F&O Market Recap for 4 February 2022

Index Action 

Nifty50

The Nifty50 ended a choppy session lower after trading in the negative territory for the better part of the trading session. Losses in Financials and auto sectors dragged the index lower, while Metals and IT provided a cushion. The Nifty50 settled at 17,517, down 0.2%.

The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 18,500 call options and 16,500 and 17,000 put options. 

The Nifty50’s weekly options expiring on February 10 have sizable positions at 17,800 and 18,000 call options and 17,500 and 17,000 put options. 

As per the options data, the broad range for the Nifty50 is between 16,600 and 18,600 levels. Its immediate support is at 17,200 and resistance is at 18,000 levels.

Bank Nifty

Amidst profit booking, the Bank Nifty slipped lower and dropped 220 points to close at 38,789. Barring HDFC Bank, all the 11 stocks of the Nifty Bank closed in red.

The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 40,000 call options and 38,000 and 37,000 put options. 

The Bank Nifty’s weekly options expiring on February 10 have sizable positions at 40,000 and 39,500 call options and 38,000 and 38,500 put options. 

As per the options data, the broad range for the Bank Nifty, is between 37,400 and 40,500 levels. Its immediate support is at 38,000 and resistance is at 39,800 levels. 

Stock Action

Today’s top gainers were Torrent Power, Hindustan Copper, Chola Investments, Vedanta and Marico. 

Today's top losers were Godrej Properties, FSL, M&M Financial, Coromandel and SBI Cards, 

Sector Update 

Metals and IT emerged as the leading sectors with buying interest. Stocks like Hindustan Copper, Vedanta, Hindalco, Mindtree and Mphasis closed in the green.

The Realty sector and PSU Banks came under selling pressure today. Stocks like Godrej Properties, DLF, Bank of Baroda, PNB and SBI closed in the red.

Major News 

Oil prices surged to a fresh seven-year high near $92 a barrel. The crude oil prices have continued their upward momentum in 2022. The demand revival, geopolitical tensions, and supply disruption have fuelled the prices of the black liquid.