F&O Market Recap for 10 November

Index Action 

Nifty50: Nifty50 gained momentum and traded briefly in the positive territory in the second half before slipping into the red again. It closed 27 points lower at 18,017.

Monthly options expiring on November 25 have sizable positions at 19,000 and 18,500 call options and 17,500 and 17,000 put options.   

Weekly options expiring on November 11 have a sizable base at 18,200 and 18,100 call options and 17,900 and 17,800 put options. Additions were seen at 18,200 call options and 18,000 put options.

The broad range for Nifty50, as per options data, is 17,200 and 18,500 levels, and its immediate support is at 17,800 and resistance is at 18,200 levels.

Bank Nifty: Bank Nifty remained under pressure all day but managed to close above the 39,000 mark. It closed 345 points lower at 39,023. 

Monthly options expiring on November 25 have sizable positions at 40,000 and 41,000 call options and 38,000 and 37,000 put options.   

Weekly options expiring on November 11 have a sizable base at 39,500 and 40,000 call options and 39,000 and 38,500 put options. Additions were seen at 39,400 call options and 39,000 put options.

The broad range for Bank Nifty, as per the options data, is between 38,500 and 41,300. Immediate support is at 38,500 and resistance is at 39,400 levels. 

Stock Action

Today’s top gainers were MCX India, Indiamart, TVS Motor, UPL and Aurobindo Pharma. 

Today's top losers were Strides Pharma, FSL, BHEL, India Cements and Bank of Baroda. 

Sector Update 

Auto and Consumption sectors with buying interest have emerged as the leading sectors today. Stocks like M&M, TVS Motor, Britannia, Havells and Godrej Consumer Products closed in the green. 

PSU Banks and Metal sector, followed by the Realty sector, saw selling pressure today. Stocks like Bank of Baroda, Canara Bank, SAIL, JSPL and Oberoi Realty closed in the red. 

Major News: In order to battle rising input costs, an industry group representing over 1,000 pharmaceutical manufacturers has requested the government to allow an increase in the price of non-scheduled drugs by 20% as against the maximum allowed price hike of 10%. If permitted, this move is expected to improve the margins of Indian pharmaceuticals manufacturers.