Index Action
Nifty50
Nifty50 saw 2nd consecutive session of profit-booking and closed 152 points lower at 18,266.
The monthly October monthly series have a sizable base at 18,500 and 19,000 call options and 18,000 and 17,500 put options. Additions were seen at 18,600 call options and 18,400 put options.
Weekly options expiring October 21, further added to their sizable positions at 18,500 and 18,600 call options and 18,200 and 18,000 put options.
The broad range for Nifty50, as per options data, is 17,500 and 18,800 levels and its immediate support and resistance levels are 18,200 and 18,600 respectively.
Bank Nifty
Bank Nifty held on to 38,500 levels and closed flat; 22 points down at 39,518 levels.
Monthly options for the October series have sizable positions at 39,500 and 40,000 call options and 38,000 and 39,500 put options.
Weekly options expiring on October 21 have sizable positions at 39,800 and 40,000 call options and 39,500 and 39,000 put options.
The broad range for Bank Nifty, as per the options data, is 38,000 and 40,000. Immediate support and resistance levels for Bank Nifty stand at 39,300 and 40,000 levels.
Stock Action
Today’s Top Gainers were Idea, BHEL, Zee Entertainment, Bank of Baroda and Bharti Airtel.
Today's Top Losers were IRCTC, Deepak Nitrite, Dixon Technologies, Jubilant Food and Navin Fluorine.
Sector Update
PSU Banks and Media saw buying interest today with stocks like Bank of Baroda, SBI, Canara Bank, and Sun TV closing in the green.
Metal and Realty sectors saw selling pressure today with stocks like NALCO, Hindalco, Vedanta, Godrej Properties and Oberoi Realty closing in the red.
Major News
Moody’s has upgraded its outlook on the Indian Banking system from “negative” to “stable”. Moody's said: "The deterioration of asset quality since the onset of the coronavirus pandemic has been moderate, and an improving operating environment will support asset quality.