Index Action
Nifty50
Due to mixed global and Asian cues, Nifty50 wiped out all morning gains and gave up more than 100 points from the day’s high. At 12 pm today, it was trading flat, 6 points lower at 17,395.
For December 9 options contracts, Nifty50 has sizable positions at 17,500 and 18,000 call options and 17,000 and 17,400 put options. Further, additions were seen in 17,600 call options and 17,400 put options.
Nifty50 has immediate support at 17,100 and resistance at 17,750 levels.
Bank Nifty
Bank Nifty continues its positive momentum from yesterday and is trading steadily in the green. At 12 pm today, it was trading 147 points higher at 36,656.
For December 9 options contracts, Bank Nifty has sizable positions at 37,000 and 37,500 call options and 36,500 and 36,000 put options. Further additions were seen at 37,000 call options and 36,500 put options.
Bank Nifty has immediate support at 35,600 and resistance at 37,200 levels.
Stock Action
Today’s top gainers are Indian Hotels, Deepak Nitrite, PVR, Chambal Fertilisers and NMDC.
Today’s top losers are IEX, Bharti Airtel, Dr. Lal Pathlabs, Apollo Hospitals and ICICI Lombard.
Sector Update
Media and Realty have emerged as the leading sectors with buying interest today. Stocks like PVR, Zee Entertainment, Oberoi Realty and Godrej Properties are trading in the green.
Pharma and FMCG sectors are seeing selling pressure today. Stocks like Dr. Reddy’s, Cipla, Sun Pharma, ITC and Nestle 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 -0.8% and +0.5%. US Futures have recovered and are trading in the green, up by almost 0.2%.