January 21, 2022

F&O Morning Update for 21 January 2022

Blog | F&O

Global Markets Update

SGX Nifty is trading in the red, down by 151 points. Major Asian markets are trading in the red; Nikkei fell 1.5% and Hang Seng is down 0.3%.

European markets had a mixed closing in the range of -0.06% to 0.6%. US markets continue to struggle in a rising interest rate environment. Dow Jones fell 0.9% and NASDAQ closed 1.3% lower.

Stock Action

Long build-up was seen in Syngene International, Chola Investment, Power Grid, Navin Fluorine and NALCO.

Short build-up was seen in Cummins, HUL, TCS, Bajaj Finserv and MRF.

F&O stocks in ban

Stocks in ban: BHEL, Escorts, Granules, Indiabulls Housing Finance and Vodafone Idea

Stocks added: -

Stocks out of ban: SAIL

FII/DII Activity**

In the cash market, FIIs were net sellers of ₹4,679 crore while DIIs were net buyers of ₹769 crore. In the derivatives market, FIIs sold index futures worth ₹2,102 crore and bought index options worth ₹7,075 crore. Further, they bought stock futures worth ₹2,464 crore and sold stock options worth ₹128 crore.

Index Action

Nifty50

The Nifty50 closed with heavy losses for the third consecutive session. IT and Pharma stocks slumped as the Nifty50 drifted 181 points lower to close at 17,757.

India VIX slipped to 17.79.

The Nifty50’s monthly options expiring on January 27 have sizable positions at 18,000 and 18,500 call options and 18,000 and 17,500 put options.

As per options data, the broad range for Nifty50 is between 17,200 and 18,700 levels. Its immediate support is at 17,600 and resistance is at 18,200 levels.

Bank Nifty

The Bank Nifty opened higher but slipped with only 2 out of the 12 stocks closing in the green. It regained some lost ground toward close as it ended the day 190 points lower at 37,805.

The Bank Nifty’s monthly options expiring on January 27 have sizable positions at 38,000 and 38,500 call options and 38,000 and 37,000 put options.

As per options data, the broad range for Nifty50 is between 17,200 and 18,700 levels. Its immediate support is at 17,600 and resistance is at 18,200 levels.