Nifty to reclaim 18300 or bears to drag index below 18000- 5 things to know before share market opening bell
时间:2024-05-18 11:15:30 阅读(143)
Indian benchmark indices are likely to open in red amid weak global cues, hinted SGX Nifty. Nifty futures on the Singapore Exchange traded 60 pts lower at 18,088, signaling that Dalal Street is headed for a negative start. In the previous session, BSE Sensex rallied 361 pts to 60,927, while NSE Nifty 50 gained 118 pts to 18,132. “Recovery in the global indices, especially in the US, is offering the respite in absence of any major domestic trigger. The recent buoyancy in the banking pack combined with a recovery in the select index majors is encouraging however Nifty has multiple hurdles to cross before resuming the uptrend. We thus reiterate our view to focus on stock-specific opportunities and maintaining positions on both sides,” said Ajit Mishra, VP – Technical Research, Religare Broking Ltd.5 things to know before share market opens
Global market watch: Asia-Pacific markets mostly fell after Wall Street’s losses overnight as investors weighed headwinds for the economy in 2023. Hong Kong’s Hang Seng index added 2.43%. In mainland China, the Shanghai Composite dropped fractionally. South Korea’s Kospi fell 2.01%, and Japan’s Nikkei 225 was down 0.59%. Over in the US, the Dow Jones Industrial Average rose 0.11%, the S&P 500 lost 0.40%, and the Nasdaq Composite dropped 1.38%.
Levels to watch: Volume profile indicates Nifty may find strong support around 17900-18000 zone. Coming to the OI Data, on the call side, the highest OI observed at 18200 followed by 18300 strike price while on the put side, the highest OI was at 18000 strike price. On the other hand, Bank Nifty has support at 42300-42400 while resistance is placed at 43500-43600 range,” said Ameya Ranadive, Equity Research Analyst, Choice Broking.
FII and DII data: Foreign institutional investors (FIIs) sold shares worth Rs 867.65 crore, while domestic institutional investors (DIIs) purchased equities worth Rs 621.81 crore on Tuesday, 27 December, according to the provisional data available on the NSE.
Stocks under F&O ban on NSE: The National Stock Exchange has Balrampur Chini Mills, Indiabulls Housing Finance, and Punjab National Bank stocks under its F&O ban list for 28 December. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
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