Nifty50
Nifty50 opened at record levels of 18,500 and after a minor profit-booking has come up to those levels again. It is trading 163 points up at 18,501 levels.
The October monthly series options have a sizable base at 18,500 and 19,000 call options and 18,000 and 17,500 put options. Further additions were registered at 18,600 call options and 18,300 put options.
Weekly options expiring October 21, have sizable positions at 18,500 and 18,600 call options and 18,500 and 18,300 put options. Further additions were seen at 18,600 call options and 18,300 put options.
Nifty50 has immediate support and resistance at 18,300 and 18,600 levels.
Bank Nifty
Bank Nifty came within striking distance of 40,000 levels. It hit a high of 39,923 and is trading 460 points up at 39,800 levels.
The October monthly call options for Bank Nifty have sizable positions at 40,000 and 39,500 strikes. Put options have sizable positions at 39,000 and 38,000 strikes.
Weekly options expiring on October 2, call options have a sizable base at 39,800 and 40,000 and put options have sizable positions at 39,500 and 39,000.
Bank Nifty has immediate support at 39,000 and resistance at 40,000 levels.
Stock Action
Top gainers: Tata Power, Vedanta, NALCO, PNB and Hindalco.
Top losers: Motherson Sumi, HCL Tech, Cadila Healthcare, Indus Tower and Amara Raja Batteries.
Sector Update
Metals and PSU Banks are the leading sectors today. Stocks like Vedanta, Hindalco, JSW Steel, PNB and Bank of Baroda are trading higher.
Among the major indices, Pharma is seeing some profit booking. Stocks like Cadila Healthcare, Biocon, Dr.Reddys, Lupin and Cipla are trading lower.
Global Markets Update
Major European markets are likely to open lower as their futures are trading down by nearly 0.5%. US Futures are also trading lower, down by nearly 0.2%