F&O Mid-Market Update for 5 January 2022

Index Action

Nifty50

Nifty50 trades in a narrow range and oscillates between negative and positive territories. Gains in the Financials offset the fall in the IT stocks. At 12 pm today, it was trading 19 points higher at 17,825.

For January 6 options contracts, Nifty50 has sizable positions at 18,000 and 17,800 call options and 17,700 and 17,500 put options. Further, additions were seen in both 18,000 call options and 17,700 put options.

Nifty50 has immediate support at 17,300 and resistance is at 18,000 levels. 

Bank Nifty

With 10 out of the 12 stocks trading in green, Bank Nifty has surged more than 1.5% on a day where benchmark indices are subdued. At 12 pm today, it was trading 601 points higher at 37,441.

For January 6 options contracts, Bank Nifty has sizable positions at 38,000 and 37,500 call options and 37,000 and 36,500 put options. Further additions were seen at 37,500 call options and 37,000 put options. 

Bank Nifty has immediate support at 36,200 and resistance is at 38,100 levels. 

Stock Action 

Today’s top gainers are AU Small Finance Bank, Chambal Fertiliser, Bajaj Finserv, Laurus Labs and Bajaj Finance. 

Today’s top losers are Coforge, FSL, Tech Mahindra, Infosys and Mindtree. 

Sector Update

Among the Nifty sectoral indices, Banks and Metals have emerged as the leading sectors with buying interest today. Stocks like AU Small Finance Bank, Axis Bank, Kotak Mahindra Bank, Jindal Steel and Power and JSW Steel are trading in the green.

The IT and Media sectors came under selling pressure today. Stocks like Coforge, Tech Mahindra, Mphasis, and Zee Entertainment 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 -0.3% to +1.4%. US markets are also expected to open lower as the US Futures are trading in the red, down nearly 0.2%.