Index Action
Nifty50
In line with global cues, Nifty50 opened lower and has been sliding further down today. It is trading 134 points lower at 17,882.
Today is the expiry of November 11 contracts.
For weekly expiry (November 11), the Nifty50 has sizable positions at 18,000 and 18,100 call options and 17,800 and 17,700 put options. Further additions were seen in 17,900 call options and 17,700 put options.
The Nifty50 has immediate support at 17,600 and resistance at 18,100 levels.
Bank Nifty
Bank Nifty too has been under selling pressure after opening lower. It is trading 278 lower at 38,745.
For weekly expiry (November 11), Bank Nifty has sizable positions at 39,000 and 38,800 call options and 38,500 and 38,700 put options. Further additions were seen at 38,800 call options and 38,500 put options.
Bank Nifty has immediate support at 38,500 and resistance at 39,400 levels.
Stock Action
Today’s top gainers are Navin Fluorine, Pidilite, Trent, IGL and Titan.
Today’s top losers are Astral, Alembic Pharma, Bharat Forge, Escorts and Oberoi Realty.
Sector Update
Metal sector is seeing buying interest today. Stocks like Adani Enterprises and Tata Steel are trading in the green.
Realty and Pharma sectors, followed by IT, are seeing selling pressure today. Stocks like Oberoi Realty, DLF, Aurobindo Pharma, Cipla and Tech Mahindra are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading in the range of -0.3% to +0.2%. US Futures are trading flat, up by about 13 points.