F&O Mid-Market Update for 17 January 2022

Index Action

Nifty50

The Nifty50 was seen consolidating in the first session after a bounce from the marginally lower opening. Auto stocks are the leading pack whereas Metal stocks are under pressure. At 12 pm today, it was trading 51 points higher at 18,307. 

For January 20 options contracts, the Nifty50 has sizable positions at 18,300 and 18,400 call options and 18,000 and 18,200 put options. Further, additions were seen in 18,300 call options and 18,000 put options. 

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

Bank Nifty

The Bank Nifty’s initial attempt at trading higher was sold into, and it slipped back into the red. Heavyweight private banks, Axis Bank and HDFC Bank are trading lower. At 12 pm today, it was trading 70 points lower at 38,300. 

For January 20 options contracts, the 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. 

The Bank Nifty has immediate support at 37,800 and resistance is at 39,000 levels. 

Stock Action 

Today’s top gainers are Hero Motocorp, Exide, Apollo Tyres, Amara Raja Batteries and HAL. 

Today’s top losers are Granules, HCL Tech, NALCO, Dr. Lal Pathlabs and Vedanta. 

Sector Update

Auto and Realty emerged as the leading sectors with buying interest today. Stocks like Hero Motocorp, Exide Industries, Amara Raja Batteries, Godrej Properties and DLF are trading in the green.

Metal and Pharma sectors, followed by Auto, came under selling pressure today. Stocks like Vedanta, NALCO, SAIL, Granules and Laurus Labs 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 -0.4% to +0.05%. US Futures are trading lower, down nearly 0.1%.