US President Donald Trump said that any pause or halt in military action with Iran is conditional. If diplomatic talks fail to produce a deal, he expects hostilities to start again. The 10-day halt to the Israel-Lebanon fighting that began can be extended if there’s progress in talks to reach a lasting peace agreement and Lebanon “effectively demonstrates its ability to assert its sovereignty,” the US State Department said.
Trump warns fighting will resume if no deal; Israel-Lebanon ceasefire begins- Daily Market Update 17th April 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to positive note.
- European equity markets ended on a flat note.
- Majority of Asian equity markets are trading in red.
- GIFT Nifty is little changed, Nifty futures likely to open around 24180 levels.
The benchmark Nifty index opened with a gap up but failed to hold those levels, retreating after encountering resistance near the 24350–24400 price and gap resistance zone. It settled on a slightly negative note at 24196 spot levels, down just 35 points from its previous closing values.
The broader markets outperformed the benchmark as Mid and Small cap indices gained 0.63% & 0.89% respectively. Performance on the sectoral front was mix and muted. Amongst them, Nifty Metal index was the top performer, rose 1.53% followed by IT index that gained 0.88%.
Going ahead, we reiterate our buy on dips trading approach with a cautiously bullish stance on Nifty index, provided the index remains above 23550 spot levels on closing basis. A decisive close above 24400 spot levels could lead it towards 24650-24800 spot levels in near the term.
Derivatives Overview & Outlook
Yesterday, Finnifty futures added around 8% of open interest as a long buildup, whereas some short covering was seen in Midcapnifty futures that shed 1.6% of open interest. On the other hand, no significant changes were observed among Nifty and Banknifty on price front.
Majority of F&O sectors settled on a positive note. Amongst them, long buildup was seen among Capital Goods, FMCG, Power and Technology stocks along with some short covering among Cement, Chemical and Realty stocks.
On option front, put writing along with some call addition was seen at multiple strikes. Maximum positions are at 25000 CE followed by 24800 CE and 23000 PE followed by 23500 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 382 Cr in the cash segment, sold stocks futures worth Rs 1643 Cr and bought index futures worth Rs 266 Cr. DIIs were net sellers in the cash segment to the tune of Rs 3428 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24400-24600; Supports 24000-23800
Banknifty – Resistances 57000-57400; Supports 55800-55500
Finnifty – Resistances 26700-26850; Supports 26200- 26000
F&O stocks in ban today: SAIL & SAMMAANCAP
Important Results Today: BAJAJCON, JIOFIN & MASTEK
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates. AY Securities and Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. AtoZ Finstock Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are the associates of GCML.
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