Indian indices at record high; CHOLAFIN 540 CE becomes top gainer with whopping four-fold gains!

Indian markets started off the week with a gap-up with Nifty and Sensex registering a fresh all-time high during Monday’s early morning trading session.  

Today, Sensex was trading above the 52,000 mark for the first time ever after crossing the milestone of 51,000 on February 5. Within just seven trading sessions, it crossed yet another milestone of 52,000 on February 15. On the other hand, Nifty was trading above the 15,300 mark.   

At around 1.30 pm today, Nifty was up by 147 points while Sensex jumped more than 570 points. The broader markets were also trading in green with Nifty Mid-cap and Small-cap adding 1.32 per cent and 0.66 per cent, respectively.  

Nifty is trading above the 15,300 mark while an immediate resistance & support can be seen around 15,500 and 15,200 levels, respectively. The broad put addition of February 18 series can be seen in Nifty from 15,000-15,300 level. In 15,200 and 15,300 PE option, the open interest (OI) has increased more than 20 lakh shares.   

WPI data, which was released today, quickens to 2.03 per cent in January 2021 as compared to 1.22 per cent in December 2020 on the back of higher fuel prices.   

Barring Nifty Media and Nifty IT, all other sectoral indices on NSE traded in the green. Nifty Private Bank, Nifty Realty, Nifty Financial Services, and Nifty Bank were up by more than 2 per cent each. Interestingly, the top five gainers on Nifty 50 belonged to the banking sector with HDFC Bank and ICICI Bank leading from the front. Over 20 stocks from Nifty 500 have logged a fresh all-time high in today’s session, which includes names such as Adani Total Gas Ltd (ATGL), Adani Transmission, Deepak Nitrite, Apollo Hospitals & CDSL, etc.   

Bank Nifty index has touched a fresh record high of 36,947.55, surpassing its previous record high of 36,615 seen on February 5. Besides, last week, Bank Nifty mostly traded in the high-low range of February 5. Moreover, with a fresh breakout witnessed in today’s session, it’s expected that the index could test the levels of 37,500-37,800 in the near term. The price action in financial stocks is certainly the talk of the town and one stock, which is certainly on cloud 9, is Cholamandalam Investment & Finance Company as following strikes of February series 500-520-530-540 on CE options side has gained between 290 per cent and 430 per cent. Further, LIC Housing Finance 470 & 460 Feb CE options have gained 136 per cent and 123 per cent, respectively. M&M Financial 215 Feb CE option has also jumped more than 100 per cent.