F&O Market Recap for 5 May 2022

Index Action 

Nifty50

After a positive start, the Nifty50 rose to the 16,950-mark, but selling pressure at higher levels dragged it into the red. Gains in IT, metal and auto stocks, were offset by losses in pharma and FMCG stocks. At close, the Nifty50 was up 5 points at 16,682.    

The Nifty50’s options contracts expiring on May 26 are scattered and have sizable positions at 17,000 and 17,500 call options and 16,000 and 16,500 put options. 

The Nifty50’s options contracts expiring on May 12 have sizable positions at 17,000 and 17,500 call options and 16,500 and 16,000 put options. 

As per options data, the broad range for Nifty50 is between 16,000 and 17,800 levels. Its immediate support is at 16,400 and resistance is at 16,900 levels.

Bank Nifty

The Bank Nifty ended the volatile session with a cut of 0.1%. With both PSU and private bank indices coming under selling pressure, the Bank Nifty ended the day 31 points lower to 35,232. 

The Bank Nifty’s options contracts expiring on May 26 are scattered and have sizable positions at 39,000 and 36,000 call options and 36,000 and 35,000 put options. 

The Bank Nifty’s options contracts expiring on May 12 have sizable positions at 36,000 and 37,000 call options and 34,000 and 35,000 put options. 

As per the options data, the broad range for the Bank Nifty is between 34,000 and 36,800 levels. Its immediate support is at 34,800 and resistance is at 35,900 levels. 

Stock Action

Today’s top gainers were ABB, Siemens, Hero MotoCorp, Tech Mahindra and Dixon Technologies. 

Today's top losers were Intellect Design, Godrej Properties, Can Fin Homes, Deepak Nitrite and IndusInd Bank. 

Sector Update 

The IT and Metal sectors witnessed buying interest today. Stocks like Tech Mahindra, Infosys, Coforge, Vedanta and Tata Steel ended in green. 

The Realty and Pharma sectors came under selling pressure today. Stocks like Godrej Properties, DLF, Sun Pharma, Biocon and Cipla ended in the red.

Major News 

Centre for Monitoring Indian Economy (CMIE) said that slowly improving consumer sentiments might be impacted by the fear of rising inflation, interest rates and unemployment rates. The index of consumer sentiments (ICS) rose by 3% during April, which is marginally slower than the monthly increases in the recent past.