Trade Setup for August 17, 2022: SGX Nifty, Other Things to Know Before the Trading Bell Opens

Here we list the key things you need to know before the market opens today:

Global market signals

On Wall Street, the Dow Jones jumped 0.71%, the Nasdaq lost 0.19%, the S&P 500 added 0.19% while Small Cap 20,000.05%. European stocks extended their gains for a fifth consecutive session on Tuesday, although investors worried about signs of a sharp economic slowdown even as the Federal Reserve remains on the path of monetary tightening. Asian stocks mostly rose on Tuesday after a rebound on Wall Street, despite regional investor risks reflected in negative economic data out of China.

Asian Market Morning Trends

In early morning trading on Wednesday, Japan’s Nikkei is up 0.89%, Hing Kong’s Hang Seng is down 1.05% while South Korea’s Kospi is down 0.25%.

SGX Nifty Technical Outlook

In Wednesday’s morning offers session, SGX Nifty is down 17 points to 17,873, signaling a flat open for Dalal Street.

Speaking on the SGX Nifty trend for today, Anuj Gupta, VP – Research at IIFL Securities said, “Indian markets could have a positive open today as the overall market outlook is still positive. . Immediate support for SGX Nifty is today placed at 17,740 while immediate hurdle is placed at 18,020.”

Clever technical insights

“Nifty rose with another gap higher and closed near the intraday high. Sentiments improved across the board after some encouraging macro news locally. 17,921 is next resistance while 17,719 could be the near-term support,” Deepak Jasani, Head of Retail Research at HDFC Securities.

“Immediate support for Nifty has now moved to 17,720, followed by 17,600, while resistance is seen around 17,870 and 18,000,” said Ruchit Jain, Lead Research at 5paisa.com.

Bank Nifty Technical Outlook

“The Bank Nifty closed with a small Doji candle on the daily chart and around its previous swing high resistance. quantum of long positions and taking money off the table as heavily overbought readings around the resistance zone could lead to profit bookings in the near future,” said Ruchit Jain of 5paisa.com.

“The immediate support for Nifty Bank is placed between 38,700-38,600 levels while the immediate hurdle for the index is placed around 39,500-39,600 levels,” said Mehul Kothari, AVP – Technical Research at Anand Rathi. .

Clever call option data

According to data presented by nseindia.com at 3:30 p.m. on August 16, the major total open interest for calls was observed at 17900, 18000 and 18100 strikes with total open interest of 84859, 147242 and 95711 contracts respectively. The addition of open interest for the major call was seen at 18,000 and 18,100 strikes, which added 46,954 and 40,849 contracts respectively. An appeal outcome was observed at 17,600 and 17,700 strikes which lost 10,667 and 37,413 contracts respectively.

Smart Put Data

According to data presented by nseindia.com at 3:30 p.m. on August 16, total major selling open interest was seen at 17,600, 17,700 and 17,800 strikes with total open interest at 101,555, 130,832 and 108 055 contracts respectively. The major addition of open put interests was seen at 17600, 17700 and 17800 strikes, which added 28526, 71350 and 89976 contracts respectively. No major unwinding of the put was seen in strikes ranging from 17500 to 18100.

Bank Nifty Call Option Data

According to data presented by nseindia.com as of 3:30 p.m. on August 16, total open interest in major calls was seen at 39,500 and 39,800 strikes with total open interest of 100,767 and 48,013 contracts respectively. The addition of major call open interest was seen at 39300, 39400 and 39500 strikes, which added 54972, 57903 and 30259 contracts respectively. The outcome of the calls was noted during the strike of 39,000, which led to the cancellation of 19,962 contracts.

Bank Nifty Put Option Data

According to data presented by nseindia.com as of 3:30 p.m. on August 16, total major selling open interest was seen at 38,800, 38,900 and 39,000 strikes with total open interest of 61,217, 39,459 and 88 322 contracts respectively. The major addition of open put interests was seen at 39200 and 38700 strikes, which added 45901 and 17871 contracts respectively. No major unwinding of the put was seen on strikes ranging from 38700 to 39700.

FII DII Data

Foreign Institutional Investors (IFIs) bought 1,376.84 crore of shares, as domestic institutional investors (DII) sold net 136.24 crore shares on August 16, according to preliminary data available on the NSE.

Banned by F&O NSE on August 12, 2022

The National Stock Exchange (NSE) has added the shares of Balrampur Chini, Delta Corp and Tata Chemicals to its F&O blacklist for the trading date of August 17, 2022. Blacklisted securities under the F&O segment include companies in which the title crossed 95%. of the market-wide position limit.

U.S. bond yield

The 10-year US bond yield is down 0.13% at 2.820 while the 30-year US bond yield is down 0.26% at 3.107.

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