F&O Market Recap for 3 February 2022

Index Action 

Nifty50

The Nifty50 halted its three-day winning streak and witnessed profit-booking amidst weak global cues. Losses in IT and financials pulled the index lower, and it declined 1.2% to close at 17,560.  

The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 18,500 call options and 16,500 and 17,000 put options. 

The Nifty50’s weekly options expiring on February 10 have sizable positions at 18,000 and 17,900 call options and 17,000 and 17,500 put options. 

As per the options data, the broad range for the Nifty50 is between 16,600 and 18,600 levels. Its immediate support is at 17,200 and resistance is at 18,000 levels.

Bank Nifty

The Bank Nifty inched higher during the day but gave in to the selling pressure. As the overall breadth turned negative, only 2 out of 12 stocks of the Bank Nifty closed in green. It fell 320 points to 39,010.

The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 40,000 call options and 37,000 and 38,000 put options. 

The Bank Nifty’s weekly options expiring on February 10 have sizable positions at 40,000 and 39,500 call options and 38,000 and 39,000 put options. 

As per the options data, the broad range for the Bank Nifty, is between 37,400 and 40,500 levels. Its immediate support is at 38,200 and resistance is at 39,900 levels. 

Stock Action

Today’s top gainers were Balrampur Chini, Coromandel, TVS Motor, Hero Motocorp and Bajaj Auto. 

Today's top losers were Godrej Properties, M&M Financial, MCX India, L&T Technology and Mphasis. 

Sector Update 

Among the Nifty sectoral indices, Auto emerged as the leading sector with buying interest today. Stocks like TVS Motor, Hero Motocorp and Bajaj Auto closed in the green.

The IT and Realty sectors came under selling pressure. Stocks like L&T Technology, Mindtree, Mphasis and Godrej Properties closed in the red.

Major News 

As per reports, the lenders to India's Future Retail Group have started classifying the retailer as a "non-performing-asset" after the company missed payments due to the banks.