F&O Market Recap for 11 January 2022

Index Action 

Nifty50

Amidst a choppy session, the Nifty50 extended gains to a third straight day and ended comfortably in the green. Led by the energy and IT stocks, the Nifty50 ended 52 points higher at 18,055. 

The Nifty50’s monthly options expiring on January 27 have sizable positions at 18,000 and 18,500 call options and 17,000 and 17,500 put options. 

The Nifty50’s weekly options expiring on January 13 have sizable positions at 18,000 and 18,500 call options and 18,000 and 17,800 put options. 

As per options data, the broad range for the Nifty50 is between 16,800 and 18,800 levels. Its immediate support is at 17,500 and resistance is at 18,300 levels.

Bank Nifty

The Bank Nifty had a volatile session and posted a steady recovery in the second half. Private banks fared better than the PSU banks, and the Bank Nifty closed 94 points higher at 38,442. 

The Bank Nifty’s monthly options expiring on January 27 have sizable positions at 38,000 and 39,000 call options and 37,000 and 38,000 put options. 

The Bank Nifty’s weekly options expiring on January 13 have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options. 

As per the options data, the broad range for the Bank Nifty, is between 36,800 and 39,600 levels. Its immediate support is at 37,400 and resistance is at 38,900 levels. 

Stock Action

Today’s top gainers were Adani Enterprises, Coforge, Au Small Finance Bank, Motherson Sumi and Trent. 

Today's top losers were Vodafone Idea, GMR Infra, SAIL, JSPL and JSW Steel. 

Sector Update 

Among the Nifty sectoral indices, Energy and IT have emerged as the leading sectors with buying interest today. Stocks like ONGC, Reliance Industries, Tata Power, HCL Tech and Coforge closed in the green.

Metal and FMCG sectors came under selling pressure today. Stocks like Jindal Steel and Power, SAIL, NALCO, United Spirits and Godrej Consumer closed in the red. 

Major News 

National Stock Exchange (NSE) gets a nod from SEBI to launch derivatives on Nifty Midcap Select Index and will be available for trading from 24 January. It will be available on weekly and monthly contracts with a lot of 75 shares and expiry will be on Tuesday.