Index Action:
Nifty50: Nifty50 staged a sharp recovery today as buying was witnessed in all major sectors. It closed 258 points higher at 17,929.
Monthly options expiring on November 25 have sizable positions at 18,000 and 18,500 call options and 17,000 and 17,500 put options.
Weekly options expiring on November 3 have a sizable base at 18,000 and 18,200 call options and 17,800 and 17,700 put options. Additions were seen at 18,000 call options and 17,800 put options.
The broad range for Nifty50, as per options data, is between 17,200 and 18,500 levels and its immediate support is at 17,600 while resistance is at 18,200 levels.
Bank Nifty: Bank Nifty saw buying interest return as it closed firmly in the green. It closed 648 points higher at 39,763.
Monthly options expiring on November 25 have sizable positions at 40,500 and 41,000 call options and 39,000 and 39,500 put options.
Weekly options expiring on November 3 have a sizable base at 41,000 and 40,000 call options and 39,500 and 39,000 put options. Additions were seen at 39,800 call options and 39,500 put options.
The broad range for Bank Nifty, as per the options data, between 38,000 and 41,500. Immediate support is at 39,000 and resistance is at 40,200 levels.
Stock Action:
Today’s top gainers were SAIL, IndusInd Bank, Dixon Technologies, Delta Corp and Vodafone Idea.
Today's top losers were Manapurram, Chola Investment, Laurus Labs, Whirlpool and BEL.
Sector Update:
Realty and Metal sectors, followed by IT, with buying interest have emerged as the leading sectors today. Stocks like Oberoi Realty, Godrej Properties, SAIL, NALCO and Mindtree closed in the green.
No major sectoral indices closed in the red today.
Major News: Manufacturing activity in India picked up pace in October. IHS Markit data on Purchasing Managers’ Index (PMI) showed a rise to 8-month high levels of 55.9 versus 53.7 in September.