Index Action
Nifty50
After a mildly positive start, the Nifty50 slipped into the red on the back of negative cues from the Asian markets. Barring Oil & Gas and Metal, all major sectors are trading in the red. At 12 pm today, the Nifty50 was trading 126 points lower at 17,026.
For March 24 options contracts, the Nifty50 has sizable positions at 17,200 and 17,500 call options and 17,000 and 16,800 put options. Further additions were seen in 17,200 call and 17,000 put options.
The Nifty50's immediate support is at 16,700 and resistance is at 17,400 levels.
Bank Nifty
The Bank Nifty also came under selling pressure and fell to 35,000 levels. With 10 out of 12 banks stocks trading in red, the breadth was in favour of bears. At 12 pm today, it was trading 275 points lower at 35,134.
For March 24 options contracts, the Bank Nifty has sizable positions at 36,000 and 35,500 call options and 34,000 and 35,000 put options. Further additions were seen in 35,500 call and 35,000 put options.
The Bank Nifty's immediate support is at 34,700 and resistance is at 36,000 levels.
Stock Action
Top gainers: PVR, Indus Towers, GNFC, L&T Finance and Chambal Fertilisers.
Top losers: ConCor, ICICI Prudential, Polycab, IDFC First Bank and BHEL.
Sector Update
Among sectors, the Oil & Gas and Metal indices saw buying interest. Stocks like GAIL, Reliance Industries, Hindalco, NMDC and JSW Steel are trading in the green.
The Financial Services and Realty sectors came under selling pressure. Stocks like ICICI Prudential, SBI Life, HDFC, DLF and Godrej Properties are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their Futures are trading in the range of -0.4% to -0.3%. U.S Futures are trading lower, down by 0.4%.