Index Action:
Nifty50
Nifty50 once again faced resistance in crossing the 18,000-mark. It slipped into the negative zone, took support at 17,800 and bounced back. It is trading flat 17,857, just 3 points higher.
The September series call option saw a big build-up at 17,900 and 18,000 strikes today and the put options saw additions at 17,800 and 17,700 levels.
The highest base, in this series, for call options is at 18,000 whereas for put options it is at 17,000. This indicates the broad levels for Nifty50.
PCR-OI data suggests immediate resistance at 18,000 and support at 17,600 levels.
This is the expiry week for the September series contracts.
Bank Nifty
Bank Nifty picked up from its stellar run of the last week and hit a new high of 38,355. It is trading 300 points plus at 38,130 levels.
The September series call option saw further additions at 38,500 and 39,000 levels and the put options saw additions at 38,000 and 37,500 strikes.
The highest base, in this series, for call options is at 38,500 whereas for put options it is at 38,000.
PCR-OI indicates an upward shift in support and resistance levels at 37,800 and 38,500 respectively.
Global Markets Update
Major European markets have opened positive in the range of 0.5% to 1%. US Futures are also trading positive, with the Dow Futures trading up by 200 points.
Stock Action: (Top Gainers and Top Losers in Futures segment)
Today’s top gainers are Indian Hotels, PVR, Tata Motors, Maruti Suzuki and Indiabulls Hsg.
Today’s top losers are Apollo Hospital, Coforge, Mindtree, Mphasis and United Breweries.
Sector Update: (Top gainer sectors and Top Loser sectors)
The realty sector continues to strengthen its gains of last week followed by the Auto sector today. Godrej Properties, Tata Motors, Maruti Suzuki and Hero Motocorp are some of the leading stocks in these sectors today.
IT and Pharma are witnessing profit-booking today and are in the red. Coforge, Mphasis, Divis Lab and Cipla are the stocks trading in the red in these sectors today.