Index Action:
Nifty50: Nifty50 slipped in trade in the second half today as it faced selling pressure at higher levels. It closed 59 points lower at 17,829.
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 11 have a sizable base at 18,000 and 18,200 call options and 17,800 and 17,500 put options. Additions were seen at 17,900 call options and 17,600 put options.
The broad range for Nifty50, as per options data, is 17,200 and 18,400 levels and its immediate support is at 17,500 and resistance is at 18,100 levels.
Bank Nifty: Bank Nifty saw a sharp slide to 39,400 levels despite an attempted recovery. It closed 536 points lower at 39,402.
Monthly options expiring on November 25 have sizable positions at 40,000 and 41,000 call options and 39,000 and 38,000 put options.
Weekly options expiring on November 11 have a sizable base at 40,000 and 40,500 call options and 39,000 and 38,500 put options. Additions were seen at 39,500 call options and 39,000 put options.
The broad range for Bank Nifty, as per the options data, is between 38,000 and 41,000. Immediate support is at 39,000 and resistance is at 39,900 levels.
Stock Action:
Today’s top gainers were Oberoi Realty, Trent, L&T, HPCL and SBI Card.
Today's top losers were Bandhan Bank, Chambal Fertiliser, Balkrishna Industries, IRCTC and Escorts.
Sector Update:
Realty and Metal sectors with buying interest have emerged as the leading sectors today. Stocks like Oberoi Realty, Godrej Properties, Hindalco, JSW Steel and Tata Steel closed in the green.
The Bank and Auto sectors saw selling pressure today. Stocks like Bandhan Bank, IDFC First Bank, IndusInd Bank, Hero MotoCorp and M&M closed in the red.
Major News: Volume sales of gold jewellery and coins are expected to reach pre-Covid levels in this festive season. Softening of gold prices from peaks, increased footfalls in stores and online sales are contributing factors for the spike in sales. This is positive development for retail gold jewellers across the country.
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