Nifty50
Nifty50 touched a low of 17,777 and bounced back. It is trading 40 points up at 17,864 levels.
October monthly series call options have significant bases at the highest base 18,000 and 18,500 levels and put options still have significant bases at 17,500 and 17,000 levels. 17,800 call and put options have seen further additions today suggesting that this can be a pivotal level for Nifty50 for the coming days.
Weekly options expiring on October 7 have added further positions at 17,900 and 18,000 levels. put options have sizable positions at 17,500 and 17,700 levels.
Options data suggests immediate support and resistance at 17,700 and 18,000 levels.
Bank Nifty
Bank Nifty continues to trade with upward momentum. It is trading 300 points higher at 38,050 levels.
October monthly call options for Bank Nifty maintained their sizable positions at 38,000 and 38,500 strikes. Put options now have sizable positions at 37,500 and more additions were seen today at the 38,000 strike.
Weekly options expiring on October 7 have significant bases at 38,000 and 38,500 strikes and put options have significant bases at 38,000 and 37,500 strikes.
Based on the options data, Bank Nifty has immediate support at 37,700 and resistance at 38,400 levels.
Global Markets Update
Major European markets have opened negative today and are trading down by almost 1%. US Futures are also trading in the red, with the Dow Futures trading down by 140 points.
Stock Action: (Top Gainers and Top Losers in Futures segment)
Today’s top gainers are BOSCH, IRCTC, Deepak Nitrite, Tata Chemicals and Indiabulls Hsg.
Today’s top losers are Astral, NALCO, RBL Bank, SBI Life and Jubilant Food.
Sector Update: (Top gainer sectors and Top Loser sectors)
Banks, Financial Services and Energy sectors are seeing buying interest today. Stocks like Chola Fin. HDFC Bank, Axis Bank and ONGC are trading in the green in these sectors.
Metals and Pharma are under pressure today. Stocks like Nalco, Hindalco, Sun Pharma and Alkem Labs are trading in the red in these sectors.