F&O Mid-Market Update for 3 January 2022

Index Action

Nifty50

Nifty50 opened higher on the first trading session of 2022. Gains across most sectors, led by Auto and Banking stocks pushed the index higher and it crossed the psychological level of 17,500. At 12 pm today, it was trading 177 points higher at 17,531.

For January 6 options contracts, Nifty50 has sizable positions at 17,500 and 17,700 call options and 17,300 and 17,400 put options. Further, additions were seen in 17,700 call options and 17,300 put options.

Nifty50 has immediate support at 17,100 and resistance is at 17,800 levels. 

Bank Nifty

With fresh buying interest in PSU and Private banks, Bank Nifty opened higher and gained further. At 12 pm today, it was trading 494 points higher at 35,976.

For January 6 options contracts, Bank Nifty has sizable positions at 36,000 and 36,500 call options and 35,500 and 35,000 put options. Further additions were seen at 36,000 call options and 35,500 put options. 

Bank Nifty has immediate support at 35,000 and resistance is at 36,600 levels. 

Stock Action 

Today’s top gainers are Eicher Motors, Birlasoft, FSL, Oberoi Realty and Coal India. 

Today’s top losers are Rain Industries, Cipla, Laurus Labs, Indigo and Balkrishna Industries. 

Sector Update

Realty and Auto have emerged as the leading sectors with buying interest. Stocks like Oberoi Realty, Godrej Properties, DLF, Eicher Motors and Ashok Leyland are trading in the green.

The Pharma sector came under selling pressure. Stocks like Laurus Labs, Cipla and Dr.Reddy’s are trading in the red. 

Global Markets Update

Major European markets are likely to open mixed as their futures are trading in the range of -0.3% to +0.2%. US markets are expected to open higher as the US Futures are trading in the green, up nearly 0.3%.