Index Action
Nifty50
Amid mixed cues from the global markets, the Nifty50 opened marginally higher but slipped into the red to 16,900 levels. Except Realty, all the other Nifty sectoral indices are trading in red, with Pharma and Metals losing the most. At 12 pm, the Nifty50 was trading 136 points lower at 16,932.
For May 5 options contracts, the Nifty50 has sizable positions at 17,100 and 17,000 call options and 17,000 and 16,800 put options. Further additions were seen in 17,100 call options and 16,800 put options.
The Nifty50’s immediate support is at 16,700 and resistance is at 17,300 levels.
Bank Nifty
After a positive start, the Bank Nifty briefly slipped below the 36,000 mark and staged a recovery of 150 points from lower levels. With PSU banks outperforming their private peers, the Bank Nifty was trading 94 points lower at 36,069.
For May 5 options contracts, the Bank Nifty has sizable positions at 36,500 and 36,200 call options and 35,500 and 35,000 put options. Further additions were seen in 36,200 call options and 35,500 put options.
The Bank Nifty’s immediate support is at 35,400 and resistance is at 36,600 levels.
Stock Action
Today’s top gainers are Rain Industries, Britannia, IDFC First Bank, M&M Financial and RBL Bank.
Today’s top losers are Alembic Pharma, Info Edge, Metropolis, Apollo Hospitals and Voltas.
Sector Update
The Realty sector witnessed buying interest today. Stocks like Phoenix Mills* and Macrotech Developers* are trading in green.
The Pharma and Metal sectors came under selling pressure today. Stocks like Alembic Pharma, Dr. Reddy’s, NALCO, Hindalco and Vedanta are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading flat to positive in the range of -0.02% to +0.2%. The US futures are trading positive, up by 0.1%.
*Not listed in F&O