F&O Market Recap for 21 February 2022

Index Action 

Nifty50

The Nifty50 swung big between the red and green territory as investors closely monitored the geopolitical tensions between Russia and Ukraine. Losses in Metal, Oil & Gas and Pharma stocks dragged the index lower, while Banking and select IT stocks lent support. The Nifty50 ended the day lower by 69 points at 17,206.  

The Nifty50’s monthly options expiring on February 24 have sizable positions at 17,500 and 17,600 call options and 17,000 and 17,200 put options. 

As per options data, the broad range for the Nifty50 is between 16,400 and 18,200 levels. Its immediate support is at 16,800 and resistance is at 17,700 levels.

Bank Nifty

The Bank Nifty climbed higher and crossed the 38,000 mark but failed to sustain due to broader market weakness. With gains in the private bank index, the Bank Nifty jumped 86 points to 37,685.

The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 38,000 and 38,500 call options and 37,000 and 37,500 put options. 

As per options data, the broad range for the Bank Nifty is between 36,300 and 39,900 levels. Its immediate support is at 37,100 and resistance is at 38,700 levels. 

Stock Action

Today’s top gainers were Vodafone Idea, Coforge, Federal Bank, ABB and Mindtree. 

Today's top losers were Indiabulls Housing Finance, BHEL, Hindustan Copper, AB Capital and DLF. 

Sector Update 

The banking sector emerged as the leading sector with buying interest today. Stocks like Federal Bank, ICICI Bank, HDFC Bank and Axis Bank closed in the green.

The Media, Metal and Oil & Gas sectors came under selling pressure. Stocks like Zee Entertainment, Sun TV, Hindustan Copper, Coal India and ONGC closed in the red.

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