Index Action
Nifty50
Nifty50 maintained its positive trend throughout the day today and touched a high of 17,750. It closed 159 points at 17,691 levels.
For October series monthly options, 18,000 and 18,500 call options continue to maintain significant bases. For put options, 17,500 and 17,000 strikes hold significant bases.
Weekly options expiring on October 7, now have significant bases in 17,700 and 17,800 call options. For put options, 17,600 and 17,500 hold substantial bases.
Weekly options data pegs Nifty50’s support at 17,500 and resistance at 17,800 levels.
Bank Nifty
Bank Nifty had a positive start to the week and ended the day 353 points higher at 37,579 levels.
Bank Nifty October series monthly call options have a substantial base at 39,000 and 38,000 strikes. While monthly put options have substantial bases at 37,500 and 36,000 levels.
Weekly options expiring on October 7, show a substantial base at 37,500 and 38,000 strikes. Further additions were seen for 37,700 call options as well. Weekly put options show a substantial base at 37,500 and 37,000 strikes.
Options data suggests that 37,500 remains a crucial level for the Bank Nifty in the coming days. Based on the options data, the immediate support for Bank Nifty is seen at 37,500 levels and resistance at 37,800 levels.
Global Markets Update
Major European indices had opened in the red but have recovered from the day’s lows and are trading flat to positive now. Dow Futures too has recovered but still trades in the red down by 120 points.
Stock Action
Todays’ Top Gainers were Astral Ltd., Divis Lab, Piramal Enterprises, Aarti Industries and Godrej Properties.
Today’s Top Losers were Indus Towers, Delta Corp., Cummins, Cipla and ABFRL.
Major News
Oil prices saw a dip ahead of the OPEC+ meeting today. Brent crude slipped below $80 per barrel amid talks of a tightening market.
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