F&O Market Recap for 28 October 2021

Nifty50

Nifty50 saw selling across the board today and slumped below 17,900 levels. It is now down about 4% from its highs of 18,604. Today, Nifty50 closed 353 lower at 17,857.  

Monthly options expiring on November 25 are scattered and have sizable positions at 19,000 and 18,500 call options and 17,500 and 17,000 put options.   

Weekly options expiring on November 3, have a sizable base at 18,000 and 18,300 call options and 17,500 and 17,800 put options. 

The broad range for Nifty50, as per options data, is  between 17,000 and 18,500 levels and its immediate support is at 17,600 and resistance is at 18,100 levels.

Bank Nifty

Bank Nifty plunged 1,365 points today and closed at 39,508. Bank Nifty has now corrected over 5% from its highs of 41,829. 

Monthly options expiring on November 25 are scattered and have sizable positions at 41,000 and 41,500 call options and 39,000 and 38,000 put options.   

Weekly options expiring on November 3, have a sizable base at 41,000 and 40,500 call options and 40,000 and 39,500 put options. 

The broad range for Bank Nifty, as per the options data, is between 38,000 and 41,500 levels. Its Immediate support is at 39,000 and resistance is at 40,200 levels. 

Stock Action

Today’s top gainers were TVS Motors, Metropolis, JK Cement, IndusInd Bank and Dalmia Bharat. 

Today's top losers were IRCTC, Adani Enterprises, PNB, Tata Chemicals and Adani Ports. 

Sector Update

All Nifty sectoral indices closed in the red today.

PSU Banks, Realty and Metals came under selling pressure. Stocks like PNB, Bank of Baroda, Godrej Properties, Adani Enterprises and Vedanta closed in the red.