Index Action
Nifty50
The Nifty50 opened lower amid weak global cues and dipped below the 17,700 mark. However, it recovered from the day's low as banking and auto stocks offset some losses. At 12 pm today, it was trading 54 points lower at 17,753.
For April 7 options contracts, the Nifty50 has sizable positions at 18,000 and 17,800 call options and 17,600 and 17,700 put options. Further, additions were seen in 17,800 call options and 17,700 put options.
The Nifty50's immediate support is at 17,500 and resistance is at 18,100 levels.
Bank Nifty
The Bank Nifty slipped to 37,300 levels in the opening session but made a smart recovery and reclaimed the 37,900 mark. Except for HDFC Bank and IDFC First Bank, all the Bank Nifty stocks are trading in the green. At 12 pm today, it was trading 279 points higher at 37,912.
For April 7 options contracts, the Bank Nifty has sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options. Further additions were seen in 38,000 call options and 37,500 put options.
The Bank Nifty's immediate support is at 37,200 and resistance is at 38,400 levels.
Stock Action
Today’s top gainers are Bharat Electronics, Godrej Consumer, Piramal Enterprises, Metropolis and Dr. Lal Pathlabs.
Today’s top losers are IDFC, NALCO, Titan, HDFC and Hindalco.
Sector Update
The Realty and Banking sectors witnessed buying interest today. Stocks like DLF, Oberoi Realty, AU Small Finance Bank, Bandhan Bank and Axis Bank are trading in the green.
The Financial Services and IT sectors came under selling pressure today. Stocks like Bajaj Finserv, HDFC, HDFC AMC, Wipro and Coforge are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their Futures are trading flat to positive in the range of 0.02% to 0.1%. U.S. Futures are trading lower, down by 0.2%