F&O Market Recap for 10 December 2021

Index Action 

Nifty50

Nifty50 was range-bound and traded lower for the most part of the day. Buying towards the last hour saw it close flat with a negative bias. Nifty50 closed 5 points lower at 17,511.

Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,000 put options. 

Nifty50’s weekly options expiring on December 16 have sizable positions at 18,000 and 17,500 call options and 17,400 and 17,500 put options. 

As per options data, the broad range for Nifty50 is between 16,300 and 18,300 levels. Its immediate support is at 17,000 and resistance is at 17,900 levels.

Bank Nifty

Bank Nifty had a mildly volatile day. It recovered after the opening sell-off only to retest the lows of the day. With buying towards the last hour, Bank Nifty managed to close 23 points higher at 37,105.

Bank Nifty’s monthly options expiring on December 30 have sizable positions at 38,000 and 38,500 call options and 37,000 and 36,000 put options. 

Bank Nifty’s weekly options expiring on December 16 have sizable positions at 38,000 and 37,000 call options and 37,000 and 36,000 put options. 

As per the options data, the broad range for Bank Nifty is between 35,500 and 38,400 levels. Its immediate support is at 36,100 and resistance is at 37,800 levels. 

Stock Action

Today’s top gainers were IEX, Siemens, Polycab, IDFC First Bank and DLF.

Today's top losers were SBI Cards, Atul Industries, FSL, PVR and Divis Labs. 

Sector Update 

Nifty PSU Banks and Realty with buying interest emerged as the leading sectors today. Stocks like Canara Bank, PNB, Bank of Baroda, DLF and Oberoi Realty closed in the green. 

The IT and Financial Services sectors saw selling pressure today. Stocks like Mindtree, Wipro, HCL Technologies, HDFC and Muthoot Finance closed in the red.

Major News

Auto industry body SIAM said that passenger vehicles sales saw a dip of 19% in November compared to the same month last year due to ongoing semiconductor shortage. The two-wheelers saw a sharp decline of 34% year-on-year while three-wheeler sales were down 7%.