Index Action
Nifty50
In a sharp rebound, the Nifty50 snapped its two days of losing streak and conquered the 17,000 mark. Broad-based buying across sectors pushed the index higher, with Auto, FMCG, and Realty being the top gainers. At 12 pm today, the Nifty50 was trading 221 points higher at 17,175.
For April 28 options contracts, the Nifty50 has sizable positions at 17,200 and 17,500 call options and 17,000 and 17,100 put options. Further, additions were seen in 17,200 call options and 17,000 put options.
The Nifty50's immediate support is at 16,800 and resistance is at 17,400 levels.
Bank Nifty
The Bank Nifty opened 433 points higher and is trading steadily above the 36,500 mark. With all 12 bank stocks trading in green, the overall breadth of the index is positive. At 12 pm today, it was trading 516 points higher at 36,598.
For April 28 options contracts, the Bank Nifty has sizable positions at 36,500 and 37,000 call options and 36,500 and 36,000 put options. Further additions were seen in 36,500 call options and 36,000 put options.
The Bank Nifty's immediate support is at 35,900 and resistance is at 37,000 levels.
Stock Action
Today’s top gainers are Chola Investments, Indiabulls Housing Finance, LIC Housing Finance, PEL and Ashok Leyland.
Today’s top losers are Intellect Design, Zydus Lifesciences, Polycab, Pfizer and ONGC.
Sector Update
All the Nifty sectoral indices are trading in green, with Auto and Realty being the top gainers. Stocks like Ashok Leyland, Hero MotoCorp, TVS Motor, Godrej Properties and DLF are trading in the green.
Global Markets Update
Major European markets are likely to open higher as their futures are trading in the range of +1.0% to +1.3%. The US futures are trading flat with a positive bias, up 0.05%.