NIFTY 50:
The Nifty50 opened gap up more than 100 points at 14,474.05 level. It is witnessed volatility in the morning session but gained strength in the afternoon to hits a fresh intraday record high at 14,498.20. It closed at 14,484.80, up 137.50 points or 0.96 per cent.
The Nifty50 index formed a small bullish candle,  which resembled the Dragon Fly Doji pattern in the daily chart.
The bulls appear to failed in capitalising on a strong gap up opened, as no incremental gains were witnessed during the entire session after the opening tick, which resulted in a Dragon Fly doji candlestick kind of formation. This kind of pattern is usually seen around potential market turning points hinting at a balance of power between the bulls and the bears at the top, analyst said.
If the bulls manage to push the Nifty50 index beyond 14,500 level, and then upswing can expand towards 14,750 level, analyst said

On options front, maximum Put option open interest was seen at 14,000 followed by 13,000 strike, while maximum Call option open interest was at 15,000 followed by 14,000 strike. Minor Call option writing was seen at 15,000 then 14,700 strike, while Put option writing was seen at 14,000 then 14,400 strike.
The options data indicates that Nifty could see an immediate trading range at 14,300 to 14,600.
BANK NIFTY:
Bank Nifty opened gap up at 32,280.30 level but could not sustain at the  higher level and remained quite choppy with some selling pressure for the most part of the session. It moved in a range and closed at 31,998.90, with loss at 85.30 points or 0.27 per cent forming a bearish candle on the daily scale.
Bank Nifty index has to continue to hold above 31,750 level to witness an up move towards 32,500 and 32,613, while the downside, support is seen at 31,500 and 31,200, financial analyst said.
 
TOP 5 GAINERS AND LOSERS :
GAINERS :TATAMOTORS, HCLTECH, INFY, WIPRO and HDFC.
LOSERS : TATASTEEL, ADHANIPORTS, BAJFINANCE, BAJAJFINSV and RELIANCE.