F&O Market Recap for 5 January 2022

Index Action 

Nifty50

Nifty50 started on a flat note and picked up pace in the second half. It was up for the fourth consecutive session and zoomed past 17900. Financial and metal stocks led the gains. Selling pressure in IT kept the uptick in check. Nifty50 ended the day 120 points higher at 17,925. 

Nifty50’s monthly options expiring on January 27 have sizable positions at 18,000 and 18,500 call options and 17,000 and 17,500 put options. 

Nifty50’s weekly options expiring on January 6 have sizable positions at 18,000 and 18,100 call options and 17,800 and 17,500 put options. 

As per options data, the broad range for Nifty50 is between 16,400 and 18,600 levels. Its immediate support is at 17,400 and resistance is at 18,100 levels.

Bank Nifty

Broad based rally in all 12 stocks of the Bank Nifty pushed the index higher by 2.2%. It ended the day 855 points higher at 37,695. 

Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 38,000 and 37,000 call options and 35,000 and 36,000 put options. 

Bank Nifty50’s weekly options expiring on January 6 have sizable positions at 38,000 and 39,000 call options and 37,000 and 36,000 put options. 

As per the options data, the broad range for Bank Nifty, is between 35,500 and 38,900 levels. Its immediate support is at 36,700 and resistance is at 38,100 levels. 

Stock Action

Today’s top gainers were AU Small Finance Bank, Tata Communications, Chambal Fertilisers, Jindal Steel & Power and Bajaj Finserv. 

Today's top losers were Coforge, Persistent, L&T Infotech. Indigo and Dixon Technologies. 

Sector Update 

Among the Nifty sectoral indices, Banks and Metals have emerged as the leading sectors with buying interest. Stocks like AU Small Finance Bank, Kotak Mahindra Bank, Bandhan Bank, Jindal Steel and Power and JSW Steel closed in the green.

The IT and Media sectors came under selling pressure. Stocks like L&T Infotech, Tech Mahindra, Infosys and Zee Entertainment closed in the red. 

Major News

Adani Enterprises has won a contract to supply overseas coal to NTPC. As per reports, Adani Enterprises, India’s largest trader of imported thermal coal, will deliver 1 million tons to NTPC with the aim to avoid a repeat of last year’s energy crisis.