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F&O Morning Update for 23 September 2022

Blog | F&O

Asian Markets Update @ 8 am

SGX NIFTY was trading lower by 97 points at 8 am, signalling a negative start for the NIFTY 50 today. In Hong Kong, the Hang Seng index declined 0.6%, while Japan's Nikkei 225 was shut on account of a holiday.

Global Markets Update 

U.S. markets declined for the third day in a row and closed Thursday's session lower. The Dow Jones fell 0.3% to 30,076, and the tech-heavy Nasdaq also slid 1.3% to 11,066. Yesterday, European markets closed sharply lower in the range of -1.0% to -1.8%.


Index Action

NIFTY 50 @ 17,629 📉▼ 88 (-0.5%)

Following a fall in the Rupee and weakness in global markets, NIFTY 50 tumbled 0.5% and closed lower for the second straight session.  Sectorally, Media (+1.8%) and FMCG (+1.3%) advanced the most, while Nifty Bank (-1.3%) and Realty (-0.2%) were the top losers. 

NIFTY 50’s options contracts expiring on 29 September have sizable positions at 18,000 and 17,700 call options and 17,500 and 17,000 put options. 

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As per options data, the broad range for the NIFTY 50 is between 16,600 and 18,400 levels. Its immediate support is at 17,400 and resistance is at 17,900 levels.

BANK NIFTY @ 40,630 📉▼ 572 (-1.3%)

BANK NIFTY index swung between gains and losses on Thursday and ended the volatile trading session lower. The index witnessed selling pressure at higher levels and closed 1.3% lower.

Except for Punjab National Bank (+0.8%) and Federal Bank (+0.1%), all the other ten stocks of the banking index closed in the red, with Axis Bank (-2.1%) and HDFC Bank (-2.1%) being the top laggards. 

BANK NIFTY’s options contracts expiring on 29 September are scattered and have sizable positions at 41,000 and 42,000 call options and 39,500 and 40,000 put options. 

As per the options data, the broad range for the BANK NIFTY is between 39,300 and 41,800 levels. Its immediate support is at 40,200 and resistance is at 41,100 levels.


FII and DII Data**

In the cash market, FIIs sold shares worth ₹2,509 crore, while DIIs bought shares worth ₹263 crore. In the derivatives market, FIIs sold index futures worth ₹2,437 crore and bought index options worth ₹2,361 crore. Further, they bought stock futures worth ₹691 crore and bought stock options worth ₹534 crore.

India VIX 

The India VIX, a gauge of the market's volatility in the near term, slipped 2.6% to 18.82.


Stock Action📊

Long build-up was seen in City Union Bank, ITC, Cummins India, Aditya Birla Fashion and Retail Ltd and Trent.

Short build-up was seen in Honeywell Automation, Tech Mahindra, Bank of Baroda, Coal India and Aurobindo Pharma.

Under F&O Ban: Ambuja Cements, Can Fin Homes, Delta Corp, Punjab National Bank and RBL Bank.


*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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