F&O Mid-Market Update for 16 June 2022

Index Action

Nifty50

Tracking strong global cues, the Nifty50 opened above 15,800 but slipped into the red. All the major sectoral indices are trading in red, with Metal, Realty and Pharma being the top losers. At 12 pm, the Nifty50 was trading 96 points lower at 15,595.

For June 16 options contracts, the Nifty50 has sizable positions at 15,800 and 16,000 call options and 15,500 and 15,600 put options. Further, additions were seen in 15,800 call options and 15,500 put options. 

The Nifty50’s immediate support is at 15,500 and resistance is at 15,850 levels. 

Bank Nifty

The Bank Nifty started the day on a positive note and hit a high of 33,756. However, the index succumbed to selling pressure at higher levels and slipped to 33,100 levels. Except for ICICI Bank and Bandhan Bank, all the other ten stocks of the banking index are trading in the red. At 12 pm, the Bank Nifty was trading 207 points lower at 33,131.

For June 16 options contracts, the Bank Nifty has sizable positions at 33,500 and 34,000 call options and 33,000 and 32,500 put options. Further additions were seen in 33,500 call options and 33,000 put options.

The Bank Nifty’s immediate support is at 32,900 and resistance is at 33,800 levels. 

Stock Action 

Today’s top gainers are CG Consumer, Coforge, Sun TV, Mphasis and Motherson Sumi. 

Today’s top losers are Ramco Cements, Indigo, Gujarat Gas, Granules and Hindalco. 

Sector Update

All the major sectoral indices are trading in the red, with Metal and Realty being the top losers. Stocks like Jindal Steel and Power, Hindalco, Tata Steel, DLF and Godrej Properties are trading in the red.

Global Markets Update

Major European markets are likely to open mixed as their futures are trading in the range of -1% to +0.2%. The US futures are trading lower, down by -0.4%.