Index Action
Nifty50
Nifty50 opened marginally higher and immediately resumed its downward trend but held on to 18,000 levels for support. It is trading 52 points lower at 18,056.
For weekly expiry (November 18), Nifty50 has sizable positions at 18,200 and 18,100 call options and 18,000 and 17,900 put options. Further additions were seen in 18,100 call options and unwinding was seen at 18,000 put options.
Nifty50 has immediate support at 17,700 and resistance at 18,300 levels.
Bank Nifty
Bank Nifty is seeing a sharp slide again today, even as it bounced over 100 points from the day’s low of 38,343. It is trading 261 points lower at 38,440.
For weekly expiry (November 18), Bank Nifty has sizable positions at 39,000 and 38,500 call options and 38,500 and 38,000 put options. Further additions were seen at 38,500 call options and 38,200 put options.
Bank Nifty has immediate support at 37,900 and resistance at 39,100 levels.
Stock Action
Today’s top gainers are Motherson Sumi, Chambal Fertiliser, Birlasoft, Vedanta and FSL.
Today’s top losers are Ashok Leyland, Ipca Labs, Glenmark, Manappuram Finance and Metropolis.
Sector Update
Media and Auto sectors have emerged as the leading sectors with buying interest today. Stocks like Zee Entertainment, PVR, Maruti, Tata Motors and Hero MotoCorp are trading in the green.
Bank and Pharma sectors are seeing selling pressure today. Stocks like IDFC First Bank, SBI, Kotak Mahindra Bank, Lupin and Cadila Healthcare are trading in the red.
Global Markets Update
Major European markets are likely to open flat as their futures are trading flat with a positive bias. US Futures are also trading flat but with a negative bias, down by about 0.04%.