Nifty50
Nifty saw a volatile session today with a swing of over 270 points. It closed 10 points up at 18,125 levels.
In Nifty, monthly options expiring on October 28 have seen further additions to their sizable base at 18,200 and 18,500 call options and 18,000 and 17,500 put options. Further additions were seen at 18,200 call options and 18,000 put options.
The broad range for Nifty50, as per options data, is between 7,500 and 18,800 levels and its immediate support and resistance is at 17,900 and 18,300 levels.
Bank Nifty
Bank Nifty continued its outperformance over the Nifty50 as it closed 2.15% higher versus the Nifty50 closing of 0.06%. Bank Nifty closed at an all-time high of 41,192.
In Bank Nifty, monthly options for October series have sizable positions at 41,500 and 42,000 call options and 41,000 and 40,000 put options.
The broad range for Bank Nifty, as per the options data, has shifted to 39,500 and 42,000. Its immediate support is at 40,500 and resistance is at 41,800 levels.
Stock Action
Today’s Top Gainers were ICICI Bank, PVR, Torrent Pharma, City Union Bank and Polycab.
Today's Top Losers were IRCTC, IEX, MCX India, Dixon Technologies and Coforge.
Sector Update
Banking and Financial Services sectors saw buying interest and have emerged as the leading sectors today. Stocks like ICICI Bank, Axis Bank, PNB, RBL Bank and Piramal Enterprises closed in the green.
The Realty and Auto sectors came under selling pressure today. Stocks like DLF, Godrej Properties, TVS Motors, Tata Motors and Hero Motocorp closed in the red.
Major News
Gold prices are near a 1-month high at ₹48,015 per 10 gram. Weakening dollar and the ongoing festive season are few of the factors leading to a surge in demand for the yellow metal.
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