F&O Market Recap for 13 December 2021

Index Action 

Nifty50

After a strong opening and hitting a high of 17,639, Nifty50 saw intensified selling pressure due to rising uncertainty of the Omicron variant and inflation worries. Nifty50 closed deep in the red near the day’s low. It closed 143 points lower at 17,368.

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 17,600 and 17,500 call options and 17,000 and 17,400 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 17,700 levels.

Bank Nifty

Bank Nifty traded around 37,500 in the first half but sharp sell-off dragged it below 37,000. It closed 180 points lower at 36,925.

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

As per the options data, the broad range for Bank Nifty is between 35,400 and 38,200 levels. Its immediate support is at 36,000 and resistance is at 37,600 levels. 

Stock Action

Today’s top gainers were Strides Pharma, Birlasoft, Delta Corp, Syngene International and Piramal Enterprises.

Today's top losers were Vodafone Idea, Zee Entertainment, IEX, Bajaj Finance and Info Edge. 

Sector Update 

Amongst the sectoral indices, Nifty IT emerged as the leading sector today with buying interest. Stocks like Coforge, Mphasis, L&T Infotech and Tech Mahindra closed in the green. 

The Media and Realty sectors, followed by PSU Banks, saw selling pressure today. Stocks like Zee Entertainment, Sun TV, Oberoi Realty, DLF and Canara Bank closed in the red.

Major News

India’s economic activity appears to be chugging along towards normalisation despite the threats posed by Omicron strain, said the foreign firm Nomura. Its India Business Resumption Index climbed to a record-high level as neither policy restrictions nor public fear appear to have had any impact on the mobility which is supporting further normalisation in servicess.