Index Action
Nifty50
Nifty50 slipped nearly 90 points at opening but has recovered all of the lost ground to trade in the green. It is 20 points lower at 17,979.
For the weekly expiry (November 18), the 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 18,000 call options and 17,900 put options.
The Nifty50 has immediate support at 17,700 and resistance at 18,300 levels.
Bank Nifty
Bank Nifty recovered nearly 450 points from the opening lows of 37,988 as it hit a high of 38,456. It is trading 29 points lower at 38,277.
For weekly expiry (November 18), Bank Nifty has sizable positions at 38,500 and 39,000 call options and 38,000 and 38,500 put options. Further additions were seen at 38,500 call options and 38,000 put options.
Bank Nifty has immediate support at 37,900 and resistance at 39,000 levels.
Stock Action
Today’s top gainers are Apollo Hospital, L&T Technology, Birlasoft, Metropolis and JK Cement.
Today’s top losers are Indus Towers, Chambal Fertilisers, UPL, GMR Infra and HPCL.
Sector Update
The PSU Bank and Auto sectors have emerged as the leading sectors with buying interest today. Stocks like SBI, Bank of Baroda, Tata Motors, MRF, and Maruti Suzuki are trading in the green.
The Pharma and Realty sectors are seeing selling pressure today. Stocks like Lupin, Aurobindo Pharma, Divis Labs, Godrej Properties and Oberoi Realty are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading mixed in the range of -0.4% to +0.2%. US Futures are also trading flat with a negative bias, down by about 0.06%.