Index Action
Nifty50
Nifty50 saw its fifth consecutive day of positive closing today with a 169 points positive close at yet another record high levels of 18,161.
The monthly October monthly series have a sizable base at 18,200 and 18,500 call options and 18,000 and 17,800 put options. Additions were seen at 18,200 call options and 17,800 put options.
Weekly options expiring October 14, further added to their sizable positions at 18,200 and 18,300 call options and 17,900 and 17,800 put options. Heavy additions were seen at 18,000 put options today.
The broad range for Nifty50, as per options data, is 17,500 and 18,400 levels and its immediate support and resistance levels are 17,900 and 18,200 respectively.
Bank Nifty
Bank Nifty saw profit-booking at higher levels today and closed 114 points higher at 38,635 levels.
Monthly options for the October series have sizable positions at 38,500 and 39,000 call options and 38,000 and 38,500 put options. Further additions were seen at 38,500 put options.
Weekly options expiring on October 14 have sizable positions at 38,800 and 39,000 call options and 38,500 and 38,200 put options.
The broad range for Bank Nifty, as per the options data, is 37,500 and 39,000. Immediate support and resistance levels for Bank Nifty stand at 38,200 and 39,000 levels.
Global Markets Update
European markets recovered from the day’s lows and are trading in the range of -0.16% to +0.67%. Dow Jones Futures is trading up by 45 points.
Stock Action
Today’s Top Gainers were Tata Motors, Tata Power, Tata Chemicals, Indiamart and Indian Hotels.
Today's Top Losers were SRF, Maruti Suzuki, ONGC, ABFRL and Biocon.
Major News
Aviation stocks were in focus today as the government announced the lifting of Covid-19 pandemic restrictions and allowed domestic flights to operate at 100% capacity from October 18, 2021.
Brent crude has cooled off today and is trading under $83 per barrel after touching the highs of $84.60 per barrel recently.