Index Action
Nifty50
After three days of an upswing, the Nifty50 opened lower and succumbed to negative territory. Weakness in Financial and IT stocks pulled the index lower, though gains in auto shares supported the market. At 12 pm today, it was trading 129 points lower at 17,650.
For February 3 options contracts, the Nifty50 has sizable positions at 17,800 and 18,000 call options and 17,600 and 17,500 put options. Further, additions were seen in both 17,800 call options and 17,600 put options.
The Nifty50 has immediate support at 17,200 and resistance at 18,000 levels.
Bank Nifty
The Bank Nifty opened lower and slipped further during the first half of the trading session. However, it is still holding the psychological mark of 39,000. At 12 pm today, it was trading 158 points lower at 39,171.
For February 3 options contracts, the Bank Nifty has sizable positions at 39,500 and 39,300 call options and 39,000 and 38,500 put options. Further additions were seen at 39,000 call and 38,800 put options.
The Bank Nifty has immediate support at 38,200 and resistance is at 39,900 levels.
Stock Action
Today’s top gainers are TVS Motor, Hero Motocorp, GSPL, Bandhan Bank and Bajaj Auto.
Today’s top losers are M&M Financial, MCX India, Muthoot Finance, HDFC and Navin Fluorine.
Sector Update
Auto and Metal sectors emerged as the leading sectors with buying interest today. Stocks like TVS Motor, Hero Motocorp, Tube Investments, NMDC and Vedanta are trading in the green.
The Financial Services and Energy sectors came under selling pressure. Stocks like HDFC, SBI Life, IndusInd Bank, NTPC and Reliance Industries 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 -0.2% to +0.4%. US Futures are trading in the red, down by 0.1%.