Index Action:
Nifty50: Nifty50 was completely in the grip of bears today as it fell more than 450 points during the day. However, a marginal recovery came in toward the end of the trading session. It closed 348 points lower at 17,416.
Nifty50 options expiring on November 25 have sizable positions at 18,000 and 17,800 call options and 17,000 and 17,400 put options. Further additions were seen at near out-of-the-money call options including 17,600 call options and at 17,300 put options.
The broad range for Nifty50, as per options data, is between 17,000 and 18,700 levels. Its immediate support is at 17,200 and resistance is at 18,000 levels.
Bank Nifty: Bank Nifty fell more than 1,300 points during the day, but a mild recovery towards the close of trade helped it end the day above the 37,000 mark. It closed 847 points lower at 37,128.
Bank Nifty options expiring on November 25 have sizable positions at 38,000 and 38,500 call options and 37,000 and 36,500 put options. Further additions were seen at 37,500 call options and at 37,000 put options.
The broad range for Bank Nifty, as per the options data, is between 36,000 and 38,800. Immediate support is at 36,800 and resistance is at 37,800 levels.
Stock Action
Today’s top gainers were Vedanta, Vodafone Idea, Bharti Airtel, Indus Towers and NALCO.
Today's top losers were Deepak Nitrite, Info Edge, Aarti Industries, Navin Fluorine and Alkem Labs.
Sector Update
No major indices closed in the green today.
PSU Banks and Realty sector, followed by Media, saw selling pressure today. Stocks like Bank of Baroda, PNB, Oberoi Realty, DLF and PVR closed in the red.
Major News: Reliance Industries fell more than 4% today. It called off the deal with Saudi Aramco last week. The company said it has decided to re-evaluate the Aramco proposal to acquire a stake in the Indian conglomerate due to the “evolving nature of its business portfolio”
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