F&O Market Recap for 29 October 2021

Index Action

Nifty50

With high volatility, Nifty50 saw extended selling pressure as it closed 185 points lower at 17,671.  

Monthly options expiring on November 25 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 18,200 call options and 17,500 and 17,800 put options. Additions were seen at 18,000 call option and 17,500 put option.

As per options data, the broad range for Nifty50, is between 17,000 and 18,500 levels.  Its immediate support is at 17,500 and resistance is at 18,100 levels.

Bank Nifty

Bank Nifty recovered from the lows of 38,426 but saw yet another negative closing. It closed 393 points lower at 39,115. 

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

Weekly options expiring on November 3, have a sizable base at 40,000 and 41,000 call options and 39,000 and 38,000 put options. 

As per the options data, the broad range for Bank Nifty is between 38,000 and 41,500 levels. Its immediate support is at 38,700 and resistance is at 40,000 levels. 

Stock Action

Today’s top gainers were Canara Bank, Indigo, United Spirits, NMDC and Lupin. 

Today's top losers were RBL Bank, Atul Ltd., IRCTC, SBI Card and Laurus Labs. 

Sector Update

PSU Banks and Media saw buying interest and have emerged as the leading sectors today. Stocks like Canara Bank, PNB, SBI, Sun TV and Zee Entertainment closed in the green. 

The IT and Financial Services sectors came under selling pressure today. Stocks like Tech Mahindra, Coforge, Infosys, M&M Financial Services and Shriram Transport Finance closed in the red.