F&O Market Recap for 3 December 2021

Index Action 

Nifty50

Nifty50 saw a sharp sell-off as many states have reported cases of the new Omicron variant. It closed 204 points lower at 17,196.

Nifty50 monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options. 

Nifty50 weekly options expiring on December 9 have sizable positions at 17,500 and 17,400 call options and 17,000 and 17,200 put options. 

As per options data, the broad range for Nifty50 is between 16,150 and 18,200 levels, and its immediate support is at 16,800, and resistance is at 17,600 levels.

Bank Nifty

Bank Nifty had a steady first half but heavy selling pressure in the second half saw it drop nearly 800 points from the day’s high. It closed 311 points lower at 36,197. 

Bank Nifty monthly options expiring on December 30 have sizable positions at 38,000 and 37,500 call options and 36,000 and 35,000 put options. 

Bank Nifty weekly options expiring on December 9 have sizable positions at 37,000 and 36,500 call options and 35,500 and 36,000 put options. 

As per the options data, the broad range for Bank Nifty is between 34,700 and 37,900. Immediate support is at 35,600, and resistance is at 36,900 levels. 

Stock Action

Today’s top gainers were Vodafone Idea, Indian Hotels, Deepak Nitrite, GMR Infra and NMDC. 

Today's top losers were IEX, Gujarat Gas, Indiamart, Apollo Hospital and Reliance. 

Sector Update 

Media sector emerged as the leading sector today with buying interest. Stocks like Zee Entertainment and PVR closed in the green. 

Financial Services, FMCG along with the Infrastructure sector, saw selling pressure today. Stocks like Kotak Mahindra Bank, HDFC Life, ITC, HUL and Reliance Industries closed in the red.

Major News

World Health Organization (WHO) has deployed a team to South Africa to ramp up surveillance measures as new cases of the Omicron variant are starting to emerge globally. Countries like Australia, Malaysia, Sri Lanka have reported cases of the new variant. Back home in India, 2 cases of the new variant have been confirmed in Karnataka.