Index Action
Nifty50
Nifty50 opened higher but profit booking set in immediately and has continued to drag the index down in the first half of the day so far. Nifty is trading 80 points lower at 18,187 levels.
The October monthly series options have a sizable base at 18,500 and 18,400 call options and a18,000 and 17,500 put options. Additions were seen at 18,400 call options and 18,200 put options.
Weekly options expiring today have sizable positions at 18,300 and 18,400 call options and 18,000 and 17,800 put options. Further additions were seen at 18,300 call options and 18,000 put options.
Nifty50 has immediate support at 18,000 and resistance at 18,300 levels.
Bank Nifty
Bank Nifty was seen holding the positive territory. It is trading 105 points higher at 39,622 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 today have sizable positions at 39,700 and 40,000 call options and 39,500 and 39,000 put options. Additions were seen at 39,700 call options and 39,400 put options.
Bank Nifty has immediate support at 39,300 and resistance at 39,800 levels.
Stock Action
Today’s top gainers are Strides Pharma, PNB, HPCL, Federal Bank and IOC.
Today’s top losers are Havells India, Mindtree, L&T Tech. Coforge and L&T Finance.
Sector Update
PSU Bank is the only major index witnessing significant buying interest today. Stocks like PNB, Bank of Baroda and Canara Bank are trading in the green.
The IT and Consumption sectors are facing selling pressure today followed by Metals. Stocks like Mindtree, Coforge, Jubilant Foodworks, Voltas and Hindalco are trading in the red.
Global Markets Update
Major European markets are likely to open in the red as their futures are trading down in the range of -0.1% to -0.3%. US Futures are trading down by nearly 0.2%