F&O Market Recap for 24 January 2022

Blog | F&O

Index Action 

Nifty50

The Nifty50 opened on a negative note and witnessed a sharp selling for the fifth consecutive session. The market breadth remained negative with only 2 out the 50 stocks closing in green. It plunged 468 points to close at 17,149.  

The Nifty50’s monthly options expiring on January 27 have sizable positions at 17,500 and 17,600 call options and 17,000 and 16,500 put options. 

As per options data, the broad range for the Nifty50 is between 16,400 and 17,900 levels. Its immediate support is at 16,900 and resistance is at 17,500 levels.

Bank Nifty

The Bank Nifty had a highly volatile session. It traded positive at opening but slipped more than 1,300 points from the day’s high and dived below 36,500. It plummeted 626 points to settle at 36,947. 

The Bank Nifty’s monthly options expiring on January 27 have sizable positions at 38,000 and 37,500 call options and 36,000 and 37,000 put options. 

As per the options data, the broad range for the Bank Nifty, is between 35,500 and 38,400 levels. Its immediate support is at 36,200 and resistance is at 37,600 levels. 

Stock Action

Today’s top gainers were Bandhan Bank , Cipla, Lupin, ONGC and Muthoot Finance. 

Today's top losers were Astral, Hindustan Copper, Vodafone Idea, Godrej Properties and Zee Entertainment.  

Sector Update 

No major sectoral index closed in the green today. 

Realty and Metal sectors, followed by Media, came under selling pressure. Stocks like Godrej Properties, DLF, Hindustan Copper, JSPL and Zee Entertainment closed in the red. 

Major News 

As per reports, Air India will be handed over to the Tata Group on 27 January. Tata Group had won a bid to buy 100% stake in Air India and Air India Express. The group already has a joint venture with Singapore Airlines where it owns 51% stake in the airline Vistara. 

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