F&O Market Recap for 2 November 2021

Index action: 

Nifty50: Nifty50 continued to face selling pressure at higher levels of 18,000. It closed 40 points lower at 17,888. 

Monthly options expiring on November 25 have sizable positions at 18,000 and 19,000 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 17,500 put options. Additions were seen at 18,000 call options and 17,700 put options.

The broad range for Nifty50, as per options data, is 17,200 and 18,500 levels and its immediate support is at 17,600 and resistance is at 18,200 levels.

Bank Nifty: Bank Nifty saw mild volatility but traded in the green for the most part of the day. It closed 174 points higher at 39,938. 

Monthly options expiring on November 25 have sizable positions at 40,000 and 41,000 call options and 39,000 and 40,000 put options.   

Weekly options expiring on November 3 have a sizable base at 40,000 and 41,000 call options and 39,500 and 39,000 put options. Additions were seen at 40,100 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 39,200 and resistance is at 40,200 levels. 

Stock action:

Today’s top gainers were RBL Bank, Shriram Transport Finance, Bandhan Bank, ABFRL and DLF. 

Today's top losers were PI Industries, Tata Steel, Aarti Industries, HPCL and GSPC.  

Sector update: 

Realty and PSU Banks with buying interest have emerged as the leading sectors today. Stocks like DLF, Oberoi Realty, Canara Bank, Bank of Baroda and SBI closed in the green. 

Metals and Pharma sectors saw selling pressure today. Stocks like Tata Steel, Jindal Steel and Power, SAIL, Alkem Labs and Lupin closed in the red. 

Major news: Residential real estate market is showing signs of recovery. The dip in Covid-19 infection rates and ongoing festive demand are contributing to a pan-India increase in demand of over 13% during the third quarter, according to the latest Magicbricks PropIndex report for Q3 (Jul-Aug-Sept) 2021.