F&O Market Recap for 14 December 2021

Index Action 

Nifty50

Nifty50 recovered well from the day’s low of 17,225 and traded in the green for a short while. Selling pressure dragged the index back into the red but it managed to close above 17,300. Nifty50 closed 43 points lower at 17,324.

Nifty50’s monthly options expiring on December 30 have sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 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 17,300 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

After a weak opening, Bank Nifty recovered nearly 500 points from the day’s low and ended the day on a flat note. It closed 31 points lower at 36,893. 

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

Bank Nifty’s weekly options expiring on December 16 have sizable positions at 37,500 and 37,000 call options and 36,500 and 37,000 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 ABFRL, Lupin, Pfizer, MCX India and Zee Entertainment. 

Today's top losers were Shriram Transport Finance, NMDC, Piramal Enterprises, Chola Investments and ITC. 

Sector Update 

Media and Pharma emerged as the leading sectors today with buying interest. Stocks like Zee Entertainment, Sun TV, Lupin, Pfizer and Divis Laboratories closed in the green. 

PSU Banks and Realty sector saw selling pressure today. Stocks like Canara Bank, Bank of Baroda, PNB and Oberoi Realty closed in the red.

Major News

India’s Wholesale Price Index (WPI) spiked to 12 year high at 14.23% in the month of November. This rise can be largely attributed to increase in manufacturing and food prices along with a jump in prices of metals and crude oil. Rising inflation remains a matter of concern for India and other economies across the globe.