F&O Market Recap for 24 February 2022

Index Action 

Nifty50

The Nifty50 tanked to its lowest level since December 2021 after Russia announced a military operation in Ukraine. Amid a broad-based sell-off, the headline index closed lower for the seventh straight session. It plunged 815 points to 16,247.

The Nifty50's monthly options expiring on March 31 are scattered and have sizable positions at 17,000 and 18,000 call options and 16,000 and 15,500 put options.

The Nifty50's weekly options expiring on March 3 have sizable positions at 17,000 and 16,500 call options and 16,000 and 15,500 put options.

As per options data, the broad range for the Nifty50 is between 15,100 and 17,300 levels. Its immediate support is at 15,700 and resistance is at 16,800 levels.

Bank Nifty

The Bank Nifty tanked more than 2,000 points and breached the 35,000 mark. The PSU Bank index tumbled more than 8%, and the private bank index plunged 6%. The Bank Nifty plummeted 2,163 points to close at 35,228.

The Bank Nifty’s monthly options expiring on March 31 are scattered and have sizable positions at 38,000 and 37,000 call options and 34,000 and 33,000 put options. 

The Bank Nifty50’s weekly options expiring on March 3 have sizable positions at 36,000 and 37,000 call options and 35,000 and 33,000 put options. 

As per options data, the broad range for the Bank Nifty, is between 33,400 and 37,300 levels. Its immediate support is at 34,300 and resistance is at 36,400 levels. 

Stock Action

Today’s top gainers were Indiamart and Nippon. 

Today's top losers were Indus Towers, PNB, Rain Industries, L&T Finance and Amara raja Batteries. 

Sector Update 

All major sectoral indices closed in the red.

The PSU Bank, Realty and Auto sectors came under selling pressure. Stocks like PNB, Canara Bank, Godrej Properties, DLF and Amara Raja Batteries closed in the red.

Coming soon: Options strategy builder

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