Index Action
Nifty50
The Nifty50 witnessed a sharp sell-off as the spike in the US bond yields spooked the investors. With support from PSU banks and Energy stocks, the index took support near 17,100 but ended the day deep in the red. It plunged 302 points to 17,213.
The Nifty50’s monthly options expiring on February 24 have sizable positions at 18,000 and 17,500 call options and 16,500 and 17,000 put options.
The Nifty50’s weekly options expiring on February 10 have sizable positions at 17,500 and 17,600 call options and 17,000 and 16,800 put options.
As per the options data, the broad range for the Nifty50 is between 16,400 and 17,900 levels. Its immediate support is at 16,800 and resistance is at 17,700 levels.
Bank Nifty
The Bank Nifty nosedived after a weak opening, but a mild recovery towards the close helped it end closer to the 38,000 mark. PSU Banks provided a cushion as the Bank Nifty declined 793 points to 37,995.
The Bank Nifty’s monthly options expiring on February 24 have sizable positions at 39,000 and 39,500 call options and 37,000 and 37,500 put options.
The Bank Nifty’s weekly options expiring on February 10 have sizable positions at 39,000 and 39,500 call options and 38,000 and 37,000 put options.
As per the options data, the broad range for the Bank Nifty, is between 36,500 and 39,300 levels. Its immediate support is at 37,500 and resistance is at 38,900 levels.
Stock Action
Today’s top gainers were GNFC, Indigo, Bank of Baroda, Godrej Properties and Vedanta.
Today's top losers were Torrent Power, Lupin, FSL, Apollo Hospitals and Polycab.
Sector Update
Among the Nifty sectoral indices, the PSU Bank and Energy emerged as the top gainers. Stocks like Bank of Baroda, SBI, PNB, ONGC and GAIL closed in the green.
The Financial Services and FMCG sectors came under selling pressure. Stocks like HDFC Bank, HDFC Life, Bajaj Finance, Godrej Properties, DLF, Tata Consumer and United Spirits closed in the red.
Major News
Passenger vehicle retail sales dropped 10% year-on-year in January 2022, as the companies continued to suffer production losses amid ongoing semiconductor shortage.