F&O Mid-Market Update for 14 January 2022

Index Action

Nifty50

Nifty50 followed global markets and opened lower. It rose immediately but in all major sectors hindered its cross over to the positive territory. At 12 pm today, it was trading 84 points lower at 18,172. 

For January 13 options contracts, Nifty50 has sizable positions at 18,200 and 18,300 call options and 18,000 and 18,200 put options. Further, additions were seen in both 18,200 call and put options. 

Nifty50 has immediate support at 17,700 and resistance is at 18,500 levels. 

Bank Nifty

Bank Nifty opened lower and slid further after an immediate bounce as both PSU banks and private banks face selling pressure.. At 12 pm today, it was trading 363 points lower at 38,106. 

For January 20 options contracts, Bank Nifty has sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options. Further additions were seen at 38,500 call options and 38,000 put options. 

Bank Nifty has immediate support at 38,000 and resistance is at 39,200 levels. 

Stock Action 

Today’s top gainers are RBL Bank, India Cements, Tata Consumer, IRCTC and Voltas. 

Today’s top losers are Motherson Sumi, Mindtree, Aurobindo Pharma, Au Small Finance Bank and Asian Paints. 

Sector Update

No major sectoral index is trading in the green so far. 

Banking and Pharma sectors, followed by Auto, are seeing selling pressure today. Stocks like Au Small Finance Bank, Axis Bank, Aurobindo Pharma, Alkem Labs, and M&M 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 -1.3% to +0.1%. US Futures are trading higher, up nearly 0.1%.