F&O Market Recap for 9 February 2022

Index Action 

Nifty50

The Nifty50 broke out of its first sessions trading range and closed near day’s high. The Nifty50 jumped 197 points higher and closed at 17,463. Barring PSU Bank and Oil and Gas, all sectoral indices closed in green, with Auto and Metal topping the list.  

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 tomorrow have sizable positions at 17,800 and 17,600 call options and 17,400 and 17,300 put options. 

As per options data, the broad range for the Nifty50 is between 16,400 and 18,400 levels. Its immediate support is at 16,900 and resistance is at 17,800 levels.

Bank Nifty

The Bank Nifty comfortably scaled the 38,500 mark and closed above it. It rose 581 points higher and closed at 38,610. The overall breadth of the banking index remained strong, and only 1 stock out of the 12 closed in red.

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 tomorrow have sizable positions at 39,000 and 39,500 call options and 38,000 and 38,500 put options. 

As per options data, the broad range for the Bank Nifty, is between 36,800 and 39,900 levels. Its immediate support is at 37,500 and resistance is at 39,300 levels. 

Stock Action

Today’s top gainers were Abbott India, Indiamart, Persistent, Rain Industries and SBI Card. 

Today's top losers were Mahanagar Gas Ltd, Bank of Baroda, Godrej Consumer, ONGC and Jindal Steel and Power. 

Sector Update 

Auto and Metal sectors were the biggest movers. Stocks like Maruti Suzuki, Bharat Forge, Bajaj Auto, JSW Steel and Tata Steel closed in the green.

PSU Banks and Energy sectors came under selling pressure. Stocks like Bank of Baroda, PNB, Canara Bank, ONGC and GAIL closed in the red.

Major News 

As per the data released by the Association of Mutual Funds in India (AMFI), the mutual funds added 26 lakh new SIP accounts during January 2022. With this addition, the number of SIP accounts crossed  5 crore for the first time in history.