Index Action
Nifty50
Nifty50 has been in a tight range today and trading flat with a negative bias. It is trading 13 points lower at 18,055.
For weekly expiry (November 11), Nifty50 has sizable positions at 18,100 and 18,200 call options and 17,900 and 18,000 put options. Further additions were seen in 18,100 call and 18,000 put options.
Nifty50 has immediate support at 17,800 and resistance at 18,200 levels.
Bank Nifty
Bank Nifty saw continued selling pressure but has bounced from 39,300 levels to trade in the positive territory. It is trading 23 points higher at 39,461.
For weekly expiry (November 11), Bank Nifty has sizable positions at 40,000 and 39,500 call options and 39,000 and 38,500 put options. Further additions were seen at 39,600 call options and 39,200 put options.
Bank Nifty has immediate support at 38,900 and resistance at 39,700 levels.
Stock Action
Today’s top gainers are TVS Motors, Birlasoft, Tata Power, BEL and Indiabulls Housing Finance.
Today’s top losers are Shriram Transport Finance, JK Cement, Britannia, CG Consumer and Vedanta.
Sector Update
Auto sector and PSU Banks have emerged as the leading sectors with buying interest today. Stocks like TVS Motor, Tata Motors, Ashok Leyland, PNB and SBI are trading in the green.
Financial Services and FMCG sectors are seeing selling pressure today. Stocks like Shriram Transport Finance, HDFC, HDFC Bank, Britannia and Nestle are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their futures are trading flat with a negative bias in a range of -0.01% to -0.3%. US Futures are trading lower, down by about 0.2%.
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