F&O Morning Update for 23 May 2022

Blog | F&O

Global Markets Update

The SGX Nifty is trading in the green, up by 83 points. Major Asian markets are trading mixed. In Japan, the Nikkei rose 0.9% and Hong Kong’s Hang Seng index dropped 0.6% at 7 am India time.

On Friday, the Dow Jones recovered nearly 600 points from the day's low and ended marginally positive, up 0.03%. The tech-focused Nasdaq slipped 0.3%. European markets closed higher in the range of 0.2% to 1.1%.   


Stock Action

Long build-up was seen in Ramco Cements, Ashok Leyland, Zydus Lifesciences, GSPL and BHEL. 

Short build-up was seen in Godrej Consumer, CONCOR, Manappuram, Muthoot Finance and Shree Cement. 

Major companies announcing results today are Bsoft, Divi’s Labs, Ramco Cements and SAIL. 


F&O stocks in ban

Stocks in ban: BHEL, Delta Corp, GNFC, Indiabulls Housing Finance and PNB

Stocks added: BHEL

Stocks out of ban: 


FII/DII Activity**

In the cash market, FIIs were net sellers of ₹1,265 crore, while DIIs were net buyers of ₹2,148 crore. In the derivatives market, FIIs bought index futures worth ₹3,012 crore and bought index options worth ₹4898 crore. Further, they bought stock futures worth ₹2,998 crore and bought stock options worth ₹171 crore.

Index Action

Nifty50

On Friday, the Nifty50 bounced back sharply and ended the day 2.8% higher. Out of 50 stocks, 48 ended in the green, including Reliance Industries, which gained 5.8%. All the sectoral indices ended higher, with Media, Realty and Metal being the top gainers. The Nifty50 jumped 456 points and closed at 16,266. 

The India VIX dropped 5.9% to 23.10.

The Nifty50’s options contracts expiring on 26 May have sizable positions at 16,300 and 17,000 call options and 16,000 and 15,800 put options. 

As per options data, the broad range for the Nifty50 is between 15,500 and 16,900 levels. Its immediate support is at 15,900 and resistance is at 16,400 levels.

Bank Nifty 

The Bank Nifty reclaimed the 34,000-mark and ended 2.8% higher. The PSU banks outperformed their private peers, and all the 12 stocks of the index closed higher. The Bank Nifty gained 960 points and closed at 34,276. 

The Bank Nifty’s options contracts expiring on 26 May have sizable positions at 35,000 and 36,000 call options and 34,000 and 33,000 put options. 

As per the options data, the broad range for the Bank Nifty is between 33,000 and 35,500 levels. Its immediate support is at 33,700 and resistance is at 34,900 levels. 


*In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with an increase in price, and short build-up means an increase in Open Interest (OI) along with a decrease in price.

 **Source: nseindia.com. Cash market figures are provisional.

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