F&O Market Recap for 13 April 2022

Index Action 

Nifty50

After a gap-up opening, the Nifty50 ended the volatile session in the red. Losses in auto and financial services stocks dragged the index lower, while Oil & Gas, Pharma, and FMCG stocks cushioned the fall. The Nifty50 fell 54 points to 17,475.

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 21 have sizable positions at 18,500 and 18,000 call options and 17,500 and 17,000 put options. 

As per options data, the broad range for Nifty50 is between 16,600 and 18,400 levels. Its immediate support is at 17,300 and resistance is at 17,800 levels.

Bank Nifty

The Bank Nifty pared its initial gains and turned negative after hitting an intraday high of 37,988. Losses in index heavyweights like HDFC Bank and Kotak Mahindra Bank dragged the index lower, while gains in SBI capped the downside. Against this backdrop, the Bank Nifty declined 284 points and closed at 37,463.

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 21 have sizable positions at 38,000 and 38,500 call options and 37,500 and 37,000 put options. 

As per options data, the broad range for the Bank Nifty is between 36,200 and 38,800 levels. Its immediate support is at 36,900 and resistance is at 38,000 levels. 

Stock Action

Today’s top gainers were Chambal Fertilisers, IGL, ONGC, Ambuja Cements and Larsen & Toubro Infotech. 

Today's top losers were Can Fin Homes, Balrampur Chini, Indiamart, Delta Corp and Godrej Consumer. 

Sector Update 

The Oil & Gas and FMCG sectors were the top gainers today. Stocks like Indraprastha Gas Limited, Oil and Natural Gas Corporation, Mahanagar Gas, ITC and Hindustan Unilever closed in green.

The Financial Services and Auto sectors were the top losers today. Stocks like HDFC, Bajaj Finserv, Maruti Suzuki, Tata Motors and Ashok Leyland closed in the red. 

Major News 

As per the data released by the Government, India’s merchandise trade deficit touched $18.51 billion in March. India’s merchandise exports jumped almost 20% to $42 billion, while imports spiked 24% to $60.7 billion.