F&O Market Recap for 15 March 2022

Index Action 

Nifty50

Tracking negative cues from the European markets and U.S. Futures, the Nifty50 fell sharply in the second half to 16,500 levels. Metal and IT stocks ended with deep cuts, while gains in Auto and FMCG stocks cushioned the fall. The Nifty50 dropped 208 points to close at 16,663.

The Nifty50’s monthly options expiring on March 31 have sizable positions at 18,000 and 17,000 call options and 16,000 and 16,500 put options. 

The Nifty50’s weekly options expiring on March 17 have sizable positions at 17,000 and 16,900 call options and 16,500 and 16,600 put options. 

As per options data, the broad range for the Nifty50 is between 15,900 and 17,800 levels. Its immediate support is at 16,400 and resistance is at 17,100 levels.

Bank Nifty

The Bank Nifty also faced selling pressure and dipped to 34,700 levels. However, it marginally recovered and managed to close above the 35,000-mark towards the end of the session. With eight out of 12 stocks closing in the red, the Bank Nifty closed 289 points lower today.

The Bank Nifty’s monthly options expiring on March 31 have sizable positions at 36,000 and 37,000 call options and 34,000 and 35,000 put options. 

The Bank Nifty’s weekly options expiring on March 17 have sizable positions at 36,000 and 36,500 call options and 34,000 and 35,000 put options. 

As per the options data, the broad range for the Bank Nifty, is between 33,300 and 36,800 levels. Its immediate support is at 34,200 and resistance is at 35,900 levels. 

Stock Action

Today’s top gainers were Bandhan Bank, AU Small Finance Bank, Tata Consumer, Motherson Sumi and Dabur. 

Today's top losers were Balrampur Chini, Mindtree, Coforge, Hindustan Copper and NMDC. 

Sector Update 

The Auto and FMCG indices emerged as the leading sectors with buying interest today. Stocks like Ashok Leyland, M&M, Maruti Suzuki, Tata Consumer and Dabur closed in the green. 

The Metal and IT sectors came under selling pressure. Stocks like NMDC, Hindalco, JSPL, Mindtree and Coforge closed in the red.

Major News 

Brent crude slipped to $100 per barrel amid a resurgence of virus cases in China and progress in ceasefire talks between Russia and Ukraine.