F&O Mid-Market Update for 10 June 2022

Index Action at 12 pm

Nifty50

Amid weak global cues, the Nifty50 opened lower and slipped further in trade to the 16,200-mark. All the major sectoral indices came under selling pressure, with Metal and IT being the biggest losers. With 42 out of the 50 companies trading lower, the Nifty50 was trading 234 points lower at 16,244.

For June 16 options contracts, the Nifty50 has sizable positions at 16,500 and 16,300 call options and 16,200 and 16,300 put options. Further, additions were seen in 16,300 call options and 16,200 put options. 

The Nifty50’s immediate support is at 16,100 and resistance is at 16,500 levels. 

Bank Nifty

Amid overall market weakness, the Bank Nifty was also off to a negative start. It opened nearly 400 points lower, and further slipped towards the psychological mark of 34,500. With all 12 bank stocks trading in the red, the Bank Nifty was trading 496 points lower at 34,588.

For June 16 options contracts, the Bank Nifty has sizable positions at 36,000 and 35,000 call options and 34,500 and 34,000 put options. Further additions were seen in 34,500 call options and 34,000 put options.

The Bank Nifty’s immediate support is at 34,100 and resistance is at 35,000 levels. 

Stock Action 

Today’s top gainers are Deepak Nitrite, Trent, Tata Communications, GMR Infra and Torrent Power. 

Today’s top losers are Indiabulls Housing Finance, Gujarat Gas, Chola Investments, IDFC and Bajaj Finance. 

Sector Update

All the major sectoral indices are trading in the red , with Metal and IT sectors being the top losers. Stocks like Hindalco, Tata Steel, SAIL, Wipro and Mphasis are trading in the red. 

Global Markets Update

Major European markets are likely to open lower as their futures are trading in the range of -0.5% to -0.6%. The US futures are trading higher, up by 0.2%.