Trade setup for Tuesday: SGX Nifty, key things to know before stock market's opening bell today
Premium- Sensex and Nifty fell over 1% for the second straight session on Monday
Sensex and Nifty fell over 1% for the second straight session on Monday, dragged lower by metals and banks with global market weakness further weighing on sentiment. The BSE Sensex tumbled 872 points to close at 58,773.8. Similarly, the Nifty declined 1.5% to 17,490.7.
Stock market today: Key things to know before Opening Bell
Global cues
Stocks retreated in Asia on Tuesday after worries about Federal Reserve monetary tightening saddled US shares with their worst drop in two months while boosting bond yields and the dollar.
Stocks fell broadly on Wall Street, extending the market’s losses amid worries about inflation and the path ahead for the economy. The S&P 500 shed 2% on Monday, its biggest drop since mid-June.
SGX Nifty
SGX Nifty indicates a lower 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
MINT PREMIUM See All
“The positive sequence like higher tops and bottoms is still intact and and present weakness could be in line with the formation of new higher bottom of the sequence. But, a crucial downside reversal from the significant resistance and the formation of negative patterns as per daily and weekly charts signal possibility of some more cut for the market before showing any upside bounce from the lows," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Nifty Call Option data
As per data, major total Call open interest was seen at 17600, 17700 and 17800 strikes with total open interest of 155264, 136403 and 141653 contracts respectively. Major Call open interest addition was seen at 17600 and 17700 strikes which added 136430 and 103551 contracts respectively. Call unwinding was seen at 17900 strike which shed 50059 contracts.
Nifty Put Option data
Major total Put open interest was seen at 17300, 17400 and 17500 strikes with total open interest of 84508, 77158 and 114152 contracts respectively. Major Put open interest addition was seen at 17400 and 17500 strikes which added 18843 and 14420 contracts respectively. Put unwinding was seen at 17700 and 17800 strikes which shed 23302 and 36609 contracts respectively, highlighted Profitmart Securities.
FII DII data
Foreign institutional investors (FIIs) net sold ₹423 crore worth of shares, whereas domestic institutional investors (DIIs) net sold ₹85 crore worth of shares on August 22, as per provisional data available on the NSE.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less