F&O Mid-market Update for 29 October 2021

Index Action

Nifty50

Nifty50 opened lower and tumbled over 1% to hit a low of 17,613. It has bounced back to the positive territory from the lows of the day. It is trading 15 points lower at 17,841 levels. 

For weekly expiry (November 3), Nifty50 has sizable positions at 18,000 and 18,300 call options and 17,500 and 17,800 put options. Further additions were seen at 18,000 call options and 17,600 put options. 

Nifty50's immediate support is at 17,600, and resistance is at 18,300 levels.

Bank Nifty

Bank Nifty recovered nearly 1,000 points from the day's lows and is trading 121 points lower at 39,387 levels.  

For weekly expiry (November 3), Bank Nifty has sizable positions at 41,000 and 40,000 call options and 39,000 and 38,500 put options. Further additions were seen at 40,000 call options and 39,000 put options. 

Bank Nifty's immediate support is at 38,700 and resistance is at 40,000 levels. 

Stock Action 

Today’s top gainers are Canara Bank, Lupin, Indigo, United Spirits and NMDC. 

Today’s top losers are RBL Bank, IRCTC, SBI Card, Laurus Lab and GSPL. 

Sector Update

PSU Banks and Media sectors saw buying interest and have emerged as the top gainers till now. Stocks like Canara Bank, PNB, SBI, Sun TV and Zee Entertainment are trading in the green. 

The Financial Services came under selling pressure today. Stocks like Kotak Mahindra Bank, HDFC and Axis Bank are trading in the red. 

Global Markets Update

Major European markets are likely to open negative as their futures are trading negative, down by nearly 0.5%. US Futures are also trading negative, down by almost 0.2%.