Index Action
Nifty50
Amid mixed global cues, the Nifty opened higher but immediately pared its opening gains and slipped into the red. Losses in FMCG and pharma stocks offset the gains of financials and select oil & gas stocks. At 12 pm today, it was trading 34 points lower at 17,188.
For March 31 options contracts, the Nifty50 has sizable positions at 17,500 and 17,200 call options and 17,000 and 17,200 put options. Further additions were seen in both 17,200 call options and put options.
The Nifty50's immediate support is at 16,900 and resistance is at 17,500 levels.
Bank Nifty
The Bank Nifty fell sharply from the opening highs of 35,717 and erased all its gains. Its breadth is slightly in favour of advances, and at 12 pm, it was trading 52 points lower at 35,474.
For March 31 options contracts, the Bank Nifty has sizable positions at 36,000 and 37,000 call options and 35,500 and 35,000 put options. Further additions were seen in both 35,500 call options and put options.
The Bank Nifty's immediate support is at 35,000 and resistance is at 36,200 levels.
Stock Action
Today’s top gainers are ConCor, L&T Finance, Indian Hotels, Indigo and PVR.
Today’s top losers are Titan, Balrampur Chini, IGL, Muthoot Finance and Astral.
Sector Update
Media and Realty sectors witnessed buying interest today. Stocks like Sun TV, PVR, Godrej Properties, DLF and Oberoi Realty are trading in the green.
FMCG and Pharma sectors came under selling pressure today. Stocks like Tata Consumer, Godrej Consumer, Nestle, Cipla and Lupin 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 -0.1% to +0.1%. US Futures are trading higher, up by 0.1%.