Sensex, Nifty climbed over 1% on Monday to hit their highest level in a month as investors scooped up beaten-down tech and metal stocks, while the rupee posted fresh losses against the dollar earlier in the session. Sensex closed 760 points higher at 54,521. Nifty rose 1.4% to 16,278.
global market signals
Asian stocks fell on Tuesday as Japan’s stock struggled for traction while South Korea and Australia fell. Wall Street shares, on the other hand, fell on Monday, following an early rally following a report that Apple plans to reduce spending and hiring.
SGX Nifty
SGX Nifty signals a low start to Indian Share Market 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
“Voltility index India VIX lost 2.5% on Monday and ended at 17.16. The BSE Sensex added 760 points and ended Monday’s session at 54521. Nifty crossed its crucial resistance zone 16,200 – 16,250 on Monday and recorded its highest close since June 9. facing down, nifty Chinmoy Barve, Head of Technical & Derivatives Research at Profitmart Securities, said, “There is strong support in around 15,950 – 16,000 areas, while upward resistance is placed around 16,500 – 16,580 areas.”
“Nifty is currently placed at key overhead resistance of the previous opening downside gap of June 13 and also at the final swing high level of around 16,200-16,300 levels. Nagraj Shetty, Technical Research Analyst, HDFC Securities, said a sustained move above this zone could pull Nifty towards higher levels.
fii dii data
Foreign Institutional Investors (FIIs) made net purchases 156.08 crore shares, while Domestic Institutional Investors (DIIs) have made net purchases As per provisional data available on NSE, shares worth 844.33 crore as on July 18.
Nifty Call Option Data – Weekly Option Expiry 21 July 2022
As of 18 July data, the maximum total call open interest was seen at 16400, 16500 and 16600 strikes with total open interest of 89804, 105366 and 111459 contracts respectively. Maximum call open interest additions were seen at 16400 and 16500 strikes which included 23622 and 25642 contracts respectively. Barve of Profitmart Securities said call unwinding was witnessed at 16100 and 16150 strikes, leaving 27921 and 11243 contracts respectively.
Nifty Put Option Data – Weekly Option Expiry 21 July 2022
Maximum total put open interest was seen at 16000, 16100 and 16200 strikes, with total open interest of 128068, 103614 and 121560 contracts respectively. Maximum put open interest additions were seen at 16100 and 16200 strikes with 85341 and 113084 contracts added respectively. The strikes from 15900 to 16500 saw no major put opening.
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