Nifty50
Profit-booking continues on the Nifty50 as it hit a low of 18,002. It has seen a bounce back from the lows but trades firmly in the red. Nifty50 is trading 140 points lower at 18,070 levels.
Today is the expiry of October 28 series contracts.
The October monthly series options have a sizable base at 18,200 and 18,300 call options and 18,000 and 17,800 put options. Additions were seen at 18,100 call options and 18,000 put options.
Nifty50 has immediate support at 17,900 and resistance at 18,300 levels.
Bank Nifty
Bank Nifty too is under selling pressure as it hit a low of 40,032.
The October monthly options for Bank Nifty have a sizable base at 41,000 and 40,500 call options and 40,000 and 39,500 put options. Further additions were seen in 40,500 call options and 40,000 put options strikes.
Bank Nifty has immediate support at 39,800 and resistance is at 40,500 levels.
Stock Action
Today’s top gainers are United Spirits, Indusind Bank, Torrent Power, Metropolis and Bandhan Bank.
Today’s top losers are IRCTC, PNB, Tata Chemicals, OFSS and Deepak Nitrite.
Sector Update
No major indices are trading in the green today.
PSU Banks and Realty sectors are seeing selling pressure followed by Metals. Stocks like PNB, Godrej Properties, Oberoi Realty, Adani Enterprises and Coal India are trading in the red.
Global Markets Update
Major European markets are likely to open positive as their futures are trading flat with a positive bias, up by nearly 0.2%. US Futures are trading positive, up by almost 0.2%.