Index Action
Nifty50: Nifty50 provided some relief to the bulls today with an upward and a positive closing. It closed 86 points higher at 17,503.
Nifty50 options expiring on November 25 have sizable positions at 18,000 and 17,800 call options and 17,000 and 17,500 put options. Further additions were seen at 17,600 call options and at 17,400 put options.
The broad range for Nifty50, as per options data, is 17,000 and 18,700 levels and its immediate support is at 17,200 and resistance is at 18,000 levels.
Bank Nifty: Bank Nifty, too, snapped its losing streak today, and closed 144 points higher at 37,272.
Bank Nifty options expiring on November 25 have sizable positions at 38,000 and 37,500 call options and 37,000 and 36,500 put options. Further additions were seen at 37,500 call options and at 37,000 put options.
The broad range for Bank Nifty, as per the options data, is between 36,000 and 38,800. Immediate support is at 36,800 and resistance is at 37,800 levels.
Stock Action
Today’s top gainers were Glenmark, Birlasoft, Navin Fluorine, Strides Pharma and BHEL.
Today's top losers were Syngene International, Asian Paints, IndusInd Bank, Infosys and Muthoot Finance.
Sector Update
Metal and Media sectors, followed by PSU Banks, with buying interest have emerged as the leading sectors today. Stocks like Vedanta, JSW Steel, Zee Entertainment, Bank of Baroda and Canara Bank closed in the green.
The IT sector saw marginal selling pressure today. Stocks like Infosys and Wipro closed in the red.
Major News: Goldman Sachs said today in a report that they expect India’s GDP growth at 9.1% in 2022. Consumption is expected to be an important contributor as the economy fully re-opens, driven by a notable improvement in the virus situation and the adequate progress on vaccination, the report said.