F&O Market Recap for 19 October 2021

Index Action 

Nifty50

Nifty50 touched a high of 18,604 but saw aggressive profit-booking in the last hour of trade today. It closed 58 points lower at 18,418. 

The monthly October series have a sizable base at 18,500 and 19,000 call options and 18,000 and 17,500 put options. Additions were seen at 18,600 call options and 18,400 put options. 

Weekly options expiring October 21, further added to their sizable positions at 18,500 and 18,600 call options and 18,400 and 18,300 put options. 

The broad range for Nifty50, as per options data, is 17,500 and 18,800 levels and its immediate support and resistance levels are 18,300 and 18,600 respectively.

Bank Nifty

Bank Nifty too saw profit-booking pressure in the last hour of trade and closed 144 points lower at 39,540.   

Monthly options for the October series have sizable positions at 39,500 and 40,000 call options and 38,000 and 38,500 put options. 

Weekly options expiring on October 21 have sizable positions at 39,800 and 40,000 call options and 39,500 and 39,000 put options. 

The broad range for Bank Nifty, as per the options data, is 38,000 and 40,000. Immediate support and resistance levels for Bank Nifty stand at 39,000 and 40,000 levels. 

Stock Action

Today’s Top Gainers were L&T Infotech, L&T Tech, Mphasis, IEX and Coforge.

Today's Top Losers were IRCTC, Tata Power, NALCO, BHEL and Oberoi Realty.

 Sector Update 

The IT sector was the leading sector today followed by the Financial Services sector. Stocks like L&T Infotech, Mphasis, Tech Mahindra, Shriram Transport Finance and Bajaj Finserv closed in the green.

Profit-booking was seen across various sectors in the second half. Realty and PSU banks saw the highest declines followed by FMCG. Stocks like Oberoi Realty, DLF, Canara Bank, ITC and HUL closed in the red. 

Major News 

The government is setting up a committee to finalise the taxation policy for tobacco. Shares of the ITC dropped over 6% and hit a low of ₹245.05 today. 

China GDP grew at  0.2% quarter-on-quarter, slowest in a year in this third quarter of 2021. Global energy crisis and concerns in the property markets are some of the factors contributing to the faltering revival of the economy.