ETMarkets Evening Podcast: Money, Markets and everything else that matters to your wealth creation
Hi there! Good Evening. This is Abhinav Kaul from ETMarkets.com and I will take you through the facts and figures from Friday's session and will bring you cues and trading tips from market veterans.
Share market indices closed on a flat note with marginal losses following negative global cues and heavy selling pressure in banking, automobile, and fast moving consumer goods (FMCG) stocks.
The 30-share BSE Sensex closed the day 7.34 points lower at 28,832.45, while the Nifty50 index settled the day at 8,897.55, down by 2.20 points.
The BSE Midcap and Smallcap indices outpaced other major indices.
So, what moved the market today? We have Omkar Tanksale, fundamental analyst at GEPL Capital, giving us a lowdown.
Byte 1 Tanksale
On the options front, maximum Put open interest was at 8800 followed by 8700 strike, while maximum Call open interest is at 9000 followed by 9100 strike. Put writing is intact at 8800 and fresh writing is seen at 8900 which is holding the market on decline while sustain Call writing at 8900 and 9000 strikes are keeping the limited upside. Overall market got stuck in the grip of option writers and requires an unwinding in 9000 Call to start the next leg of rally.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Ravi Sharma, Head - Derivative Desk, Prabhudas Lilladher
Byte 2 Sharma
Market experts believe Nifty formed a Bullish Hammer on daily chart and hovering near to its major trend line. Now it has to sustain above 8920 to witness an up move towards 8982-9000 while on the downside multiple supports are seen at 8850 and 8820.
So, what does this technical setup signal right now? Chandan Taparia, Associate Vice President, Analyst-Derivatives, Motilal Oswal Securities Limited explains
Byte 3 of Chandan Taparia
That's all for now. Do come back for our pre-market podcast on Monday morning. Have a great evening ahead!
Share market indices closed on a flat note with marginal losses following negative global cues and heavy selling pressure in banking, automobile, and fast moving consumer goods (FMCG) stocks.
The 30-share BSE Sensex closed the day 7.34 points lower at 28,832.45, while the Nifty50 index settled the day at 8,897.55, down by 2.20 points.
The BSE Midcap and Smallcap indices outpaced other major indices.
So, what moved the market today? We have Omkar Tanksale, fundamental analyst at GEPL Capital, giving us a lowdown.
Byte 1 Tanksale
On the options front, maximum Put open interest was at 8800 followed by 8700 strike, while maximum Call open interest is at 9000 followed by 9100 strike. Put writing is intact at 8800 and fresh writing is seen at 8900 which is holding the market on decline while sustain Call writing at 8900 and 9000 strikes are keeping the limited upside. Overall market got stuck in the grip of option writers and requires an unwinding in 9000 Call to start the next leg of rally.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Ravi Sharma, Head - Derivative Desk, Prabhudas Lilladher
Byte 2 Sharma
Market experts believe Nifty formed a Bullish Hammer on daily chart and hovering near to its major trend line. Now it has to sustain above 8920 to witness an up move towards 8982-9000 while on the downside multiple supports are seen at 8850 and 8820.
So, what does this technical setup signal right now? Chandan Taparia, Associate Vice President, Analyst-Derivatives, Motilal Oswal Securities Limited explains
Byte 3 of Chandan Taparia
That's all for now. Do come back for our pre-market podcast on Monday morning. Have a great evening ahead!
