Index Action
Nifty50: Nifty50 closed marginally in the red as it breached 18,000 but managed to climb up near yesterday’s closing levels. It closed 24 lower at 18,044.
Monthly options expiring on November 25 have sizable positions at 19,000 and 18,500 call options and 17,500 and 17,000 put options.
Weekly options expiring on November 11 have a sizable base at 18,200 and 18,100 call options and 17,900 and 17,800 put options. Additions were seen at 18,200 call options and 17,900 put options.
The broad range for Nifty50, as per options data, is 17,200 and 18,500 levels and its immediate support is at 17,800 and resistance is at 18,200 levels.
Bank Nifty: Bank Nifty recovered nearly 150 points from the day’s low but closed in the red. It closed 69 points lower at 39,368.
Monthly options expiring on November 25 have sizable positions at 40,000 and 41,000 call options and 38,000 and 39,000 put options.
Weekly options expiring on November 11 have a sizable base at 40,000 and 39,500 call options and 39,000 and 39,500 put options. Additions were seen at 39,600 call options and 39,200 put options.
The broad range for Bank Nifty, as per the options data, is between 38,500 and 41,300. Immediate support is at 38,900 and resistance is at 39,700 levels.
Stock Action
Today’s top gainers were Vodafone Idea, RBL Bank, ABFRL, M&M and Birlasoft.
Today's top losers were JK Cement, Britannia, Jindal Steel, Shriram Transport Finance and Muthoot Finance.
Sector Update
Auto sector and PSU Banks with buying interest have emerged as the leading sectors today. Stocks like M&M, Bosch, TVS Motor, SBI and PNB closed in the green.
Financial Services and FMCG sectors saw selling pressure today. Stocks like Shriram Transport Finance, Muthoot Finance, HDFC, Britannia and Godrej Consumer Products closed in the red.
Major News: The Indian rupee reached a six week high of 73.89 per US dollar. A spree of IPOs, strongly recovering Indian economy and the dovish stance of the US Federal Reserve bank have been some of the contributing factors towards the strengthening of the Indian rupee versus the US dollar.
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