F&O Market Recap for 23 February 2022

Index Action 

Nifty50

The sell-off towards the fag-end dragged the Nifty50 lower for the sixth consecutive day. Gains in Banking and FMCG stocks pushed the index higher, while Auto and Infrastructure stocks pulled it lower. The Nifty50 slipped 28 points to close at 17,063.

The Nifty50’s monthly options expiring on February 24 have sizable positions at 17,500 and 17,200 call options and 17,000 and 17,100 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 too gave up its early gains in the last hour of the session and dipped below the 37,400 mark. With PSU banks overpowering the private banks, the Bank Nifty ended the day flat with a positive bias at 37,392, up by 20 points.

The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 38,000 and 37,500 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 CG Consumer, DLF, FSL, GSPL and Oberoi Realty. 

Today's top losers were Gujarat Gas, Indiabulls Housing Finance, ONGC, Vodafone Idea and Ramco Cements. 

Sector Update 

Among the Nifty sectoral indices, Realty and PSU Bank were the top gainers. Stocks like DLF, Oberoi Realty, Bank of Baroda, PNB and SBI closed in the green.

The Infrastructure and Auto sectors came under selling pressure. Stocks like Larsen & Toubro, ONGC, Hero MotoCorp, TVS Motor and Eicher Motors closed in the red.

Coming soon: Options strategy builder

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