Post market update (1st Nov)

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Nifty

The flagship index of the Indian market initiated trading with a consecutive second-day decline, maintaining a downward trajectory throughout the intraday session, eventually closing below the psychological 19000 threshold.

Potential resistance is anticipated within the 19200-19300 range, while immediate support is firmly anchored at the 18800 level.

FII net sell stands at -1816.91 crores and DII net buy stands at 1622.05 crores.

Nifty Bank

The Bank Nifty remained entrenched within a robust 200-point range during the weekly expiry, forming a doji candle. It concluded the day with a net loss of 0.34%, settling at the 42700 level.
Likely support is discernible within the 42400-42500 zone, with an immediate hurdle at the 43200-43400 range.

Midcap and Smallcap

Both the BSE Midcap and Smallcap segments grappled with persistent selling pressure from recent highs, resulting in a gradual descent during the trading session. The Midcap indices and Smallcap indices recorded declines of -0.35% and -0.10%, respectively, for the day.
Exercising prudence is advisable for long positions, and a conservative approach to open positions is recommended. This juncture underscores the importance of emphasizing sector rotation and concentrating on stock-specific movements.
Potential resistance levels are identified at 31650 and 37300, with probable support located at 30500 and 36000 for the BSE Midcap and Small indices, respectively.

PCR

The Put-Call Ratio (PCR) registers at 0.68 and 0.86 for Nifty and Bank Nifty, respectively, signifying a neutral outlook for the present expiry period.
The highest call Open Interest (OI) concentrates at the 19,100 strike, while the most significant put OI is positioned at 18800 for Nifty's weekly expiry.
In the realm of Bank Nifty, the 43,000 CE retains the highest OI, whereas the highest put OI is situated at 42500 for the weekly expiry.

VIX

The Volatility Index (VIX) concluded the session at 12.04, marking an approximate 2% increase, indicating an uptick in volatility during today's trading session.

Sectors Update

Within the sectoral landscape, Realty and Media sustained their outperformance, recording gains of 1.6% and 0.9%, respectively. On the converse, significant underperformance was observed in the Metals and IT sectors, with declines of -1.4% and -0.8%, respectively, for the day.

Advance Decline

In the broader market, minimal changes were evident, with 1225 stocks advancing, 1162 stocks declining, and 94 stocks remaining unchanged within the NSE universe throughout the day.

 

About the Author

Ankit Jaiswal, our Senior Equity Research Analyst at Univest, brings over 8 years of experience in the stock market, financial analysis, and investing. With qualifications including the NISM Series VIII Equity Derivatives Certification and CMT Level 2, he's a key asset, driving the insightful contributions to our research team.

Note – This channel is for educational and training purposes only & any stock mentioned here should not be taken as a tip/recommendation/advice

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