Index Action
Nifty50
Nifty50 opened gap-down and has seen selling pressure throughout the day so far. It is trading down by 150 points at 17,470 levels. Nifty has managed to hold on to 17,400 levels.
Nifty50 October series monthly call options have the highest base at 18,000 and 18,500 strikes. Put options have the highest base at 17,000 and 17,500 strikes.
Immediate support and resistance continue at 17,400 and 18,100 levels as per the PCR-OI data.
Bank Nifty
Bank Nifty continued to be under pressure and is trading about 350 points down at 37,100 levels. It slipped below the key level of 37,000 but has bounced back and is trading above it.
October series monthly call options for Bank Nifty have the highest base at 38,000 followed by 38,500 strikes. Put options now have their highest base at 36,000 and 36,500 strikes.
Immediate support and resistance continue at 37,000 and 37,800 levels as per the PCR-OI data.
Global Markets Update
Major European markets have opened in the red and are trading down by nearly 1%. US Futures are also trading in the red, with the Dow Futures trading down by almost 270 points.
Stock Action: (Top Gainers and Top Losers in Futures segment)
Today’s top gainers are Manappuram Finance, Trent, Delta Corp., Muthoot Finance and Abbott India.
Today’s top losers are Cummins, Bajaj Finserv, Oberoi Realty, Gujarat Gas and Vodafone Idea.
Sector Update: (Top gainer sectors and Top Loser sectors)
Media and Metals are in the green today. Stocks like Sun TV, JSW Steel, Sail and Tata Steel are trading higher today.
Realty and consumption sectors are seeing some pressure today. Stocks like Oberoi Realty, Godrej Properties, Havells and Asian Paints are trading in the red.