F&O Mid-Market Update for 20 January 2022

Index Action

Nifty50

The Nifty50 extended losses with constant selling pressure seen in IT and Pharma heavyweights. At 12 pm today, it was trading 152 points lower at 17,785. 

For January 20 options contracts, the Nifty50 has sizable positions at 18,000 and 17,900 call options and 17,800 and 17,500 put options. Further, additions were seen in both 17,900 call options and 17,800 put options. 

The Nifty50 has immediate support at 17,600 and resistance is at 18,200 levels. 

Bank Nifty

The Bank Nifty opened higher and traded in the green before volatility kicked in and it slipped below 38,000. At 12 pm today, it was trading 122 points lower at 37,919. 

For January 20 options contracts, the Bank Nifty has sizable positions at 38,000 and 38,200 call options and 37,500 and 38,000 put options. Further additions were seen at 38,000 call options and 37,700 put options. 

The Bank Nifty has immediate support at 37,500 and resistance is at 38,600 levels. 

Stock Action 

Today’s top gainers are Chola Investments, Apollo Hospitals, Power Grid, Shriram Transport Finance and Syngene International. 

Today’s top losers are Oracle Financial Services, Tata Communications, Bajaj Auto, ICICI Lombard and MRF.  

Sector Update

Metal and PSU Banks emerged as the leading sectors. Stocks like Hindustan Copper, Coal India, Jindal Steel and Power, Canara Bank and Bank of Baroda are trading higher.

The IT and Pharma sectors declined the most. Stocks like Coforge, Infosys, HCL Technologies, Dr.Reddys and Divis Labs are trading in the red. 

Global Markets Update

Major European markets are likely to open higher as their futures are trading in the range of 0.2% to 0.5%. US Futures are trading higher, up nearly 0.4%.