pm was trading 209 points higher at 37,156.
For January 27 options contracts, the Bank Nifty has sizable positions at 38,000 and 37,500 call options and 37,000 and 36,500 put options. Further additions were seen at 37,500 call and 37,000 put options.
The Bank Nifty has immediate support at 36,200 and resistance is at 37,600 levels.
Stock Action
Today’s top gainers are Federal Bank, Axis Bank, Zee Entertainment, PVR and Canara Bank.
Today’s top losers are Indiamart, Ramco Cements, Deepak Nitrite, Godrej Properties and Trent.
Sector Update
The PSU Banks and Metal emerged as the leading sectors with buying interest today. Stocks like Canara Bank, Bank of Baroda, SBI, NALCO and JSW Steel are trading in the green.
The Realty and IT sectors came under selling pressure today. Stocks like Godrej properties, Oberoi Realty, Mindtree, Wipro and Infosys 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 -1.2% to +0.8%. US Futures are trading in the red, down by nearly 0.6%.