F&O Market Recap for 22 February 2022

Index Action 

Nifty50

The Nifty50 partly pared its losses in the last hour of trade and reclaimed the 17,000 mark. With this, the Nifty closed lower for the fifth consecutive day as tensions between Russia and Ukraine remained volatile. Losses in Metal and IT stocks dragged the index lower, while gains in Auto and select Financials stocks provided support. The Nifty50 ended the day 114 points lower at 17,092. 

The Nifty50’s monthly options expiring on February 24 have sizable positions at 17,500 and 17,400 call options and 17,000 and 16,800 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 16,700 and resistance is at 17,500 levels.

Bank Nifty

The Bank Nifty recovered its opening losses and crossed the 37,500 mark, but selling during the last hour of the session dragged it lower. With 10 out of the 12 stocks closing in red, the Bank Nifty ended the day 313 points lower to 37,371.

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 36,500 put options. 

As per options data, the broad range for the Bank Nifty is between 36,300 and 39,600 levels. Its immediate support is at 36,800 and resistance is at 38,300 levels. 

Stock Action

Today’s top gainers were Nippon, Metropolis, Apollo Hospitals, NALCO and Persistent.

Today's top losers were DLF, Rain Industries, Zee Entertainment, MCX India and Tata Steel. 

Sector Update 

All the sectors closed in red, with Media, Realty and PSU Bank being the worst drags. Stocks like Zee Entertainment, Sun TV, DLF, Godrej Properties and SBI closed in the red.

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