F&O Mid-Market Update for 19 January 2022

Index Action

Nifty50

The Nifty50 continued to reel under selling pressure tracking weak global cues and slipped below 18,000. Profit-booking continues in IT sector for the third straight day while Oil & Gas stocks are up on the back of rising crude prices. At 12 pm today, it was trading 127 points lower at 17,985. 

For January 20 options contracts, the Nifty50 has sizable positions at 18,300 and 18,500 call options and 18,000 and 17,800 put options. Further, additions were seen in both 18,100 call options and 17,800 put options. 

The Nifty50 has immediate support at 17,700 and resistance is at 18,300 levels. 

Bank Nifty

After the opening volatility, the Bank Nifty is trading in a narrow range. At 12 pm today, it was trading 124 points lower at 38,085. 

For January 20 options contracts, the 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. 

The Bank Nifty has immediate support at 37,600 and resistance is at 38,800 levels. 

Stock Action 

Today’s top gainers are Biocon, Trent, GAIL, Bandhan Bank and ONGC. 

Today’s top losers are ICICI Prudential, L&T Technology, Mphasis, Godrej Properties and Birlasoft.  

Sector Update

Media and Energy emerged as the leading sectors. Stocks like Sun TV, PVR, ONGC, GAIL and IOC are trading in the green.

The IT and Realty sectors came under selling pressure. Stocks like L&T Technology, Mphasis, Mindtree and Godrej Properties are trading in the red. 

Global Markets Update

Major European markets are likely to open lower as their futures are trading in the range of -0.8% to -0.5%. US Futures are trading lower, down nearly 0.5%.