ETMarkets Evening Podcast: Money, Markets and everything else that matters to your wealth creation
Hi there! Good Evening. This is Kshitij Anand from ETMarkets.com taking you through the facts and figures from Tuesday's session on Dalal Street and bringing you cues and trading tips from market veterans for tomorrow's trade.
It was a day of consolidation for the Indian market ahead of exit poll and the outcome of US Federal Reserve meet next week.
The Nifty50 closed 0.18 per cent lower at Rs 8,946.90 on Tuesday while the S&P BSE Sensex ended 48 points down, below its crucial support level of 29,000 at 28,999.56. However, there was plenty of action in broader market which closed in green.
The S&P BSE Midcap index closed 0.14 per cent higher at 13,516.86, led by gains in UPL, HPCL, Shriram Transport, Colagate Palmolive, Tata Power, Adani Power, and Bajaj Holdings.
The S&P BSE Smallcap index closed 0.03 per cent higher at 13,675, led by gains in Delta Corp, MindTree, Bharat Financial, Trent, Tube Investments, and Dish TV.
In the sectoral landscape oil & gas, consumer durable, power, and capital goods stocks saw gains while metals, auto, telecom, healthcare stocks saw some profit booking decline.
So, what moved the market today? We have Hitesh Agrawal, EVP & Head - Retail Research, Religare Securities, giving us a lowdown.
Byte 1 Hitesh Agrawal
On the options front, maximum Put OI was seen at strike prices 8,800 followed by 8,700 while maximum Call OI was seen at strike prices 9,000 followed by 9,500.
Fresh Call writing was seen at strike prices 9,000, 9,100 as well as 9,200 which will create fresh hurdles for the index while fresh Put writing at strike prices 8,900, followed by 8,700 will act as crucial support for the index.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Amit Gupta, Head of Derivative from ICICI Securities. Over to you, Mr. Gupta.
Byte 2 Amit Gupta
On the technical front, Nifty50 formed a 'Bearish Belt Hold' kind of candle on the daily candlestick charts as it made an opening high and witnessed a decline of around 45 points from higher levels.
Overall, index has been consolidating in between 8,860 to 9,000 levels from the last ten trading sessions and now requires a decisive range breakout to start the next leg of rally.
It is struggling to surpass psychological 9,000 level and if it sustains below 8,920 then it may correct towards next support of 8,860 and 8,820.
So, does this technical setup signal a bullish undertone in the market? Chandan Taparia, Associate Vice President, Analyst - Derivatives at Motilal Oswal Securities, explains.
Byte 3 of Taparia
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
It was a day of consolidation for the Indian market ahead of exit poll and the outcome of US Federal Reserve meet next week.
The Nifty50 closed 0.18 per cent lower at Rs 8,946.90 on Tuesday while the S&P BSE Sensex ended 48 points down, below its crucial support level of 29,000 at 28,999.56. However, there was plenty of action in broader market which closed in green.
The S&P BSE Midcap index closed 0.14 per cent higher at 13,516.86, led by gains in UPL, HPCL, Shriram Transport, Colagate Palmolive, Tata Power, Adani Power, and Bajaj Holdings.
The S&P BSE Smallcap index closed 0.03 per cent higher at 13,675, led by gains in Delta Corp, MindTree, Bharat Financial, Trent, Tube Investments, and Dish TV.
In the sectoral landscape oil & gas, consumer durable, power, and capital goods stocks saw gains while metals, auto, telecom, healthcare stocks saw some profit booking decline.
So, what moved the market today? We have Hitesh Agrawal, EVP & Head - Retail Research, Religare Securities, giving us a lowdown.
Byte 1 Hitesh Agrawal
On the options front, maximum Put OI was seen at strike prices 8,800 followed by 8,700 while maximum Call OI was seen at strike prices 9,000 followed by 9,500.
Fresh Call writing was seen at strike prices 9,000, 9,100 as well as 9,200 which will create fresh hurdles for the index while fresh Put writing at strike prices 8,900, followed by 8,700 will act as crucial support for the index.
To give us a perspective on what the F&O market is signalling on where the market stands, we have with us Amit Gupta, Head of Derivative from ICICI Securities. Over to you, Mr. Gupta.
Byte 2 Amit Gupta
On the technical front, Nifty50 formed a 'Bearish Belt Hold' kind of candle on the daily candlestick charts as it made an opening high and witnessed a decline of around 45 points from higher levels.
Overall, index has been consolidating in between 8,860 to 9,000 levels from the last ten trading sessions and now requires a decisive range breakout to start the next leg of rally.
It is struggling to surpass psychological 9,000 level and if it sustains below 8,920 then it may correct towards next support of 8,860 and 8,820.
So, does this technical setup signal a bullish undertone in the market? Chandan Taparia, Associate Vice President, Analyst - Derivatives at Motilal Oswal Securities, explains.
Byte 3 of Taparia
That's all for now. Do come back for our pre-market podcast tomorrow morning. Have a great evening ahead!
