Index Action
Nifty50
Nifty50 opened higher and has been trading steadily above 17,900. It is trading 23 points higher at 17,912.
Today is the expiry for the November 3 weekly contracts.
For weekly expiry (November 3), the Nifty50 has sizable positions at 18,000 and 18,200 call options and 17,800 and 17,500 put options. Further additions were seen in both 18,000 call and put options.
The Nifty50 has immediate support at 17,800 and resistance at 18,100 levels.
Bank Nifty
Bank Nifty is trading in a narrow range today. It held on to 39,900 for the most part of the first half before slipping into the red. It is trading 149 points down at 39,788.
For weekly expiry (November 3), Bank Nifty has sizable positions at 40,000 and 40,500 call options and 40,000 and 39,500 put options. Further, additions were seen at 40,100 call options and 40,000 put options.
Bank Nifty has immediate support at 39,500 and resistance at 40,200 levels.
Stock Action
Today’s top gainers are Trent, L&T, Oberoi Realty, UPL and HPCL.
Today’s top losers are Balkrishna Industries, Bandhan Bank, IRCTC, Cummins and Escorts.
Sector Update
The Realty and Metal sectors have emerged as the leading sectors with buying interest today. Stocks like Oberoi Realty, Godrej Properties, Hindalco and Vedanta are trading in the green.
The Pharma and FMCG sectors are seeing selling pressure today. Stocks like Divis Lab, Sun Pharma, Torrent Pharma, Marico and Britannia are trading in the red.
Global Markets Update
Major European markets are likely to open mixed as their futures are trading in a range of -0.1% to +0.5%. US Futures are trading negative, down by almost 0.1%.