Index Action
Nifty50
Nifty50 opened negative in line with the global cues and has recovered from the day’s lows. It is trading 85 points down at 17,660 levels.
With only two trading sessions to go in the September series, the highest call option base is still at 18,000 followed by 17,900. For put options, the highest base is still at 17,000 followed by 17,500 and 17,600 strikes.
PCR-OI data suggests immediate resistance at 18,000 and support at 17,600 levels.
Bank Nifty
Bank Nifty continues to be under pressure today and is trading down by 315 points at 37,630 levels.
The highest call option base for the September series is at 38,000 followed by 39,000 and even the 38,500 strike is seeing further additions today. For put options, the highest base continues to be at 37,500 followed by 37,000.
PCR-OI data suggests immediate resistance at 38,500 and support at 37,300 levels.
Global Markets Update
Major European markets have opened positive in the range of 0.5% to 0.8% US Futures are trading in the green, with the Dow Futures trading up by 150 points.
Stock Action (Top Gainers and Top Losers in Futures segment)
Today’s top gainers are Coal India, Tata Power, IEX, Godrej Properties and GMR Infra.
Today’s top losers are HDFC AMC, Info Edge, Godrej Consumer, BEL and Metropolis.
Sector Update: (Top gainer sectors and Top Loser sectors)
PSU Bank and Metals are again in the green today with stocks like Canara Bank, Bank of Baroda, SBI, Coal India and NALCO trading higher.
Financial Services and Banks are under pressure today followed by the Consumption sector. Stocks like HDFC AMC, Kotak Mahindra Bank, ICICI Bank, Info Edge and Godrej Consumer Products are trading lower.