Index Action
Nifty50
The Nifty50 is trading flat and is moving within a narrow range. Profit-booking in Banking and Auto stocks pulled the index lower. At 12 pm today, it was trading 13 points lower at 17,546.
For February 10 options contracts, the Nifty50 has sizable positions at 17,800 and 18,000 call options and 17,500 and 17,600 put options. Further, additions were seen in both 17,600 call options and 17,400 put options.
The Nifty50 has immediate support at 17,200 and resistance is at 18,000 levels.
Bank Nifty
After a volatile start, the Bank Nifty slipped lower in the first half of the trading session. With 10 out of 12 stocks trading in red, the breadth of the banking stocks remained negative. At 12 pm today, it was trading 188 points lower at 38,821.
For February 10 options contracts, the Bank Nifty has sizable positions at 39,000 and 39,500 call options and 39,000 and 38,000 put options. Further additions were seen at 39,000 call and 38,500 put options.
The Bank Nifty has immediate support at 38,200 and resistance is at 39,800 levels.
Stock Action
Today’s top gainers are Torrent Power, Vedanta, Hindustan Copper, JSPL and Apollo Hospital.
Today’s top losers are Godrej Properties, M&M Financial, Zee Entertainment, Lupin and Pfizer.
Sector Update
Metal and IT emerged as the leading sectors with buying interest today. Stocks like Vedanta, Hindustan Copper, JSPL, Mindtree and Mphasis are trading in the green.
The Realty and Media sectors came under selling pressure. Stocks like Godrej Properties, DLF, Zee Entertainment and Sun TV 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 -2.0% to +0.6%. The US Futures recovered from the day’s low and is trading 0.5% higher.