Index Action
Nifty50
Nifty50 saw selling pressure in the second half of the day as global markets came under pressure again on account of a rise in the bond yields. Nifty50 closed near day’s lows down by 176 points lower at 17,646.
Monthly options for the October series have sizable positions at 18,000 and 17,800 call options and 17,500 and 17,000 put options. Further additions were seen at the 17,800 call option and 17,500 put option.
October 7 weekly options have sizable positions at 17,900 and 18,000 call options and 17,500 and 17,400 put option strikes. Further additions were seen at 17,800 call options and 17,500 put options.
Options data suggests Nifty50 has support at 17,500 and resistance at 17,800 levels.
Bank Nifty
Bank Nifty gave up the gains of the day and closed 219 points lower at 37,521 levels.
Monthly options for the October series have sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options. Further additions were seen at the 37,800 call options and 37,200 put options.
October 7 weekly options have sizable positions at 37,800 and 38,000 call options and 37,500 and 37,000 put options. Here too, further additions were seen at 37,800 call options and 37,200 put options.
Bank Nifty once again held on to its support level of 37,500. Below this Bank Nifty has support at 37,200 levels and resistance is at 37,800 levels.
Global Markets Update
Major European indices have slipped further in the red and are trading down by nearly 2%. Dow Futures too has dipped further and is trading down by 350 points.
Stock Action
Todays’ Top Gainers were Bosch, Deepak Nitrite, IRCTC, Coromandel and Tata Chemicals.
Today’s Top Losers were ABFRL, Nalco, Astral, BHEL and Vedanta.
Major News
Global markets are seeing selling pressure as US bond yields hit a 4-month high and Brent crude bounced back above $82 per barrel after OPEC+ announced its decision to maintain a gradual supply hike.