Index Action
Nifty50
Amid mixed global cues, the Nifty50 started the day on a positive note. Gains in Pharma and IT stocks pushed the index higher, while Metal and Private Banks dragged it lower. At 12 pm today, it was trading 177 points higher at 16,191.
For March 10 options contracts, the Nifty50 has sizable positions at 16,200 and 16,300 call options and 16,000 and 15,800 put options. Further, additions were seen in 16,200 call options and 16,000 put options.
The Nifty50's immediate support is at 15,600 and resistance is at 16,500 levels.
Bank Nifty
The Bank Nifty opened higher but slipped into the red and is trading in a tight range so far. With 11 out of 12 stocks trading in the green, the Bank Nifty was trading 15 points lower at 33,142 (12 pm).
For March 10 options contracts, the Bank Nifty has sizable positions at 33,500 and 34,000 call options and 33,000 and 32,000 put options. Further additions were seen in 33,200 call options and 33,000 put options.
The Bank Nifty's immediate support is at 32,400 and resistance is at 34,200 levels.
Stock Action
Today’s top gainers are Indigo, Dr. Lal Pathlabs, Zee Entertainment, Trent and Zydus Lifesciences.
Today’s top losers are Bosch, Petronet LNG, Hindustan Copper, Coforge and Gujarat Gas.
Sector Update
Among the sectors, the Pharma and IT indices saw buying interest. Stocks like Zydus Lifesciences, Lupin, Dr. Reddy's, Mindtree and Infosys are trading in the green.
The Metal sector came under selling pressure. Stocks like Vedanta, Hindustan Copper, JSW Steel and Tata Steel are trading in the red.
Global Markets Update
Major European markets are likely to open higher as their Futures are trading positive, up by nearly 1.4%. US Futures are also trading higher, up by 0.4%.
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