Nifty50
Nifty50 opened higher but saw profit-booking early on. It bounced from 18,400 and is trading in the green again. It is trading 80 points up at 18,560 levels.
The October monthly series options have a sizable base at 18,500 and 19,000 call options and 18,500 and 18,000 put options. Additions were seen at 18,900 call options and 18,500 put options.
Weekly options expiring October 21, have sizable call option positions at 18,600 and 18,700 call options and 18,500 and 18,300 put options. Further additions were seen at 18,600 call options and 18,500 put options.
Nifty50 has immediate support and resistance at 18,300 and 18,600 levels.
Bank Nifty
Bank Nifty crossed the 40,000 mark today and made a high of 40,011. Despite profit-booking setting in, it is trading 137 points up at 39,825 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 39,500 strikes. Marginal unwinding was seen at 39,500 call options today.
Weekly options expiring on October 21 have a sizable call option positions at 39,800 and 40,000 and 39,500 and 39,000 put options. Additions were seen at 39,900 call options and 39,500 put options.
Bank Nifty has immediate support at 39,400 and resistance at 40,000 levels.
Stock Action
Today’s top gainers are L&T Infotech, IEX, L&T Tech, Mphasis and IRCTC.
Today’s top losers are Tata Power, ITC, Ambuja Cements, India Cements and IDFC First Bank.
Sector Update
The IT and Financials are amongst the leading sectors witnessing the buying interest today with stocks like L&T Infotech, Mphasis, Coforge, Shriram Transport Finance and M&M Financial trading higher.
Realty and PSU Banks are seeing profit-booking today with stocks like DLF, Oberoi Realty, Godrej Properties, Canara Bank and PNB trading lower.
Global Markets Update
Major European markets are likely to open in the green as their futures are trading up by nearly 0.1%. US Futures are also trading flat, up by nearly 0.07%
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