Index Action
Nifty50
Tracking mixed global cues, the Nifty50 pared its opening gains in the first hour of the session and fell to 17,600. Losses in IT and financial services stocks dragged the index lower, while metal and oil & gas stocks lent support. At 12 pm today, it was trading 54 points higher at 17,693.
For April 13 options contracts, the Nifty50 has sizable positions at 18,000 and 17,900 call options and 17,500 and 17,600 put options. Further additions were seen in 17,900 call options and 17,500 put options.
The Nifty50's immediate support is at 17,400 and resistance is at 18,000 levels.
Bank Nifty
The Bank Nifty shot up to 37,800 levels as RBI’s Monetary Policy Committee (MPC) voted to keep the key interest rates unchanged. With 9 out of 12 bank stocks trading in the green, the Bank Nifty was trading 45 points higher at 37,603.
For April 13 options contracts, the Bank Nifty has sizable positions at 38,500 and 38,000 call options and 37,500 and 37,000 put options. Further additions were seen in both 37,500 call options and put options.
The Bank Nifty's immediate support is at 37,100 and resistance is at 38,100 levels.
Stock Action
Today’s top gainers are Chola Investments, Godrej Consumer, Grasim, Bandhan Bank and Ambuja Cements
Today’s top losers are RBL Bank, Cipla, L&T Technology Services, Indiabulls Housing Finance and Trent.
Sector Update
The Metal & Oil & Gas sectors witnessed buying interest today. Stocks like JSW Steel, SAIL, Vedanta, HPCL and Gujarat Gas are trading in the green.
The IT and Financial Services sectors came under selling pressure today. Stocks like L&T Technology Services, LTI, Tech Mahindra, PEL and HDFC are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their Futures are trading in the range of 0.2% to 1%. U.S. Futures are trading higher, up by 0.2%.