Table of Contents
Indian Stock Market Update: Cautious Opening Expected for Sensex and Nifty
- Global Trends and Market Reactions
- Despite positive trends in Gift Nifty, Indian stock market indices Sensex and Nifty 50 are expected to open cautiously.
- Asian markets traded lower following Wall Street losses, influenced by US inflation data.
- Japan’s Nikkei led the declines in Asian markets.
- In the US, notable declines were observed in major stocks like Tesla, Microsoft, Amazon, Meta, and Apple.
- US Market Influences
- US consumer prices dipped, marking the smallest annual increase in a year.
- US jobless claims fell more than expected.
- Interest rate futures indicate the US Federal Reserve may cut interest rates in September.
- Indian Market Performance
- On Thursday, Sensex and Nifty ended slightly down due to selective profit-taking.
- TCS reported a 3.2% net profit decline for Q1 FY25.
- Commodity Prices
- Gold prices remain steady, heading for a third consecutive weekly rise.
- Crude oil prices rose on strong demand and easing inflation.
- Securities in Ban Period
- Aditya Birla Fashion And Retail, Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers & Chemicals, GNFC, IEX, India Cement, Indus Tower, Piramal Enterprises, and RBL Bank.
Stay updated with the latest market trends and insights for informed investment decisions.
Stock Market Nifty Technical Analysis for the Day
- Market Close
- Closed flat with a negative bias, recouping over 100 points from the day’s low.
- Support and Resistance Levels
- Key support: 24,150 – 24,200
- Key resistance: 24,400
- Potential Movements
- Possible upside bounce from 10-Day Exponential Moving Average support.
- Sustained move above 24,500 could open doors for a rise to 24,900.
- Break below 24,150 might trigger further correction.
- Sector Impact
- Positive performance from TCS may benefit other IT companies in the Nifty 50.
Stock Market Bank Nifty Technical Analysis
- Support and Resistance Levels
- Immediate support: 52,000 (aligned with the 20-Day Moving Average)
- Key resistance: 52,530
- Potential Movements
- Sustaining below 51,900 may indicate continued weakness.
- Move above 52,530 could trigger a rebound towards 53,000 – 53,200.
- Holding 52,000 – 51,800 might lead to a pullback towards 52,500.
- Failure to hold 51,800 could lead to a decline towards 51,300 – 51,000.
Nifty Call Options Data
- Open Interest and Key Resistance
- Maximum open interest at 24,400 strike (1.25 crore contracts) indicates key resistance.
- Significant call writing at 24,300 strike (47.79 lakh contracts).
- Maximum call unwinding at 24,200 strike (9.87 lakh contracts).
Nifty Put Options Data
- Open Interest and Key Support
- Maximum open interest at 24,300 strike (2.12 crore contracts) signifies key support.
- Significant put writing at 24,300 strike (1.58 crore contracts).
- Maximum put unwinding at 23,000 strike (18.2 lakh contracts).
FAQs for Stock Market
1. What is the expected opening for Sensex and Nifty?
Despite positive trends in Gift Nifty, Indian stock market indices Sensex and Nifty 50 are expected to open cautiously.
2. How are global trends affecting the Indian market?
Asian markets traded lower following Wall Street losses, influenced by US inflation data. Japan’s Nikkei led the declines in Asian markets.
3. What recent US market influences are impacting global markets?
US consumer prices dipped, marking the smallest annual increase in a year, and US jobless claims fell more than expected. Interest rate futures indicate the US Federal Reserve may cut interest rates in September.
4. How did Sensex and Nifty perform recently?
On Thursday, Sensex and Nifty ended slightly down due to selective profit-taking.
5. What is the latest update on commodity prices?
Gold prices remain steady, heading for a third consecutive weekly rise. Crude oil prices rose on strong demand and easing inflation.
6. Which securities are in the ban period?
Aditya Birla Fashion And Retail, Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers & Chemicals, GNFC, IEX, India Cement, Indus Tower, Piramal Enterprises, and RBL Bank.
7. What are the key support and resistance levels for Nifty?
Key support levels are 24,150 – 24,200, and key resistance levels are 24,400. Sustained movement above 24,500 could open doors for a rise to 24,900, while a break below 24,150 might trigger further correction.
8. What are the key support and resistance levels for Bank Nifty?
Immediate support is at 52,000, and key resistance is at 52,530. Holding 52,000 – 51,800 might lead to a pullback towards 52,500, while failure to hold 51,800 could lead to a decline towards 51,300 – 51,000.
9. What does the Nifty call options data indicate?
Maximum open interest at 24,400 strike (1.25 crore contracts) indicates key resistance. Significant call writing at 24,300 strike (47.79 lakh contracts) and maximum call unwinding at 24,200 strike (9.87 lakh contracts).
10. What does the Nifty put options data suggest?
Maximum open interest at 24,300 strike (2.12 crore contracts) signifies key support. Significant put writing at 24,300 strike (1.58 crore contracts) and maximum put unwinding at 23,000 strike (18.2 lakh contracts).
Conclusion For Stock Market News:
The Indian stock market is experiencing cautious optimism amidst global trends and market reactions. Investors should keep an eye on key support and resistance levels, particularly in the Nifty and Bank Nifty indices, while also considering global economic indicators and their potential impact. Stay informed and strategic in your investment decisions to effectively navigate the market.
Disclaimer:
The information provided in this blog post is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy or sell any securities. Always do your own research and consult with a qualified financial advisor before making investment decisions.
Also Read : Mastering Best Option Trading: Unleashing the Power of PCR Ratio in Nifty and Bank Nifty.
