Index Action
Nifty50
Profit-booking continued in Nifty50 and a bounce back from seen from the lows of 18,048. It closed 88 points lower at 18,178.
The monthly October series have a sizable base at 18,400 and 18,200 call options and 18,200 and 17,500 put options. Additions were seen at both 18,200 call and put options.
The broad range for Nifty50, as per options data, is 17,500 and 18,800 levels and its immediate support at 17,900 and resistance at 18,200 levels.
Bank Nifty
Bank Nifty continued its outperformance and crossed the 40,000 mark today. It closed 512 points higher at 40,030.
Monthly options for the October series have sizable positions at 40,000 and 40,500 call options and 39,500 and 39,000 put options.
The broad range for Bank Nifty, as per the options data, has shifted to 39,000 and 41,000. Immediate support is at 39,500 and resistance is at 40,500 levels.
Stock Action
Today’s Top Gainers were Kotak Mahindra Bank, Tata Motors, RBL Bank, M&M Financial and Shriram Transport Finance.
Today's Top Losers were Havells India, L&T Finance, Berger Paints, Mindtree and Coforge.
Sector Update
Banks and Auto sectors were the leading sectors today with stocks like Kotak Mahindra Bank, PNB, IDFC First Bank, Tata Motors and Ashok Leyland closing in the green.
The IT and Metals saw selling pressure today with stocks like Mindtree, L&T Infotech, OFSS, Hindalco and Tata Steel closing in the red.
Major News
India has administered more than 100-crore Covid-19 vaccinations with more than 50% of the population getting the first dose and 21% of the population having received both doses.