Index Action
Nifty50
Nifty had a positive opening but has seen selling pressure at higher levels as it slips lower and manages to hold in the green. It is trading 6 points higher at 18,109.
For the weekly expiry (November 18), the Nifty50 has sizable positions at 18,200 and 18,500 call options and 18,000 and 17,900 put options. Further additions were seen in 18,200 call options and 18,000 put options.
The Nifty50 has immediate support at 17,700 and resistance at 18,400 levels.
Bank Nifty
Bank Nifty opened higher but has not been able to hold on to the gains as it slipped into the negative territory. It is trading 16 points lower at 38,716.
For weekly expiry (November 18), Bank Nifty has sizable positions at 39,000 and 39,500 call options and 38,500 and 38,000 put options. Further additions were seen at 39,000 call options and 38,500 put options.
Bank Nifty has immediate support at 37,900 and resistance at 39,400 levels.
Stock Action
Today’s top gainers are Apollo Hospitals, Metropolis, Syngene International, Laurus Labs and IRCTC.
Today’s top losers are Manappuram, M&M Financial, JK Cement, Motherson Sumi and GMR Infra.
Sector Update
Pharma and IT sectors have emerged as the leading sectors with buying interest today. Stocks like Biocon, Cipla, Aurobindo Pharma, Mphasis and Coforge are trading in the green.
Metal sector and PSU Banks are seeing selling pressure today. Stocks like Coal India, Hindalco, JSPL, Canara Bank and Bank of Baroda are trading in the red.
Global Markets Update
Major European markets are likely to open flat as their futures are trading flat with a negative bias. US Futures are also trading lower, down by about 0.1%.
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