Equity benchmarks closed marginally in the red for three days on Monday amid weak global cues and selling in IT stocks following TCS Q1 results. The rupee fell to a new lifetime low against the US dollar, further reducing risk appetite.
stock market todayThings to know before opening the bell
global market signals
Global stock markets fell mostly as investors digested fresh Covid-19 restrictions in China and prepared for a major US inflation report, while the dollar strengthened against other currencies.
Stocks in Asia were mostly lower on Tuesday as Japan led regional declines, while Hong Kong futures were also in the red after the worst fall in US-traded Chinese shares since May.
SGX Nifty
SGX Nifty There is a sign of decline in the Indian stock markets on Tuesday. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded on the Singapore Stock Exchange and is considered the first sign of the opening of the Indian markets.
nifty technical outlook
“On the daily time frame, Nifty index remains above its Near Term Moving Average. Momentum Oscillator RSI is maintaining its bullish crossover. “Short-term trend is likely to remain positive as long as it holds above 16000. At the higher end, resistance is visible at 16,300,” said Rupak Dey, Senior Technical Analyst, LKP Securities.
“The 5-day exponential moving average of the index remains above and above the 13- and 26-day averages, indicating that the short term trend is likely to remain higher. The momentum indicators suggest that the rally in the index is likely to continue in the very near term. The immediate support level for Nifty is placed at 15950 – 16000 zone while it is on the upside; “The index is likely to face strong resistance near 16480 and 16600,” said Chinmoy Barve, Head, Technical & Derivatives Research, Profitmart Securities.
nifty call option data
“As of July 11 data, the maximum total open interest was observed at 16300, 16500 and 16600 strike with total open interest of 91204, 100731 and 114469 respectively. The maximum call open interest addition was observed at 16300, 16500 and 16600 strike, Which added 24444, 22980 and 38270 contracts respectively. Call unwinding was witnessed at 16000 strike, which shed 2955 contracts,” Barve said.
nifty put option data
As per the data shown on July 11 at 3.30 PM, the maximum total Put Open Interest was observed at 16200, 16100 and 16000 strikes with total Open Interest of 99320, 101875 and 110143 contracts respectively. Maximum put open interest additions were seen at 16100, 16000 and 15950 strikes, which included 46547, 20157 and 30825 contracts respectively.
Stock Futures Long Build-up
INTELLECT – OI saw a rise of 24.36%, NAM-India OI 14.26%, COROMANDEL OI 14.13%, EICHERMOT OI 13.36%, ATUL OI 12.86%, EXIDEIND OI 11.51% and GRANULES OI 10.87%. Buildup in the July 2022 series where stock prices rose along with an increase in open interest.
stock futures short build-up
TCS OI up 20%, HCLTECH OI 17%, BHARTIARTL OI 12% and RAIN OI up 8.72% July 2022 series has witnessed short buildup where open interest has increased in the stock price.
FII/DII data
Foreign Institutional Investors (FIIs) made net selloff 170.51 crore shares, while Domestic Institutional Investors (DIIs) made net sales As per provisional data available on NSE, shares worth Rs 296.99 crore as on July 11.