F&O Market Recap for 14 October 2021

Index Action: 

Nifty50

Nifty50 continued its stellar run and posted its 6 consecutive positive closing today. It closed near day’s high at record levels of 18,338, up by 176 points. 

The monthly October series have a sizable base at 18,500 and 19,000 call options and 18,000 and 17,500 put options. Additions were seen at 18,350 call options and 18,000 put options. 

Weekly options expiring on October 21 saw sizable positions at 18,350 and 18,500 call options and 18,100 and 18,000 put options. Heavy additions were seen at 18,350 call and 18,100 put options today. 

The broad range for Nifty50, as per options data, is 17,500 and 19,000 levels and its immediate support and resistance levels are 17,900 and 18,500 respectively.

Bank Nifty

Bank Nifty comfortably crossed the 39,000 mark today. It closed 705 points higher at 39,340 levels.  

The monthly options for October series have sizable positions at 39,500 and 40,000 call options and 38,000 and 37,500 put options. 

Weekly options expiring on October 21 have sizable positions at 39,500 and 40,000 call options and 39,000 and 38,500 put options. 

The broad range for Bank Nifty, as per the options data, is 38,000 and 40,000. Immediate support and resistance levels for Bank Nifty are at 39,000 and 39,700 levels. 

Stock Action:

Today’s Top Gainers were IRCTC, India Cements, Mindtree, Adani Ports and Wipro. 

Today's Top Losers were Coal India, BHEL, GMR Infra, Motherson Sumi and Metropolis. 

Sector Update

Bank and Metal sectors were the leading sectors today with stocks like HDFC Bank, PNB, ICICI Bank, Adani Enterprises and Vedanta closing in the green. 

Auto sector was the only sector in the red today with stocks like Tata Motors, Eicher Motors, Ashok Leyland and MRF closing lower due to profit-booking.  

Major News

Brent crude crossed $84 per barrel again due to the ongoing energy crisis. Rising natural-gas and coal prices are pushing power companies to switch to oil. 

Zinc prices have surged as the energy crisis worsens. Nystar, a global leading metal producer, has announced it will be cutting output due to increasing power prices.