Index Action
Nifty50
Nifty50 faced resistance near the 18,000 mark and failed to cross it. It is trading flat at 17,940 levels; down by 5 points.
October monthly series call options have significant bases at the highest base 18,000 and 18,200 levels and put options still have significant bases at 17,500 and 17,500 levels. Marginal unwinding was seen at 18,200 call options and addition was seen at 17,800 put options.
Weekly options expiring October 14, have sizable positions at 18,000 and 18,200 call options and 17,900 and 17,800 put options. Further additions were seen at 18,000 call options and 17,900 put options.
Nifty50 has immediate support and resistance at 17,800 and 18,200 levels.
Bank Nifty
Bank Nifty touched a low of 38,144 today and has seen buying emerge from there. It is trading at 38,330, up by nearly 40 points.
October monthly call options for Bank Nifty have sizable positions at 38,500 and 39,000 strikes. Put options have sizable positions at 38,000 and 37,500 strikes.
Weekly options expiring on October 14 have a sizable call option base at 38,300 and 38,500 call options and 38,000 and 37,800 put options.
Bank Nifty has immediate support at 37,800 and resistance at 38,300 levels.
Global Markets Update
Major European markets continue to be under pressure and are seeing a negative opening today, down by nearly 1%. US Futures too is trading in the red, down by 140 points.
Stock Action
Today’s top gainers are Delta Corp, Jubilant Food, ABFRL, Bajaj Finserv and Indian Hotels.
Today’s top losers are HCL Tech, Vodafone Idea, Torrent Power, Zee Ent. and Tech Mahindra.
Sector Update
FMCG and Auto sectors are in the green today with stocks like Jubilant Food, United Spirits, Dabur, TVS Motor and Hero Motocorp trading higher.
The IT sector continues to see selling pressure followed by the Metal sector. Stocks like HCL Tech, Tech Mahindra, Coforge, Coal India and JSW Steel are trading in the red.