F&O Market Recap for 16 May 2022

Index Action 

Nifty50

The Nifty50 broke its six-day losing streak and ended the volatile session in the green. Gains in the Auto and Banking sectors pushed the index higher, while IT and FMCG were the top laggards. The Nifty50 added 60 points and closed the volatile session at 15,842.

The Nifty50’s options contracts expiring on 26 May have sizable positions at 17,000 and 16,000 call options and 16,000 and 15,000 put options. 

The Nifty50’s options contracts expiring on 19 May have sizable positions at 16,200 and 16,500 call options and 15,800 and 15,500 put options. 

As per options data, the broad range for Nifty50 is between 15,100 and 16,800 levels. Its immediate support is at 15,600 and resistance is at 16,100 levels.

Bank Nifty

The Bank Nifty ended the session 1.4% higher and was one of the top-performing sectors of the day. With all the 12 bank stocks closing in the green, the breadth was in favour of bulls. The Bank Nifty ended the day at 33,597, up 1.4%.

The Bank Nifty’s options contracts expiring on 26 May have sizable positions at 36,000 and 35,000 call options and 33,000 and 32,000 put options. 

The Bank Nifty’s options contracts expiring on 19 May have sizable positions at 34,000 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 34,400 levels. Its immediate support is at 32,800 and resistance is at 34,000 levels. 

Stock Action

Today’s top gainers were Vodafone-Idea, Balkrishna Industries, Eicher Motors, Bandhan Bank and HAL. 

Today's top losers were Honeywell Automation, Metropolis, AB Capital, Dr. Lal Pathlabs and Nippon Life. 

Sector Update 

Among sectors, the Auto and Banking were the top gainers today. Stocks like Eicher Motors, Escorts, TVS Motors, Bandhan Bank and Bank of Baroda ended in the green.

The IT and FMCG sectors were the top losers today. Stocks like L & T Technology Services, Tech Mahindra, TCS, ITC and United Spirits ended in the red.

Major News 

High-end cars priced over ₹10 lakh registered a 38% year-on-year growth compared to lower-priced cars, as per a Crisil report. Despite supply-chain issues, the market share of premium cars in the last fiscal increased by 30%, said the Crisil report.