F&O Market Recap for 11 April 2022

Index Action

Nifty50

Amid negative cues from the Asian markets, the Nifty50 started the holiday-trimmed week on a negative note. It closed 109 points lower at 17,674. Losses in IT and financial stocks dragged the index lower, while oil & gas and realty stocks lent support.

The Nifty50’s monthly options expiring on April 28 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 13 have sizable positions at 17,800 and 18,000 call options and 17,700 and 17,500 put options.

As per options data, the broad range for Nifty50 is between 17,000 and 18,800 levels. Its immediate support is at 17,400, and resistance is at 18,100 levels.

Bank Nifty

After a gap-down opening, the Bank Nifty bounced back from the lows of 37,500 and crossed the 37,900 mark. However, with index heavyweights HDFC Bank and Axis Bank declining more than 1%, the Bank Nifty failed to hold gains and fell 138 points to 37,613.

The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 38,000 and 39,000 call options and 36,000 and 37,000 put options.

The Bank Nifty’s weekly options expiring on April 13 have sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options.

As per the options data, the broad range for the Bank Nifty is between 36,500 and 39,500 levels. Its immediate support is at 37,100, and resistance is at 38,200 levels.

Stock Action

Today's top gainers were Ambuja Cements, Sun TV, Oberoi Realty, HAL and Torrent Power.

Today's top losers were Persistent, Vodafone Idea, GNFC, L&T Technology Services and Pidilite.

Sector Update

The Oil & Gas and Realty sectors were the top gainers. Stocks like Gujarat Gas, HPCL, GAIL, Oberoi Realty and DLF closed in the green.

The IT and Financial Services sectors came under selling pressure. Stocks like L&T Technology Services, Infosys, HCL Tech, HDFC Bank and Axis Bank closed in the red.

Major News

India’s fuel consumption jumped 4.2% year-on-year in March, according to the data released from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry.