Index Action
Nifty50
Nifty50 opened on a flat note and saw selling pressure immediately in line with weak global cues. At 12 pm today, it was trading 120 points lower at 17,075.
For December 9 options contracts, Nifty50 has sizable positions at 17,500 and 17,400 call options and 17,000 and 17,100 put options. Further, additions were seen in 17,000 call options and 16,800 put options.
Nifty50 has immediate support at 16,800 and resistance at 17,600 levels.
Bank Nifty
Bank Nifty opened on a positive note and was trading steady till pressure from the broader markets dragged it in the red. At 12 pm today, it was trading 131 points lower at 36,066.
For December 9 options contracts, Bank Nifty has sizable positions at 37,000 and 36,500 call options and 36,000 and 35,500 put options. Further additions were seen at 36,500 call options and 36,000 put options.
Bank Nifty has immediate support at 35,600 and resistance at 36,900 levels.
Stock Action
Today’s top gainers are Vodafone Idea, Metropolis, Zee Entertainment, UPL and BHEL.
Today’s top losers are Coal India, PVR, GAIL, Syngene International and L&T Infotech.
Sector Update
Realty and Media have emerged as the leading sectors with buying interest today. Stocks like DLF, Godrej Properties, Oberoi Realty and PVR are trading in the green.
The IT and Auto sectors are seeing selling pressure today. Stocks like L&T Infotech, HCL Technologies, Coforge, Maruti Suzuki and M&M 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 -0.3% and +0.6%. US Futures are trading steadily in the green, up by nearly 0.5%.