F&O Market Recap for 14 January 2022

Index Action 

Nifty50

Nifty50 started lower but rose steadily in the second half and even broke into the positive zone for a brief while. Cheered by lower inflation data and led by IT and Oil & Gas stocks ended the day flat, 2 points lower at 18,255.

Nifty50’s monthly options expiring on January 27 have sizable positions at 18,500 and 19,000 call options and 17,500 and 18,000 put options. 

Nifty50’s weekly options expiring on January 20 have sizable positions at 18,200 and 18,300 call options and 18,200 and 18,000 put options. 

As per options data, the broad range for Nifty50 is between 17,200 and 18,900 levels. Its immediate support is at 17,700 and resistance is at 18,500 levels.

Bank Nifty

Bank Nifty slid to 38,000 levels and rebounded nearly 400 points but failed to break into the positive territory. It slipped 99 points to close at 38,370. 

Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 39,000 and 38,500 call options and 38,000 and 37,000 put options. 

Bank Nifty50’s weekly options expiring on January 20 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 Bank Nifty, is between 36,800 and 39,600 levels. Its immediate support is at 38,000 and resistance is at 39,200 levels. 

Stock Action

Today’s top gainers were RBL Bank, BEL, IRCTC, Granules and Tata Consumer. 

Today's top losers were Asian Paints, Mindtree, Biocon, Au Small Finance Bank and Aurobindo Pharma. 

Sector Update 

Among the Nifty sectoral indices, Realty and IT have emerged as the leading sectors with buying interest today. Stocks like Oberoi Realty, Godrej Properties, DLF, TCS and Infosys closed in the green.

The FMCG and Pharma sectors came under selling pressure today. Stocks like HUL, Nestle, Britannia, Biocon and Aurobindo Pharma closed in the red. 

Major News 

India’s Wholesale Price Index (WPI) inflation moderated to 13.56% in December 2021 vs 14.23% in November 2021. The decline was driven by fall in fuel items and aided by drop in food and commodity prices.