F&O Mid-Market Update for 13 June 2022

Index Action

Nifty50

Amid rising inflation concerns and a sell-off across global markets, the Nifty50 started the week on a negative note and slipped to 15,750 levels. All the major sectors succumbed to the selling pressure, with Financial Service, Banking and IT falling more than 3% each. At 12 pm, the Nifty50 was trading 413 points lower at 15,788.

For June 16 options contracts, the Nifty50 has sizable positions at 16,000 and 16,300 call options and 15,800 and 15,500 put options. Further, additions were seen in both 15,800 call options and put options. 

The Nifty50’s immediate support is at 15,700 and resistance is at 16,100 levels. 

Bank Nifty

After a gap-down start, the Bank Nifty tumbled 1,000 points and took support around 33,200-mark. All the twelve stocks of the index came under selling pressure, with IndusInd Bank and ICICI Bank cracking more than 4% each. At 12 pm, the Bank Nifty was trading 1,156 points lower at 33,327.

For June 16 options contracts, the Bank Nifty has sizable positions at 34,500 and 33,500 call options and 33,000 and 33,500 put options. Further additions were seen in both 33,500 call options and put options.

The Bank Nifty’s immediate support is at 33,000 and resistance is at 34,200 levels. 

Stock Action 

Today’s top gainers are Marico, Siemens, Pidilite, HUL and Nestle. 

Today’s top losers are RBL Bank, M&M Financial, Bajaj Finserv, L&T Finance and Bajaj Finance. 

Sector Update

All major sectoral indices are trading in the red with Financial Service and Banking being the top losers. Stocks like Bajaj Finserv, Bajaj Finance, RBL Bank, IndusInd Bank and ICICI Bank 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 -1.0% to -2.0%. The US futures are trading lower, down by 1.4%.