F&O Market Recap Update for 11 October 2021

Index Action

Nifty50

Nifty50 hit new highs of 18,041 before profit-booking set in. It closed 50 points higher at 17,945.

Monthly options for the October series saw further additions to their significant positions at 18,500 and 18,000 call options and 17,800 and 17,500 put options. Further additions were also seen at 18,200 call options and 17,800 put options. 

Weekly options expiring on October 14 continue to add to their significant positions at 18,000 and 18,300 call options and 17,800 and 17,600 put options. Further additions were also seen at 18,300 call and 17,800 put options.  

The broad range for Nifty50, as per options data, is 17,500 and 18,500 levels and its immediate support and resistance levels are 17,800 and 18,300 respectively.

Bank Nifty

Bank Nifty also touched a new high of 38,495 today. It closed 518 points higher at 38,293. 

Monthly options for October series have sizable positions at 38,500 and 39,000 call options and 38,000 and 37,500 put options. 

Weekly options expiring on October 14 have sizable positions at 38,500 call options and 38,000 put options.  Further additions were seen at 38,400 call options and 38,200 put options. 

The broad range for Bank Nifty, as per the options data, is 37,500 and 39,000. Its immediate support and resistance levels are 38,000 and 38,500.

 Global Markets Update 

European markets are subdued on account of rising inflation worries and talks by the Bank of England to hike rates sooner than expected. Major European indices are trading mixed in the range of -0.2% to + 0.3%. Dow Jones Futures have slipped further and are trading almost 70 points down. 

Stock Action

Today’s’ Top Gainers were IEX, Tata Motors, Tata Power, GMR Infra and Torrent Power. 

Today's Top Losers were TCS, Idea, Bandhan Bank, Coforge and Mphasis. 

Major News 

Sensex and Nifty50 hit record highs of 60,476 and 18,041 levels respectively. Today’s move was largely driven by the Auto and Power sectors even as IT stocks saw selling pressure. 

Revival in economic activity and restrained supply from major producers led to the rising demand for Brent Crude and pushed it beyond $84 per barrel.