F&O Mid-Market Update for 19 May 2022

Blog | F&O

Index Action

Nifty50

Tracking weak global cues, the Nifty50 witnessed a negative start and slipped below the 15,900-mark. All the major sectoral indices came under selling pressure, with IT and metals being the biggest drags. At 12 pm, the Nifty50 was trading 367 points lower at 15,873. 

For May 19 options contracts, the Nifty50 has sizable positions at 16,000 and 16,200 call options and 15,800 and 15,900 put options. Further, additions were seen in both 15,900 call options and put options. 

The Nifty50’s immediate support is at 15,600 and resistance is at 16,100 levels. 

Bank Nifty

Amid weakness in the broader market, the Bank Nifty also came under selling pressure and plummeted to 33,350-mark. With all 12 bank stocks trading in the red, at 12 pm, the Bank Nifty was trading 793 points lower at 33,370. 

For May 19 options contracts, the Bank Nifty has sizable positions at 33,500 and 34,500 call options and 33,000 and 33,500 put options. Further additions were seen in 33,500 call options and 33,000 put options.

The Bank Nifty’s immediate support is at 33,000 and resistance is at 34,100 levels. 


Stock Action 

Today’s top gainers are ITC, PI Industries, Metropolis, Abbott India and LIC Housing Finance. 

Today’s top losers are Manappuram, Mphasis, Trent, Lupin and Coforge. 


Sector Update

All the major sectoral indices are trading in red, with IT, Metal and Media being the top losers. Stocks like Mphasis, Coforge, Vedanta, Jindal Steel and Power and Zee Entertainment are trading in the red. 

Global Markets Update

Major European markets are likely to open lower as their futures are trading negative in the range of 0.6% to 1% . The US futures are also trading lower, down by 0.1%.

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