Trade setup for Tuesday: SGX Nifty, key things to know before stock market's opening bell today
Premium- SGX Nifty indicates a gap-up opening for the Indian stock markets on Tuesday
Indices extended gains as benchmark BSE Sensex rose by 130 points while Nifty extended gains for a fifth straight session in a range-bound trade on Friday as oil and gas, metal and power shares advanced in trade. The BSE index ended 130 points higher at 59,462 whereas NSE Nifty advanced 0.2% to close at 17,698.
Stock market today: Key things to know before Opening Bell
Global cues
Global equities and the U.S. dollar advanced on Monday despite weaker-than-expected economic data in China that prompted its central bank to cut its lending rate, stoking concerns of a global recession.
Stocks in Asia made little headway Tuesday as mounting signs of a sharp economic slowdown filtered across global markets, supporting the dollar and bonds while depressing commodity prices.
SGX Nifty
SGX Nifty indicates a gap-up opening for the Indian stock markets on Tuesday. Singapore Nifty is the Indian Nifty that is traded in Singapore Stock Exchange and is considered to be the first indication of the Indian markets opening.
Nifty technical outlook
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“Nifty on the weekly chart formed a long bull candle, which is consecutive of the last four weeks and placed at the important overhead resistance of down trend line. Though, Nifty placed at the highs, there is no indication of any reversal pattern unfolding in the smaller to larger timeframe chart as of now," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Nifty Call Option data
As per data shown by nseindia.com at 3.30 pm on 12 August, major total Call open interest was seen at 17800, 17900 and 18000 strikes with total open interest of 120381, 61656 and 100431 contracts respectively. Major Call open interest addition was seen at 17800 and 18000 strikes which added 63447 and 43739 contracts respectively. Call unwinding was seen at 17400 strike which shed 788 contracts.
Nifty Put Option data
As per data shown by nseindia.com at 3.30 pm on 12 August, Major total Put open interest was seen at 17600 and 17500 strikes with total open interest of 81044 and 88832 contracts respectively. Major Put open interest addition was seen at 17600, 17500 and 17400 strikes which added 45063, 27358 and 25788 contracts respectively. No major Put unwinding was seen at strikes ranging from 17400 to 18000.
FII DII data
Foreign institutional investors (FIIs) have net bought ₹3,040 crore worth of shares, whereas domestic institutional investors (DIIs) have net sold ₹839 crore worth of shares on August 12, as per provisional data available on the NSE.
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