ETMarkets Evening Podcast: What happened in markets today and what awaits tomorrow
Hi there! Good Evening. This is Kshitij Anand from ETMarkets.com taking you through the facts and figures from Thursday's session on Dalal Street and bringing you cues and trading tips from market veterans for tomorrow's trade.
Bulls took charge of D-Street from the word go tracking strong global cues after getting knocked down in the previous session. However, the momentum wasn't enough to take the index above its crucial resistance level of 8,800. Till the time the index trades above 8720, it is 'buy on dips' market, suggest experts.
The S&P BSE Sensex closed 145.71 points higher or 0.52 per cent at 28,301.27 while Nifty50 ended 53.30 points up at 8,778. However, the rally was more pronounced in the broader market.
The S&P BSE Smallcap index ended 1.3 per cent higher while the S&P BSE Midcap index rose 1.25 per cent on Thursday.
In the sectoral landscape healthcare, IT, realty, consumer durables, auto, and metal stocks saw some gain while FMCG stocks saw some profit booking decline.
So, what moved the market today? We have with us Siddhartha Khemka, Head - Equity Research (Wealth) at Centrum Broking Limited, giving us a lowdown.
Byte 1 Siddhartha Khemka
On the options front, maximum Call OI was seen at strike prices 9,000 followed by 8,500 while maximum Put OI was seen at strike prices 8,500 followed by 8,700.
India VIX fell down by 3.38 per cent at 13.73 which indicates that decline is being bought as market managed to firmly hold its support zones.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Anup Chandak, Sr. Manager, Advisory at Sharekhan. Over to you, Mr. Chandak.
Byte 2 Chandak
On the technical front, Nifty50 managed to hold above 8,720 and witnessed a recovery towards 8,783 level. It formed a 'Harami' pattern on the daily chart as it traded inside the trading range of the last session which means it negated the immediate effect of selling pressure.
It has multiple hurdles placed near 8,820 and above that only bulls will get comfort in the market to extend this move towards 8,888 and 8,968.
So does this technical setup signal a cautious undertone in the market? Chandan Taparia, Associate Vice President, Analyst-Derivatives at Motilal Oswal Securities Limited, explains.
Byte 3 Chandan Taparia
That's all, for now, folks. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
Bulls took charge of D-Street from the word go tracking strong global cues after getting knocked down in the previous session. However, the momentum wasn't enough to take the index above its crucial resistance level of 8,800. Till the time the index trades above 8720, it is 'buy on dips' market, suggest experts.
The S&P BSE Sensex closed 145.71 points higher or 0.52 per cent at 28,301.27 while Nifty50 ended 53.30 points up at 8,778. However, the rally was more pronounced in the broader market.
The S&P BSE Smallcap index ended 1.3 per cent higher while the S&P BSE Midcap index rose 1.25 per cent on Thursday.
In the sectoral landscape healthcare, IT, realty, consumer durables, auto, and metal stocks saw some gain while FMCG stocks saw some profit booking decline.
So, what moved the market today? We have with us Siddhartha Khemka, Head - Equity Research (Wealth) at Centrum Broking Limited, giving us a lowdown.
Byte 1 Siddhartha Khemka
On the options front, maximum Call OI was seen at strike prices 9,000 followed by 8,500 while maximum Put OI was seen at strike prices 8,500 followed by 8,700.
India VIX fell down by 3.38 per cent at 13.73 which indicates that decline is being bought as market managed to firmly hold its support zones.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Anup Chandak, Sr. Manager, Advisory at Sharekhan. Over to you, Mr. Chandak.
Byte 2 Chandak
On the technical front, Nifty50 managed to hold above 8,720 and witnessed a recovery towards 8,783 level. It formed a 'Harami' pattern on the daily chart as it traded inside the trading range of the last session which means it negated the immediate effect of selling pressure.
It has multiple hurdles placed near 8,820 and above that only bulls will get comfort in the market to extend this move towards 8,888 and 8,968.
So does this technical setup signal a cautious undertone in the market? Chandan Taparia, Associate Vice President, Analyst-Derivatives at Motilal Oswal Securities Limited, explains.
Byte 3 Chandan Taparia
That's all, for now, folks. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
