F&O Mid-Market Update for 28 January 2022

Index Action

Nifty50

The Nifty50 opened on a positive note and moved higher amid mixed global cues. Broad-based gains led by Realty, IT and Metal stocks pushed the index higher. At 12 pm today, it was trading 234 points higher at 17,344. 

For February 3 options contracts, the Nifty50 has sizable positions at 18,000 and 17,500 call options and 17,000 and 16,500 put options. Further, additions were seen in both 17,500 call options and 17,300 put options. 

The Nifty50 has immediate support at 16,800, and resistance is at 17,500 levels. 

Bank Nifty

The Bank Nifty opened higher but is trading in a tight range. At 12 pm today, it was trading 291 points higher at 38,274. The overall breadth of the banking stocks remains positive as 10 out of the 12 stocks are trading in green. 

For February 3 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 37,300, and resistance is at 38,700 levels. 

Stock Action 

Today’s top gainers are LIC Housing Finance, CanFin Homes, Coforge, Deepak Nitrite and Bata. 

Today’s top losers are TVS Motor, RBL Bank, Maruti Suzuki, Bandhan Bank and Chola Investments. 

Sector Update

Sectorally, all Nifty indices are trading in green, led by gains in Realty and IT sector. Stocks like Godrej properties, DLF, Coforge, Mindtree and Hindustan Copper are trading in green. 

Global Markets Update

Major European markets are likely to open mixed as their futures are trading in the range of -0.3% to +0.3%. US Futures are trading in the green, up by nearly 0.5%.