F&O Market Recap for 3 March 2022

Index Action 

Nifty50 

Nifty50 remained volatile and declined for the second session. It failed to sustain its opening gains and gradually slipped lower. Losses in Auto and Financial stocks dragged the index lower, while IT and Oil & Gas lent support. The Nifty50 ended 107 points lower at 16,498.

The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 18,000 and 17,500 call options and 16,500 and 16,000  put options. 

The Nifty50’s weekly options expiring on March 10 have sizable positions at 17,000 and 16,700 call options and 16,000 and 16,500 put options. 

As per options data, the broad range for the Nifty50 is between 15,500 and 17,600 levels. Its immediate support is at 16,100 and resistance is at 17,000 levels.

Bank Nifty

The Bank Nifty continued to underperform the benchmark indices. Losses across private and PSU banks dragged the index below 35,000 mark, and only 1 out of 12 stocks closed in the green. The Bank Nifty dropped 428 points to 34,944.

The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 38,000 and 37,000 call options and 35,000 and 34,000 put options. 

The Bank Nifty’s weekly options expiring on March 10 have sizable positions at 35,000 and 36,000 call options and 35,000 and 34,000 put options. 

As per options data, the broad range for the Bank Nifty, is between 33,600 and 37,300 levels. Its immediate support is at 34,300 and resistance is at 35,800 levels. 

Stock Action

Today’s top gainers were Persistent, Vodafone Idea, ONGC, HPCL and UPL. 

Today's top losers were Gujarat Gas, United Breweries, Ashok Leyland, Ultratech Cement and Escorts. 

Sector Update 

Among the sectors, Oil & Gas and IT emerged as the leading sectors with buying interest today. Stocks like ONGC, GAIL, Coforge, LTI and Wipro closed in the green. 

The Auto and Banking sectors came under selling pressure today. Stocks like Ashok Leyland, Eicher Motors, Maruti Suzuki, AU Small Finance Bank and Bandhan Bank closed in the red.

Major News 

As per reports, LIC IPO may be postponed to the next fiscal year due to the volatility in the markets caused by the Russian-Ukraine conflict.