F&O Mid-Market Update for 27 January 2022

Index Action

Nifty50

The Nifty50 opened lower and slipped further in the trade as investor sentiment remained subdued following the U.S. Federal Reserve meeting and higher crude prices. A sell-off across sectors pulled the Nifty50 down, with Financial and IT being the worst hit. At 12 pm today, it was trading 348 points lower at 16,929.  

For January 27 options contracts, the Nifty50 has sizable positions at 17,000 and 17,200 call options and 17,000 and 16,900 put options. Further, additions were seen in both 17,000 call options and 16,900 put options. 

The Nifty50 has immediate support at 16,800 and resistance at 17,400 levels. 

Bank Nifty

The Bank Nifty opened in the red and traded in a narrow range. At 12 pm today, it was trading 562 points lower at 37,144. 

For January 27 options contracts, the Bank Nifty has sizable positions at 37,500 and 37,600 call options and 37,000 and 36,500 put options. Further additions were seen at 37,300 call and 37,000 put options. 

The Bank Nifty has immediate support at 36,200 and resistance is at 37,600 levels. 

Stock Action 

Today’s top gainers are BHEL, RBL Bank, Shriram Transport Finance, Canara Bank and IDFC. 

Today’s top losers are Torrent Pharma, Indiamart, Jubilant Foodworks, Apollo Hospitals, Trent and Mindtree.

Sector Update

Media and PSU Banks emerged as the leading sectors with buying interest today. Stocks like PVR, Canara Bank, Bank of Baroda and PNB are trading in the green. 

The Realty and IT sectors came under selling pressure today. Stocks like Godrej properties, DLF, Oberoi Realty, Mindtree and Coforge 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 -1.8% to +1.5%. The US Futures are trading in the red, down by nearly 1.1%.