F&O Market Recap for 19 April 2022

Index Action 

Nifty50

In a choppy session, the Nifty50 extended its losing streak for the fifth straight day. The sharp sell-off of nearly 400 points towards the end dragged the index lower, and it took support near 16,800 levels. With 43 out of the 50 stocks closing in red, the Nifty50 closed 215 points lower at 16,958.

The Nifty50’s monthly options expiring on April 28 have sizable positions at 17,500 and 18,000 call options and 17,000 and 16,500 put options. 

The Nifty50’s weekly options expiring on April 21 have sizable positions at 17,400 and 17,300 call options and 16,700 and 16,800 put options. 

As per options data, the broad range for the Nifty50 is between 16,300 and 18,000 levels. Its immediate support is at 16,700 and resistance is at 17,400 levels.

Bank Nifty

The Bank Nifty also came under selling pressure and dipped below 36,000 mark. However, with fag-end recovery of more than 140 points, the index managed to close above the 36,000 mark and ended the day 1% lower at 36,341. Among the heavyweights, HDFC Bank and Kotak Mahindra Bank came under selling pressure, while SBI and ICICI Bank cushioned the fall.

The Bank Nifty’s monthly options expiring on April 28 have sizable positions at 37,000 and 38,000 call options and 36,000 and 35,000 put options. 

The Bank Nifty’s weekly options expiring on April 21 have sizable positions at 37,000 and 37,500 call options and 36,000 and 36,500 put options. 

As per the options data, the broad range for the Bank Nifty is between 35,200 and 38,000 levels. Its immediate support is at 35,900 and resistance is at 37,100 levels. 

Stock Action

Today’s top gainers were Apollo Hospitals, Coal India, Reliance Industries, HPCL and AU Small Finance Bank. 

Today's top losers were Jubilant FoodWorks, Chambal Fertilisers, Mindtree, LTI and Strides Pharma.

Sector Update 

Barring Oil & Gas, all the other sectoral indices closed in red. Stocks like Reliance Industries, HPCL and Oil India closed in the green.

The FMCG and IT sectors came under selling pressure. Stocks like Tata Consumer, Nestle, ITC, Mindtree and LTI closed in the red.