Here we list the important things that one should know first regarding the trade setup for Thursday’s session. Share Market Today’s Opening Bell:
global market signals
Wall Street closed in positive territory on Wednesday with seven days of decline in US markets. The Dow Jones rose 1.40 per cent, the Nasdaq 2.14 per cent, the S&P 500 1.83 per cent and the Small Cap 2000 2.16 per cent.
European and Asian stocks came under pressure on Wednesday after Chinese export data turned out to be worse than expected due to concerns over the health of the global economy. China’s exports and imports lost momentum in August as rising inflation crippled foreign demand and new Covid restrictions and heatwaves disrupted production, reviving downside risks to the volatile economy. Exports grew 7.1 per cent last month, compared to a growth of 18 per cent in July. Imports grew only 0.3% in August, from 2.3% a month earlier. This resulted in a trade surplus of $79.39 billion as compared to a surplus of $101.26 billion in July.
nifty technical outlook
“Nifty formed a lower top lower bottom candle than the previous session on Sept 07 but closed only at nominal lows. Nifty has been looking for direction over the past few days and is outperforming other countries – irrespective of Intraday or otherwise. Nifty may face resistance in the band 17,696 to 17,764 while 17,468 may provide support in the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
“Market breadth has been positive, but despite this, Nifty 50 index has been restricted to move higher. This is mainly due to factors like Rising Dollar Index, short formation by FIIs in the index futures segment and weak global markets. The index is now trading in a range of 17,800 to 17,400 and a breakout is needed beyond that for a directional move. Therefore, unless we see a breakout on either side, traders should be stock specific and look at the index. It is advisable to avoid directional trades.Intraday support for Nifty for the coming session is placed near 17,520 and 17,420, while resistance is seen near 17,690 and 17,760.
bank nifty technical outlook
“Bank Nifty is trading above 20, 50, 100 and 200-day SMAs, indicating a positive bias in the short to medium term. Bank Nifty remains in an uptrend in the short term, hence buying on dips remains our favourite. strategy,” said Rajesh Palviya, VP – Technical and Derivatives Research, Axis Securities.
On key levels with respect to Nifty Bank Index, Mehul Kothari, AVP – Technical Research at Anand Rathi said, “Support for Nifty Bank Index is placed at 39,000 to 39,100 level while it is facing hurdles in 39,700 to 39,800 zone. Therefore, the broad banking index can be considered in the range of 39,000 to 39,800.”
nifty call option data
As per the data shown by nseindia.com on September 07 at 3.30 PM, the major Total Call Open Interest was seen at 17700, 17800 and 17900 strikes with total Open Interest of 135803, 143645 and 141540 contracts respectively. Major call open interest additions were seen at the 17850 and 18000 strikes, with 33350 and 68311 contracts added respectively. Call unwinding was witnessed at 17800 strike which shed 22535 contracts.
nifty put option data
Major Total Put Open Interest was observed at 17600, 17500 and 17400 strikes with Total Open Interest being 117223, 163158 and 107454 contracts respectively. Major put open interest additions were seen at the 17600 and 17500 strikes, which included 38796 and 44511 contracts respectively. The strike of 17700 saw put unwinding, which shed 18208 contracts.
nifty bank call option data
Major total call open interest was seen at 39600, 39800 and 40000 strike with total open interest of 62377, 67965 and 140487 contracts respectively. The major call open interest additions were seen at the 39600 and 39700 strike which included 38459 and 14883 contracts respectively.
nifty bank put option data
Major total put open interest was seen at 39500, 39300 and 39000 strike with total open interest of 97583, 67918 and 105210 contracts respectively. Major put open interest additions were seen at 39400 and 39300 strikes which included 26294 and 27797 contracts. Put unwinding was seen at 39700 strike, with 22224 contracts short.
fii dii data
Foreign Institutional Investors (FIIs) made net purchases 758.37 crore shares, while Domestic Institutional Investors (DIIs) made net sales As per provisional data available on NSE, shares worth Rs 138.67 crore as on 7th 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 8 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 0.24 per cent to 3.273 while the US 30-year bond yield rose 0.48 per cent to 3.421.
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