F&O Mid-market Update for 22 October 2021

Index Action

Nifty50

After 3 days of profit-booking, Nifty50 saw buying interest today as it touched a high of 18,314. It has cooled off from the day’s high and is trading 20 points higher at 18200 levels. 

The October monthly series options have a sizable base 18,500 and 18,400 call options and at 18,000 and 18,200 put options. Additions were seen at 18,300 call options and 18,200 put options. 

Nifty50 has immediate support at 18,000 and resistance at 18,300 levels. 

Bank Nifty

Bank Nifty continued its upward march and touched a high of 40,587. It is holding firmly in the green and is trading 400 points higher at 40,430 levels. 

The October monthly call options for Bank Nifty have sizable positions at 40,500 and 41,000 strikes. Put options have sizable positions at 40,000 and 39,500 strikes. Further additions were seen at 40,600 call options and 40,300 put options. 

Bank Nifty has immediate support at 39,800 and resistance at 40,600 levels. 

Stock Action

Today’s top gainers are TVS Motors, Muthoot Finance, Oberoi Realty, Shriram Transport Finance and Bajaj Finserv. 

Today’s top losers are Can Fin Homes, LIC Housing Fin, Mpahsis, Indiabulls Hsg and Vedanta.  

Sector Update

Realty and Banking sectors are the leading sectors today that are witnessing buying interest. Stocks like Oberoi Realty, Godrej Properties, RBL Bank, IDFC First Bank and AU Small Finance bank are trading in the green.

Metals and IT sectors are seeing selling pressure today. Stocks like Vedanta, Nalco, Hindalco, Mphasis and Infosys are trading in the red. 

Global Markets Update

Major European markets are likely to open in the green as their futures are trading with a positive bias; up in the range of 0.1% to 0.5%. US Futures are trading flat with a negative bias.