F&O Mid-Market Update for 21 January 2022

Index Action

Nifty50

Amid weak global cues, the Nifty50 opened lower and plunged to 17,500 levels with financial, metals and IT stocks extending losses. At 12 pm today, it was trading 132 points lower at 17,624. 

For January 27 options contracts, Nifty50 has sizable positions at 18,000 and 17,900 call options and 17,500 and 17,000 put options. Further, additions were seen in both 17,800 call options and 17,600 put options. 

The Nifty50 has immediate support at 17,500 and resistance is at 18,000 levels. 

Bank Nifty

The Bank Nifty slipped in opening trade and is seen consolidating thereafter. The overall breadth is negative as only 1 out of 12 banking stocks is trading in the green. At 12 pm today, it was trading 396 points lower at 37,454. 

For January 27 options contracts, Bank Nifty has sizable positions at 38,000 and 37,500 call options and 37,000 and 37,400 put options. Further additions were seen at both 37,500 call and put options. 

The Bank Nifty has immediate support at 36,800 and resistance is at 37,900 levels. 

Stock Action 

Today’s top gainers are Bajaj Auto, TVS Motor, Biocon, GNFC and Maruti Suzuki.  

Today’s top losers are ConCor, Havells, Indiamart, Dr.Lal Pathlabs and Bajaj Finserv. 

Sector Update

Auto and FMCG emerged as the leading sectors with buying interest today. Stocks like Bajaj Auto, TVS Motor, Maruti Suzuki, Tata Consumer and HUL. 

The Metal and Media sectors came under selling pressure today. Stocks like Coal India, JSPL, Tata Steel, Zee Entertainment and Sun TV. 

Global Markets Update

Major European markets are likely to open lower as their futures are trading flat to negative in the range of -1.1% to -0.01%. US Futures are trading flat with a negative bias, down by 3 points.