Index Action
Nifty50: Nifty50 opened lower, faced selling pressure on rise, and closed in the red below the 18,000 mark. It closed 143 points lower at 17,873.
Monthly options expiring on November 25 have sizable positions at 18,000 and 18,500 call options and 17,500 and 17,000 put options.
Weekly options expiring on November 18, have a sizable base at 18,000 and 18,100 call options and 17,500 and 17,400 put options.
The broad range for Nifty50, as per options data, is 17,000 and 18,500 levels, and its immediate support is at 17,500 and resistance is at 18,100 levels.
Bank Nifty: Bank Nifty’s underperformance against the Nifty50 continues as it closed 1.2% lower vis-a-vis the 0.8% lower closing of the Nifty50. Bank Nifty closed 463 points lower at 38,560.
Monthly options expiring on November 25 have sizable positions at 40,000 and 40,500 call options and 38,000 and 37,000 put options.
Weekly options expiring on November 18 have a sizable base at 39,000 and 39,500 call options and 38,500 and 38,000 put options.
The broad range for Bank Nifty, as per the options data, is between 37,100 and 40,200. Immediate support is at 37,900 and resistance is at 39,400 levels.
Stock Action
Today’s Top Gainers were Pidilite, Navin Fluorine, GMR Infra, HAL and L&T Infotech.
Today's Top Losers were Balkrishna Industries, Laurus Labs, Bharat Forge, DLF and Vodafone Idea.
Sector Update
Metals is the major sector that saw buying interest today. Stocks like Hindalco, JSW Steel, JSPL and Adani Enterprises closed in the green.
Realty, PSU Bank and Pharma sectors saw selling pressure today. Stocks like DLF, Godrej Properties, SBI, Canara Bank and Sun Pharma closed in the red.
Major News: Internationally, gold prices have eased today after climbing to a near 5-month high of $1,850 per ounce. This is after a report showed US inflation could be running higher than expected and the investors reassessing how the Federal Reserve would react to it.
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