Trade setup for Wednesday: After the day’s ups and downs in both the sides, the trend of staying in the range continued with the volatility in the Indian stock market on Tuesday as well. Nifty 50 index fell 10 points to 17,655, BSE Sensex lost 48 points to 59,196 while Nifty Bank index lost 139 points to end at 39,666. Among sectors, power, oil & gas and metal indices rose the most, while bank, IT and FMCG indices fell the most. The mid-cap index was outperforming the Nifty by 0.47 per cent but the forward downside ratio was negative at 0.96:1.
Here we list the key things that you should know before the opening bell of the stock market today:
global market signals
Fearing the threat of recession, wall Street Stayed flat and ended up in the red zone. The Dow Jones was down 0.55 per cent, the tech-heavy Nasdaq 0.74 per cent lower, the S&P 500 fell 0.41 per cent, while the Small Cap 2000 fell 0.95 per cent on Tuesday. Asian markets were largely nominal though. European markets rose cautiously on Tuesday as investors continued to assess bearish risks in the region and gas prices fell 10 per cent as before.
The Reserve Bank of Australia on Tuesday raised its cash target rate by 50 basis points to 2.35 percent, its highest level since 2014, and the fifth interest rate hike so far this year.
nifty technical outlook
“Nifty, although after closing almost flat, formed a higher top higher bottom formation than the previous session. It formed a higher wave doji candle which suggests indecision after the rise. US Markets on Holiday Monday. The latter are set to open today and may impact Deepak Jasani, Head of Retail Research, HDFC Securities. “Our markets are opening on Wednesday. Nifty may remain in the 17,540 to 17,777 band for the near term.
Nifty Bank Technical Outlook
Mehul Kothari, AVP of Technical Research at Anand Rathi said, “Broad range of Nifty Bank Index is placed between 39,400 to 40,100 level, while high risk traders may consider a smaller range of Teh Banking Index between 39,500 to 40,000 mark “
nifty call option data
As per data shown by nseindia.com on Sep 06 at 3.30 PM, Major Total Call Open Interest was seen at 17700, 17800 and 17900 strikes with total Open Interest of 136910, 165809 and 109381 contracts respectively. Major call open interest increases were seen in the 17700, 17800 and 18000 strikes, which included 40924, 72863 and 33352 contracts respectively. Call unwinding was witnessed at 17600 strike which shed 26987 contracts.
nifty put option data
The major total put open interest was seen at 17600 and 17500 strikes with total open interest of 85059 and 130293 contracts respectively. The 17500 strike saw major put open interest additions consisting of 21536 contracts. Put unwinding was witnessed at 17600 strike which shed 24003 contracts.
nifty bank call option data
As per the data shown by nseindia.com on September 06 at 3.30 PM, the major Total Call Open Interest was seen at 39800 and 40000 strikes with Total Open Interest of 88670 and 134370 contracts respectively. The 40000 and 40100 strike saw major call open interest growth, which included 46598 and 33371 contracts respectively.
nifty bank put option data
Major Total Put Open Interest was seen at 39600 and 39500 strikes with Total Open Interest of 48427 and 89981 contracts respectively. Major put open interest additions were seen at 39500 and 39400 strikes which included 31482 and 11917 contracts. Put unwinding was seen at 39800 strike which shed 1799 contracts.
fii dii data
Foreign Institutional Investors (FIIs) made net purchases Shares worth Rs 1,144.53 crore, while Domestic Institutional Investors (DIIs) made net purchases As per provisional data available on NSE, the shares worth 632.97 crores as on 6th September.
NSE F&O Sanctions List
The National Stock Exchange (NSE) has added Delta Corp stock under its F&O sanctions list for the trading date of 7 September 2022. Securities in the embargo period under the F&O segment include those companies in which the security has exceeded 95 percent of the market-wide position. range
US Bond Yield
The US 10-year bond yield rose 0.10 per cent to 3.343 while the US 30-year bond yield rose 0.24 per cent to 3.491.
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