Index Action
Nifty50
Nifty50 opened flat, but the selling intensified immediately and has kept Nifty50 in the negative for the first half of the day. It is trading 162 points lower at 17,736.
Today is the expiry for November 18 series contracts.
For weekly expiry (November 18), the Nifty50 has sizable positions at 18,000 and 17,900 call options and 17,500 and 17,700 put options. Further additions were seen in 17,900 call options and 17,700 put options.
The Nifty50 has immediate support at 17,600 and resistance at 18,200 levels.
Bank Nifty
Bank Nifty continues to slide down and is trading below the 38,000 level. It is trading 157 points lower at 37,884.
For weekly expiry (November 18), Bank Nifty has sizable positions at 38,000 and 38,200 call options and 37,800 and 37,500 put options. Further additions were seen at 38,000 call options and 37,800 put options.
Bank Nifty has immediate support at 37,600 and resistance at 38,800 levels.
Stock Action
Today’s top gainers are Escorts, PNB, Chambal Fertiliser, SRF and Birlasoft.
Today’s top losers are Vedanta, Tata Power, Bosch, Tata Motors and Jubilant Foodworks.
Sector Update
Among the major sectors, only PSU Banks are witnessing buying interest, with stocks like PNB and SBI trading in the green.
The Media and Auto sectors, followed by Realty, are seeing selling pressure today. Stocks like PVR, Sun TV, Tata Motors, Ashok Leyland and Oberoi Realty 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 flat but with a positive bias.