Index Action
Nifty50
After a positive opening, Nifty50 slipped in the first hour of trade but saw buying interest at lower levels. It is trading 100 points higher at 17,772 levels.
This is a truncated week due to trading holidays on account of Diwali on Thursday and Friday.
For weekly expiry (November 3), the Nifty50 has sizable positions at 18,000 and 17,800 call options and 17,500 and 17,600 put options. Further additions were seen at 17,800 call options and 17,600 put options.
The Nifty50 has immediate support at 17,500 and resistance at 18,100 levels.
Bank Nifty
Bank Nifty also is trading firmly in the green. It is trading 257 points higher at 39,373 levels.
For weekly expiry (November 3), Bank Nifty has sizable positions at 39,500 and 40,000 call options and 39,000 and 38,500 put options. Further additions were seen at 39,000 call options and 38,500 put options.
Bank Nifty has immediate support at 38,700 and resistance at 39,800 levels.
Stock Action
Today’s top gainers are SAIL, IndusInd Bank, Godrej Properties, Vodafone Idea and Oberoi Realty.
Today’s top losers are Manapurram, Chola Investment, BEL, Laurus Labs and Whirlpool.
Sector Update
The Realty and Metal sectors, followed by IT, have emerged as the leading sectors with buying interest today. Stocks like Godrej Properties, Oberoi Realty, SAIL, NALCO and HCL Tech are trading in the green.
No major sectoral indices are in the red so far.
Global Markets Update
Major European markets are likely to open positive as their futures are trading higher, up by 0.1% to 0.7%. US Futures are also trading positive, up by almost 0.1%.