Index Action
Nifty50
Profit-booking continued in Nifty50 today as it dropped nearly 90 points to a low of 18,326. Nifty50 has been swinging between negative and positive zones after bouncing back from lows of the day. It is trading 40 points lower at 18,376 levels.
The October monthly series options have a sizable base 18,500 and 19,000 call options and 18,500 and 18,000 put options. Additions were seen at 18,600 call option and 18,300 put option.
Weekly options expiring on October 21, have sizable positions at 18,500 and 18,600 call options and 18,300 and 18,400 put options. Further additions were seen at 18,600 call options and 18,400 put options.
Nifty50 has immediate support at 18,300 and resistance at 18,600 levels.
Bank Nifty
Bank Nifty bounced from the day’s low of 39,292. It is trading 100 points higher at 39,647 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.
Weekly options expiring on October 21, have a sizable base at 39,800 and 40,000 call options and 39,500 and 39,000 put options. Additions were seen at 39,800 call option and 39,500 put option.
Bank Nifty has immediate support at 39,300 and resistance at 40,000 levels.
Stock Action
Today’s top gainers are Idea, Bharti Airtel, SBI, L&T Infotech and ACC.
Today’s top losers are IRCTC, Deepak Nitrite, IEX, Dixon Technologies and Navin Fluorine.
Sector Update
PSU Banks and Media sectors are seeing buying interest today with stocks like SBI, Canara Bank, Bank of Baroda, Zee Entertainment and Sun TV trading in the green.
Metals and Auto sectors are seeing selling pressure today with stocks like NALCO, Hindalco, Vedanta, Balkrishna Industries and Eicher Motors trading in the red.
Global Markets Update
Major European markets are likely to open in the red as their futures are trading down by nearly 0.3%. US Futures are trading down by nearly 0.1%