F&O Market Recap for 14 June 2022

Index Action 

Nifty50

The Nifty50 did not sustain a move in the green territory to 15,850 levels and slipped back in the red.  Losses in Oil & Gas and Auto stocks dragged the index lower while gains in Pharma and IT stocks provided support. The Nifty50 fell 42 points to 15,732.

The Nifty50’s options contracts expiring on 30 June are scattered and have sizable positions at 17,000 and 16,500 call options and 15,500 and 15,000 put options. 

The Nifty50’s options contracts expiring on 16 June have sizable positions at 16,000 and 15,800 call options and 15,500 and 15,700 put options. 

As per options data, the broad range for the Nifty50 is between 15,000 and 16,500 levels. Its immediate support is at 15,6 00 and resistance is at 16,000 levels.

Bank Nifty

The Bank Nifty’s recovery met with resistance at higher levels of 33,600 and it closed lower. Even with a positive breadth of 8 advances to 4 declines, the Bank Nifty slipped in the red zone and closed the day 94 points down at 33,311. 

The Bank Nifty’s options contracts expiring on 30 June are scattered and have sizable positions at 35,000 and 36,000 call options and 33,000 and 32,000 put options. 

The Bank Nifty’s options contracts expiring on 16 June have sizable positions at 35,000 and 34,500 call options and 33,000 and 32,500 put options. 

As per the options data, the broad range for the Bank Nifty is between 32,000 and 34,600 levels. Its immediate support is at 32,800 and resistance is at 34,000 levels. 

Stock Action

Today’s top gainers were Adani Enterprises (+5.6%), Strides Pharma (+5.0%), Torrent Power (+4.8%), Aurobindo Pharma (+4.1%) and Nippon Life (+3.5%). 

Today's top losers were HPCL (-5.5%), Bajaj Auto (-5.4%), Polycab (-3.8%), Metropolis (-3.7%) and Indiabulls Housing Finance (-3.1%). 

Sector Update 

Among major sectoral indices, Realty and Metal were the top gainers. Stocks like Oberoi Realty, DLF, Vedanta and Tata Steel ended in the green. 

Oil & Gas and Auto sectors were the top losers. Stocks like HPCL, IOC, IGL, Bajaj Auto and Hero MotoCorp ended in the red. 

Big Story

India's annual wholesale price-based inflation (WPI) rose to a record 15.88% in May, highest since the current series launched in 2012. WPI was at 15.08% in April 2022. However, retail inflation rate for May 2022 cooled off from the eight-year high in April and came in at 7.04% due to base effect and cheaper food prices.