SGX Nifty suggest gap-up start for Sensex, Nifty; 5 things to know before market opens

Asian stock markets were seen trading mixed, even as S&P 500 made a record closing on Wall Street in overnight trade

Nifty futures were trading 38 points higher at 15,813 on Singaporean Exchange. The trends on SGX Nifty indicated a positive opening for BSE Sensex and Nifty 50 on the last day of the week. In the absence of any major event in the domestic market, Indian share markets will closely watch global cues, along with COVID-19 cases and the pace of vaccination drive. Asian stock markets were seen trading mixed, even as S&P 500 made a record closing on Wall Street in overnight trade. Analysts believe that Nifty remains in positive territory and may move towards 16,000.

Global markets: Shares in Asian stock markets were seen trading mixed. Japan’s Nikkei 225 was up 0.3 per cent while the Topix fell 0.12 per cent Over in South Korea, the Kospi edged nearly half a per cent higher. Shares in Australia were higher as the S&P/ASX 200 climbed 0.12 per cent. Wall Street stocks ended higher on Thursday, with the S&P 500 closing above its prior record high set on May 7. The Dow Jones Industrial Average rose 0.06 per cent, the S&P 500 gained 0.47 per cent, and the Nasdaq Composite added 0.78 per cent.

Call OI, PUT OI: The maximum PUT open interest (OI) was seen at 15,700 strike, implying a support for Nifty 50 at 15,700 level. This was followed by 15,400 strike. While the highest call OI was seen concentrated at 15,800, followed by 15,750 strike, according to NSE.

Nifty support, resistance levels: The short term uptrend status of Nifty remains intact and the recent weakness is expected to be overtaken in the short term, said an analyst. “A sustainable move above 15800 is expected to open another 200-300 points upside for the market ahead. Crucial support is placed at 15600,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

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