Index Action
Nifty50
Nifty50 opened gap down but has been trading in a narrow range since then. It is trading 92 points lower at 17,952.
For weekly expiry (November 11), the Nifty50 has sizable positions at 18,000 and 18,100 call options and 17,900 and 17,800 put options. Further additions were seen in 18,000 call options and 17,950 put options.
The Nifty50 has immediate support at 17,800 and resistance at 18,200 levels.
Bank Nifty
Bank Nifty slipped further today in trade and is hovering around the 39,000 mark. It is trading 400 points lower at 38,968.
For weekly expiry (November 11), 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 39,100 call options and 39,000 put options.
Bank Nifty has immediate support at 38,500 and resistance at 39,400 levels.
Stock Action
Today’s top gainers are MCX India, Indiabulls Housing Finance, Delta Corp, FSL and Bandhan Bank.
Today’s top losers are BHEL, India Cements, JSPL, Tata Steel and SAIL.
Sector Update
Auto sector has emerged as the leading sector with buying interest today. Stocks like M&M, Bosch and TVS Motor are trading in the green.
Metal and Realty sectors, followed by Banks, are seeing selling pressure today. Stocks like JSPL, Tata Steel, Oberoi Realty, IndusInd Bank and AU Small Finance Bank are trading in the red.
Global Markets Update
Major European markets are likely to open lower as their futures are trading flat with a negative bias upto -0.2%. US Futures are trading lower, down by about 0.3%.