Tuesday, July 4, 2017

Morning Cues for Indian markets July 5th 2017

FII DII Activity

FII continue to be negative in cash market thus putting pressure on Nifty.
DII continue to be extremely positive.

Global Markets

US markets were closed on july 4th owing to independence day. 

Asian and European markets were mostly in red.

Sgx Nifty

SGX Nifty indicates a flat to positive opening but the markets may go down and will trade sideways for lower levels and will take support at 9580 levels

Indian Market News

The 50-share NSE Nifty snapped its three-day winning streak on Tuesday, as the market breadth turned in favour of bears towards the closing trade. The index closed well below its opening level and made a bearish candle on the daily candlestick charts.
A bearish candle is formed when the close value is below the open value, how much the gap between the close and open doesn't matter. A formation of a bearish candle after a small bullish candle hints at a pause but investors can stay long with a stop below 9,540.
The Nifty, which opened at 9,645.90, slipped to an intraday low of 9,595.50 but bulls managed to pull the index back above its crucial level of 9,600. However, it lost some ground from its highest point of the day and closed at 9,613.30 down 1.7 points.
The index came under selling pressure as soon as it attempted to cross its psychological resistance level of 9,650.
Key Support & Resistance Level for Nifty:
The Nifty closed 1.70 points lower or 0.02 percent at 9,613.30. According to Pivot charts, the key support level for Nifty50 is placed at 9,588.98, followed by 9,564.67. If the index starts to move higher then key resistance levels to watch out are 9,644.13, followed by 9,674.97.
Nifty Bank:
Nifty Bank closed 58.6 points lower or 0.25 percent at 23,214.20 on Tuesday. Important Pivot level, which will act as crucial support for the index, is placed at 23,130.9 followed by 23,047.6. On the upside, the key resistance level is 23,330.3 followed by 23,446.4.
Call Options Data:
Maximum Call open interest (OI) of 38.71 lakh contracts stands at strike price 9,700 which will act as a crucial resistance level for the index in July series, followed by 9,600 which now holds 34.08 lakh contracts in open interest and 9,500 which has accumulated 26.95 lakh contracts in OI.
Call Writing was seen at strike prices 9,700 (4.9 lakh contracts added), followed by 9,900 (1.66 lakh contracts were added), 10,100 (1.05 lakh contracts added), 9,600 (0.79 lakh contracts added), and 9,400 (0.37 lakh contracts added).
Call unwinding was seen at strike prices 9,200 (0.54 lakh contracts shed), 9,500 (0.30 lakh contracts shed), and 9,800 (0.1 lakh contracts shed).
Put Options Data:
Maximum Put OI of 60.6 lakh contracts was seen at strike price 9,400 which will act as a crucial base for the index in July series followed by 9,500 which has accumulated 49.90 lakh contracts in open interest, and 9,300 which now holds 42.46 lakh contracts in open interest.
Put Writing was seen at strike prices 9,300 (8.1 lakh contracts added), followed by 9,600 (5.6 lakh contracts added), 9,400 (5.16 lakh contracts added), and 9,500 (4.69 lakh contracts added).
Put unwinding was seen at strike prices 9,200 (0.43 lakh contracts shed), and 9,800 (0.22 lakh contracts shed).
FII & DII Data:
The foreign institutional investors (FIIs) sold shares worth Rs 834 crore compared to domestic institutional investors who bought shares worth Rs 296 crore in Indian equity market.

Technical Analysis of stock GP Petroleum 

GP petroleum moved upwards after a head and shoulder pattern formation. This stock will face resistance at 95-102 levels after which a breakout is expected.

Rising crude oil prices are good for the company.

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