F&O Market Recap for 17 February 2022

Index Action

Nifty50

The Nifty50 registered yet another volatile day as it crossed 17,400 multiple times but failed to sustain at that level. It ended the day 17 points lower at 17,304. Losses in Banking, Pharma and IT sectors dragged the index lower, while Oil & Gas and FMCG sectors provided support.  

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

As per options data, the broad range for the Nifty50 is between 16,200 and 18,200 levels. Its immediate support is at 16,900 and resistance is at 17,800 levels.

Bank Nifty

The Bank Nifty declined more than 1% today but closed just above the 37,500 mark. It fell 422 points to 37,531. The overall breadth of the index remained weak, and all the 12 stocks of Bank Nifty closed in red.  

The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 38,500 and 39,000 call options and 37,500 and 37,000 put options. 

As per options data, the broad range for the Bank Nifty, is between 36,300 and 39,900 levels. Its immediate support is at 37,100 and resistance is at 38,900 levels. 

Stock Action

Today’s top gainers were Shriram Transport Finance, Navin Fluorine, Page Industries, ICICI Prudential and Tata Consumer Products. 

Today's top losers were Hindustan Copper, Muthoot Finance, Alembic Pharma, Indiamart and Manappuram. 

Sector Update

Oil & Gas and FMCG emerged as the leading sectors. Stocks like ONGC, Reliance Industries, Power Grid, Tata Consumer Products and Marico closed in the green.

Banking and Pharma sectors came under selling pressure. Stocks like RBL Bank, ICICI Bank, Axis Bank, Aurobindo Pharma and Glenmark Pharma closed in the red.

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