F&O Market Recap for 24 November 2021

Index Action: 

Nifty50: Nifty50 gave up all of the morning gains as it slipped in the second half and closed in the red. It closed 88 points lower at 17,415. 

Nifty50 options expiring on November 25 have sizable positions at 17,800 and 17,600 call options and 17,000 and 17,300 put options. Further additions were seen at 17,500 call options and at 17,200 put options.

The broad range for Nifty50, as per options data, is 17,000 and 18,700 levels and its immediate support is at 17,200 and resistance is at 17,900 levels.

Bank Nifty: Bank Nifty managed to close in the green even as the broader markets slipped into the red. Bank Nifty closed 169 points higher at 37,441. 

Bank Nifty options expiring on November 25 have sizable positions at 38,000 and 38,500 call options and 37,000 and 36,500 put options. Further additions were seen at 37,800 call options and at 37,000 put options.

The broad range for Bank Nifty, as per the options data, is between 36,000 and 38,800. Immediate support is at 36,900 and resistance is at 38,100 levels. 

Stock Action:

Today’s top gainers were Zee Entertainment, Adani Ports, ONGC, Chambal Fertilisers and Laurus Labs.  

Today's top losers were L&T Technology services, Mindtree, Pidilite, IRCTC and Birlasoft. 

Sector Update: 

Metal and Banking sectors emerged as the leading sectors today with buying interest. Stocks like Zee Entertainment, RBL Bank, Kotak Mahindra Bank and ICICI Bank closed in the green. 

The IT and Auto sectors saw selling pressure today. Stocks like Mindtree, L&T Infotech, Infosys, Eicher Motors and Maruti Suzuki  closed in the red.

Major News: International flights could resume full operations soon, as early as the end of the year, the Aviation Ministry Secretary was quoted as saying. Restrictions on international flights were eased as the number of cases dropped and vaccination coverage increased under the “air bubble” deals with 25 countries. The complete opening up of international flights will be a huge positive for the aviation and tourism sectors in the country.