F&O Mid-market update for 5 October 2021

Index Action

Nifty50

Nifty50 is trading in a tight range of 70 points today. It opened negative, recovered from the lows of the day and is trading 40 points up at 17,730 levels. 

October monthly series call options have significant bases at the highest base 17,700 and 18,000 levels and put options have significant bases at 17,500 and 17,000 levels. The 17,600 put option has added substantial positions today. 

Weekly options expiring on October 7 also have sizable positions at 17,700 and 18,000 strikes and put options have sizable positions at 17,600 and 17,500 levels. 

Options data suggests immediate support and resistance continues at 17,600 and 17,800 levels.

Bank Nifty 

Bank Nifty recovered from the day’s lows but trades in the red. It is trading down by 40 points at 37,530 levels. 

October monthly call options for Bank Nifty have sizable positions at 38,000 and 38,500 strikes. Put options now have sizable positions at 37,500 and 36,500 strikes.

Weekly options expiring on October 7 have significant bases at 37,500 and 38,00 strikes and put options have significant bases at 37,500 and 37,000 strikes.  

Options data suggests 37,500 is a crucial level for Bank Nifty and a meaningful move on either side of this level might set the directional trend. Immediate support and resistance continue at 37,400 and 38,000 levels. 

Global Markets Update 

Major European markets have opened positive today and are trading up by nearly 0.5%. US Futures are trading flat, with the Dow Futures trading up by 45 points. 

Stock Action: (Top Gainers and Top Losers in Futures segment)

Today’s top gainers are Tata Power, ONGC, Vodafone Idea, Piramal Enterprises and IRCTC. 

Today’s top losers are Bharat Forge, Oberoi Realty, Ipca Labs, Cipla and Indiamart. 

Sector Update: (Top gainer sectors and Top Loser sectors)

Media and Energy sectors are in the green today with stocks like Tata Power, ONGC and PVR trading positive, 

Realty and PSU Banks are in the red today followed by Pharma, with stocks like Godrej Properties, Oberoi Realty, Canara Bank and Cipla trading negative.