Index Action
Nifty50
Nifty50 opened lower and has been under strong selling pressure in the first half of the trade today. It is trading 242 points lower at 17,522.
For November 25 options contracts, the Nifty50 has sizable positions at 18,000 and 17,800 call options and 17,500 and 17,400 put options. Further additions were seen in 17,800 call options and 17,500 put options.
The Nifty50 has immediate support at 17,400 and resistance at 18,000 levels.
Bank Nifty
Bank Nifty too has seen no respite as it continues to slide down along with the broader markets. It is trading 654 points lower at 37,321.
For November 25 options contracts, Bank Nifty has sizable positions at 38,000 and 38,500 call options and 37,000 and 37,500 put options. Further additions were seen at most near out-of-the money call options including 37,500 call options and 37,000 put options.
Bank Nifty has immediate support at 37,000 and resistance at 38,300 levels.
Stock Action
Today’s top gainers are Vodafone Idea, Bharti Airtel, Vedanta, Havells and NALCO.
Today’s top losers are Info Edge, GMR Infra, Dixon Technologies, Indigo and Bajaj Finance.
Sector Update
Among the major sectors, only the Metal sector is witnessing buying interest with stocks like Vedanta, NALCO and Hindalco trading in the green.
PSU Banks and Media sector, followed by Realty, are seeing selling pressure today. Stocks like Bank of Baroda, SBI, PVR, Zee Entertainment and DLF are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading in the range of -0.6% to +0.3%. US Futures are trading higher, up by nearly 0.3%.