F&O Market Recap for 20 April 2022

Index Action 

Nifty50

The Nifty50 snapped its five-day losing streak and closed in green. Among heavyweights, Reliance Industries, HDFC and Infosys pushed the index higher, and it closed at 17,136, up 1%.

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 17,200 and 17,500 call options and 17,000 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 16,800 and resistance is at 17,400 levels.

Bank Nifty

The Bank Nifty jumped between red and green territories throughout the day and ended the volatile session marginally lower. The private bank index closed flat with a positive bias as HDFC Bank ended the session in green after nine days. Against this backdrop, the Bank Nifty dipped 26 points lower at 36,314.

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 36,500 call options and 36,000 and 36,500 put options. 

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

Stock Action

Today’s top gainers were ACC, Ambuja Cements, Biocon, BPCL and Tata Motors. 

Today's top losers were LTI, Persistent, Chola Investment, Bajaj Finance and Hindustan Copper.

 Sector Update 

Among sectors, the Auto and Oil & Gas indices were the top gainers. Stocks like Tata Motors, Eicher Motors, Maruti Suzuki, Reliance Industries and BPCL closed in the green.

The Metal and PSU Bank indices were the top losers. Stocks like Hindustan Copper, SAIL, Vedanta, and SBI closed in the red. 

Major News 

The International Monetary Fund (IMF) has slashed India's economic growth forecast to 8.2% for FY23 from 9% estimated in January 2022. Further, IMF said that the war in Ukraine would contribute to a significant slowdown in global growth in 2022 and add to inflation.