Trade setup for Wednesday: Major indices Sensex and Nifty closed with marginal gains despite rising tensions between the US and China, continuing the winning streak for the fifth day. NSE Nifty closed 5 points higher at 17,345 while Sensex closed 20 points higher at 58,136. The Nifty Bank index ended 120 points higher at 38,024. Volumes on the NSE were higher than the recent average. Among the sectors, power and FMCG indices were the biggest gainers while realty and IT indices declined the most. Broad market indices like mid-cap and small-cap outperformed Nifty but the forward decline ratio fell to 1.23:1.
global market signals
Following the escalating tensions between the US and China, wall Street There was a sell-off throughout Tuesday’s session. The Dow Jones closed 1.23 per cent south, the Nasdaq 0.16 per cent, the S&P 500 down 0.67 per cent while the Small Cap 2000 added 0.18 per cent in Tuesday’s deals. Disappointing manufacturing readings from Asia and Europe have also raised concerns over a possible global slowdown. European shares fell on Tuesday as weak global factory data fueled fears of an economic slowdown, while markets were up on hopes of US House of Representatives Speaker Nancy Pelosi moving to Taiwan.
Asian stock markets (particularly Taiwan, China and Hong Kong) have been rattled by rising tensions between the United States and China over the possible visit of US House of Representatives Speaker Nancy Pelosi to Taiwan.
nifty technical outlook
Deepak Jasani, Head of Retail, said, “Nifty looked to be stalled after 4 days of sharp rise. It may now consolidate/correct marginally before moving on to the next move. 17,173 to 17,390 Nifty in the near term Maybe the band.” Research, HDFC Securities.
“If we look at the lower time frame chart of Nifty, the momentum set ups are showing a negative divergence, although the index has crossed the previous day’s high, the oscillator has not created a divergence. Also Nifty is a significant hurdle. 61.8% retracement of the entire corrective phase of the last few months. Usually when such divergences in the overbought zone are around the critical resistance, it will be either time-wise or price-wise on the index in the short term. could lead to improvement in the market,” said Ruchit Jain, Lead Research, 5paisa.com.
Ruchi Jain further said that traders should book profits on long positions and look for some correction in the next few days. “Immediate support for Nifty is placed around 17200, below which the index may test the level of 17000. On the flipside, 17350-17400 is an immediate resistance zone,” Jain said.
bank nifty technical outlook
“Immediate support for Nifty Bank index is placed at 37,600 to 37,700 level while it is facing immediate hurdle at 38,400 to 38,500 level. Hence, the broader range for Bank Nifty is placed between 37,600 to 38,500 level. Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher.
nifty call option data
As per the data shown by nseindia.com on August 02 at 3.30 PM, the maximum total open interest was seen at 17400, 17500 and 17600 strikes with total open interest of 105183, 147426 and 116709 contracts respectively. Maximum call open interest additions were seen at 17400 and 17500 strikes which included 23721 and 21065 contracts respectively. Call unwinding was seen at 17000 and 17100 strikes, with 5992 and 6392 contracts short respectively.
nifty put option data
As per the data shown by nseindia.com on August 02 at 3.30 PM, the maximum total Put Open Interest was observed at 17200, 17100 and 17000 strikes with the total Open Interest being 170169, 102920 and 148594 contracts respectively. Maximum put open interest additions were seen at the 17300 and 17200 strikes, with 27534 and 6799 contracts added respectively. The strikes from 17000 to 17600 saw no major put opening.
nifty bank call option data
As per the data shown by nseindia.com on August 02 at 3.30 pm, the maximum total open interest was seen at 38200 and 38500 strikes, with the total open interest being 58807 and 67592 contracts respectively. Maximum call open interest growth was seen at 38300 and 38500 strikes, adding 17002 and 23897 contracts respectively. Call unwinding was witnessed at 37800 and 37500 strike, which shed 12216 and 13290 contracts respectively.
nifty bank put option data
As per the data shown by nseindia.com on August 02 at 3.30 PM, the maximum total Put Open Interest was seen at 38000, 37800 and 37500 strikes with total Open Interest of 94149, 65580 and 88259 contracts respectively. Maximum put open interest additions were seen at 38000 and 37900 strikes, with 55612 and 22945 contracts added respectively. No major put opening was observed in strikes from 37600 to 38600.
fii dii data
Foreign Institutional Investors (FIIs) made net purchases 825.18 crore shares, while Domestic Institutional Investors (DIIs) have bought shares worth 117.79 crore as on August 2, as per provisional data available on NSE.
Ban on NSE F&O on August 3, 2022
National Stock Exchange (NSE) has added Escorts stock under its F&O Sanctions List for the trading date 3 August 2022. Securities in the embargo period under the F&O segment include those companies in which the security has exceeded 95 per cent of the market-wide position limit. ,
US Bond Yield
The US 10-year bond yield declined 0.13 per cent to 2.737, while the US 30-year bond yield rose 0.67 per cent to 3.004.
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