Index Action
Nifty50
The Nifty50 surged in the opening trade amid positive global cues. Gains across sectors pushed the index higher, with IT and Financial being the top gainers. At 12 pm today, it was trading 141 points higher at 17,408.
For February 10 options contracts, the Nifty50 has sizable positions at 17,500 and 17,600 call options and 17,000 and 17,400 put options. Further, additions were seen in both 17,400 call and put options.
The Nifty50’s immediate support is at 16,900 and resistance is at 17,800 levels.
Bank Nifty
The Bank Nifty zoomed past the 38,500 mark in the opening session but has softened a bit. The overall breadth of the banking stocks remains positive, and heavyweight private banks are pushing the index higher. At 12 pm today, it was trading 394 points higher at 38,422.
For February 10 options contracts, the Bank Nifty has sizable positions at 38,500 and 39,000 call options and 37,500 and 37,000 put options. Further additions were seen at 38,000 call and 37,500 put options.
The Bank Nifty’s immediate support is at 37,500 and resistance is at 38,900 levels.
Stock Action
Today’s top gainers are Indiamart, Rain Industries, Sun TV, L&T Technology and Coal India.
Today’s top losers are Mahanagar Gas Ltd, Godrej Consumer, Bank of Baroda, IEX and Jindal Steel and Power.
Sector Update
Auto and IT emerged as the leading sectors with buying interest today. Stocks like Maruti Suzuki, Ashok Leyland, Bharat Forge, Coforge and Mindtree are trading in the green.
The PSU Banks and FMCG sector came under selling pressure today. Stocks like Bank of Baroda, Canara Bank, PNB, DLF, Godrej Consumer and ITC 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 0.4% to 0.8%. The US Futures too are trading higher, up by nearly 0.3%.