January 7, 2022

F&O Market Recap for 7 January 2022

Blog | F&O

Index Action

Nifty50

After a strong start, Nifty50 switched between gains and losses in a volatile session. However, it bounced from lower levels and closed 66 points higher at 17,812.

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 13 have sizable positions at 18,000 and 17,900 call options and 17,500 and 17,600 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

Bank Nifty followed a similar trajectory as Nifty50 but fared better in terms of higher gains and better breadth. It rose 249 points to close at 37,739.

Bank Nifty50’s monthly options expiring on January 27 have sizable positions at 38,000 and 37,500 call options and 36,000 and 37,000 put options.

Bank Nifty50’s weekly options expiring on January 13 have sizable positions at 38,000 and 38,500 call options and 37,000 and 37,500 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 India Cements, NALCO, Jubilant Foodworks, Grasim and Page Industries.

Today's top losers were GMR Infra, Piramal Enterprises, Abbott India, Metropolis and GNFC.

Sector Update

Among the Nifty sectoral indices, Energy and Banking emerged as the leading sectors with buying interest. Stocks like ONGC, Reliance Industries, Tata Power, AU Small Finance Bank and Bandhan Bank closed in the green.

The Media and Pharma sectors came under selling pressure. Stocks like PVR, Zee Entertainment, Sun TV, Abbott India and Granules closed in the red.

Major News

Oil has seen a sharp spike in prices over the last few days due to the supply disruptions in Russia and Libya. Over the past 7 days, Brent oil prices jumped nearly 7% and are currently trading at $82.75 per barrel.