Trade Setups for Tuesday: Key things to know before the stock market opens

stock market todayKey things to know before opening the bell

global market signals

Stocks in Asia retreated on Tuesday amid deepening concerns about a global economic slowdown, risks that are backing demand for bonds as a haven. Shares in Japan, South Korea and Australia fell, while futures for Hong Kong fell more than 1% earlier.

Wall Street ended a three-day winning streak and crude prices fell on Monday as economic data from the US, Europe and China showed demand weakening under inflationary pressure.

SGX Nifty

SGX Nifty Tuesday is a sign of a sharp start for the Indian stock markets. 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

,The early upside gaps of July 20, July 28 and July 29 remain intact and indicate a fast-moving gap. This signals Nifty can be placed in the middle of an up trend and one can expect further upside in the short term. However, Nifty is nearing key overhead resistance of 17400-17450 levels, as per the assumption of a change in polarity (initially on April 18 and some swing highs),” said Nagraj Shetty, Technical Research Analyst, HDFC Securities.

nifty call option data

As per the data, maximum total call open interest was observed at 17500 and 17600 strikes with total open interest of 130158 and 115342 contracts respectively. Maximum Call Open Interest additions were seen at 17400, 17500 and 17700 strikes which included 33667, 41465 and 30940 contracts respectively. Call unwinding was seen at the 17100 and 17200 strikes, which saw 38161 and 20693 contracts drop respectively.

nifty put option data

Maximum total put open interest was seen at 17000, 17100 and 17200 strikes with total open interest of 144326, 104061 and 169112 contracts. Maximum put open interest additions were seen at the 17200 and 17300 strikes, which included 139381 and 75710 contracts respectively. Profitmart Securities said the strikes from 17000 to 17700 saw no major put unwinding.

fii dii data

Foreign Institutional Investors (FIIs) made net purchases 2,320 crore shares, while domestic institutional investors (DIIs) made net sales As per provisional data available on NSE, shares worth 822 crores as on 1st August.

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