F&O Market Recap for 9 March 2022

Index Action 

Nifty50

Bulls were in complete control of the Nifty50 as it gained over 2% and crossed the 16,400 mark. All sectors, barring Metal, closed in green. The Nifty50 jumped 331 points to 16,345. Out of the Nifty50 pack, 38 stocks closed in green.

The Nifty50’s monthly options expiring on March 31 are scattered and have sizable positions at 17,000 and 16,500 call options and 16,000 and 15,500 put options. 

The Nifty50’s weekly options expiring on March 10 have sizable positions at 16,500 and 16,400 call options and 16,000 and 16,200 put options. 

As per options data, the broad range for the Nifty50 is between 15,100 and 17,100 levels. Its immediate support is at 15,800 and resistance is at 16,700 levels.

Bank Nifty

The Bank Nifty shed the morning weakness and rallied to 34,000 levels. With turn around in private banks, all the 12 stocks of the index closed higher. The Bank Nifty climbed 738 points to 33,896.

The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 35,000 and 36,000 call options and 33,000 and 32,000 put options. 

The Bank Nifty’s weekly options expiring on March 10 have sizable positions at 35,000 and 34,000 call options and 33,000 and 32,000 put options. 

As per options data, the broad range for the Bank Nifty is between 30,500 and 35,800 levels. Its immediate support is at 32,800 and resistance is at 34,700 levels. 

Stock Action

Today’s top gainers were Indiabulls Housing Finance, Dalmia Bharat, Ashok Leyland, Dr. Lal Pathlabs and Indigo. 

Today's top losers were Coforge, Petronet LNG, Bosch, ONGC and GAIL.  

Sector Update 

Realty and Auto emerged as the leading sectors with buying interest. Stocks like Oberoi Realty, Godrej Properties, DLF, Ashok Leyland and M&M closed in green.

The Metal sector came under selling pressure. Stocks like Vedanta, Hindustan Copper and Coal India closed in the red.

Major News 

The Union Cabinet has approved the formation of National Land Monetisation Corporation (NLMC). The NLMC will be a wholly-owned Government of India company that will undertake the monetisation of surplus land and buildings of the Government and Central Public Sector Enterprises.