F&O Market Recap for 5 April 2022

Index Action 

Nifty50

The Nifty50 snapped the two-day winning momentum in a volatile session and ended below the 18,000-mark. Profit-booking in banking and financial stocks dragged the index lower, while gains in auto, power and FMCG stocks lent support. The Nifty50 fell 96 points to 17,957.

The Nifty50’s monthly options expiring on April 28 are scattered and have sizable positions at 18,000 and 19,000 call options and 17,500 and 17,000 put options. 

The Nifty50’s weekly options expiring on April 7 have sizable positions at 18,000 and 18,100 call options and 18,000 and 17,500 put options. 

As per options data, the broad range for the Nifty50 is between 17,100 and 18,800 levels. Its immediate support is at 17,600 and resistance is at 18,300 levels.

Bank Nifty

Amid profit-booking in banking stocks, the Bank Nifty fell more than 1.4% but it managed to close above the 38,000 mark. With 10 out of 12 bank stocks closing lower, the Bank Nifty dropped 567 points to close at 38,067.

The Bank Nifty’s monthly options expiring on April 28 are scattered and have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,000 put options. 

The Bank Nifty’s monthly options expiring on April 7 have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,000 put options. 

As per options data, the broad range for the Bank Nifty is between 36,600 and 39,600 levels. Its immediate support is at 37,600 and resistance is at 38,800 levels. 

Stock Action

Top gainers: Metropolis, Tata Power, Polycab, Havells and Dixon Technologies. 

Top losers: Federal Bank, SBI Cards, Delta Corp, HDFC Bank and Kotak Mahindra Bank. 

Sector Update 

The Auto and Media sectors witnessed buying interest. Stocks like Escorts, Tata Motors, Ashok Leyland and PVR closed in the green.

The Financial Services and Banking sectors came under selling pressure. Stocks like SBI Cards, Bajaj Finserv, Federal Bank, Kotak Mahindra Bank and HDFC Bank closed in the red.

Major News 

In March, domestic passenger vehicle retail sales declined by 4.8% to 2,71,358 compared to last year's same month, said automobile dealers' body FADA. Total sales across categories, including commercial, two-wheeler, and three-wheeler vehicles, declined by 2.87%.