F&O Mid-market Update for 26 October 2021

Index Action

Nifty50

Volatility continues to remain high for Nifty50. Nifty50 opened in the green and touched a high of 18,265. Selling pressure at higher levels dragged Nifty50 in the red at 18,100 levels. It is now trading 14 points higher at 18,139 levels. 

The October monthly series options have a sizable base at 18,300 and 18,500 call options and 18,000 and 18,200 put options. Additions were seen at 18,250 call option and 18,150 put option. 

Nifty50 has immediate support  and resistance at 17,900 and 18,300 levels. 

Bank Nifty

Following a sharp run up in the last few days, Bank Nifty lacked momentum on the upside and is seeing signs of profit-booking today. It is trading 250 points lower at 40,940 levels. 

The October monthly options for Bank Nifty have a sizable base at 41,500 and 42,000 call options and 40,000 and 41,000 put options. Further additions were seen in 41,300 call option and 41,000 put option.

Bank Nifty has immediate support and resistance at 40,500 and 41,400 levels. 

Stock Action 

Today’s top gainers are IEX, Tata Power, IRCTC, Bank of Baroda and IDFC First Bank. 

Today’s top losers are Torrent Pharma, Indus Towers, PI Industries, Axis Bank and Ipca Labs. 

Sector Update

Realty and PSU Bank supported by Media saw buying interest and have emerged as the leading sectors today. Stocks like DLF, Oberoi Realty, Bank of Baroda, PNB and PVR are trading in the green.

Private Banks and Pharma sector came under selling pressure with stocks like Axis Bank, ICICI Bank, Indusind Bank, Torrent Pharma and Sun Pharma trading in the red. 

Global Markets Update

Major European markets are likely to open positive as their futures are trading in the green, up by nearly 0.2%. US Futures are trading higher, up by almost 0.1%.