F&O Mid-Market Update for 10 January 2022

Index Action

Nifty50

The Nifty50 started on a strong note and has been trading in a narrow range of nearly 100 points.At 12 pm today, it was trading 95 points higher at 17,908.

For January 13 options contracts, Nifty50 has sizable positions at 18,000 and 18,500 call options and 17,500 and 17,800 put options. Further, additions were seen in 18,000 call options and 17,800 put options.

The Nifty50 has immediate support at 17,500 and resistance is at 18,300 levels. 

Bank Nifty

Bank Nifty opened higher and saw profit-booking after hitting a high of 38,261. At 12 pm today, it was trading 249 points higher at 37,988. 

For January 13 options contracts, Bank Nifty has sizable positions at 38,500 and 38,200 call options and 38,000 and 37,500 put options. Further additions were seen at 38,200 call options and 38,000 put options. 

Bank Nifty has immediate support at 37,200 and resistance is at 38,600 levels. 

Stock Action 

Today’s top gainers are BHEL, Federal Bank, PVR, Maruti Suzuki and HDFC AMC. 

Today’s top losers are Ipca Labs, Coforge, SBI Cards, Wipro and PI Industries. 

Sector Update

Auto and PSU Banks with buying interest have emerged as the leading sectors today. Stocks like Maruti Suzuki, Hero MotoCorp, Tata Motors, Bank of Baroda and Canara Bank are trading in the green.

The Pharma sector came under selling pressure today. Stocks like Ipca Laboratories, Dr.Reddys, Divis and Biocon are trading in the red. 

Global Markets Update

Major European markets are likely to see a mixed opening as their futures are trading in the range of -0.4% to +0.1%. US Futures are trading flat with a negative bias, down nearly 0.05%.