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Home / Markets / Stock Markets /  Trade setup for Aug 18, 2022: Things to know before stock market's Opening Bell
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Trade setup for Thursday: Following positive global cues, Indian stock market finished on higher note on seventh successive session. NSE Nifty gained 119 points and closed at 17,944 levels whereas BSE Sensex surged 417 points and closed at 60,260 levels. Nifty Bank index finished 222 points higher at 39,461 mark. Mid-cap and small-cap indices rose less than the Nifty 50 index but advance decline ratio was positive at 1.57:1.

Here we list out key things that you should know before stock market's opening bell today:

Global markets cues

On Wall Street, Dow Jones ended 0.50 per cent lower, tech heavy Nasdaq crashed 1.25 per cent, S&P 500 dipped 0.72 per cent whereas Small Cap 2000 nosedived 1.60 per cent. European markets decline ahead of preliminary GDP for Euro Zone, unemployment and post the UK inflation number. U.K. consumer prices rose by 10.1 per cent in the 12 months to July, more than the 9.8 per cent expected and at a new 40-year high. Asian shares were mostly higher Wednesday as regional markets looked to strong economic signs out of the US and China as drivers of growth.

Asian markets early morning trends

In early morning deals on Thursday session, the Japanese Nikkei is down by 0.91 per cent, Hong Kong's Hang Seng gained 0.46 per cent whereas Chinese Shanghai went off 0.01 per cent.

SGX Nifty technical outlook

In early morning session on Thursday, SGX Nifty is quoting at 17,944 mark, 5 points higher from its Wednesday close. 

Speaking on SGX Nifty technical outlook, Anuj Gupta, Vice President — Research at IIFL Securities said, “Overall outlook for SGX Nifty is positive and Indian stock markets may have an upside opening on Thursday session. Immediate support for SGX Nifty today is placed at 17,820 levels whereas strong support for the index is placed at 17,700 levels. Similarly, immediate hurdle for the index is placed at 18,100 while 18,280 is working as strong hurdle for SGX Nifty today."

Nifty technical outlook

"Markets are less than 4 percent off their life time highs. Nifty continues its relentless rise and is currently outperforming global markets. Though there are no signs of reversal, the current uptrend is mature. On upside moves, 18,114 could act as a resistance while 17,719 is a support," said Deepak Jasani, Head of Retail Research at HDFC Securities.

Bank Nifty technical outlook

"Support for Nifty Bank index is placed at 39,050 to 39,100 levels whereas it is facing resistance at 39,900 to 39,950 mark," said Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher. The analyst went on to add that the broader range of the index can be assumed between 39,050 to 39,950 levels.

Nifty Call Option data

As per data shown by nseindia.com at 3.30 pm on 17 August, major total Call open interest was seen at 18000, 18100 and 18200 strikes with total open interest of 164881, 120545 and 128465 contracts respectively. Major Call open interest addition was seen at 18100 and 18200 strikes which added 27162 and 44502 contracts respectively. Call unwinding was seen at 17800 strike which shed 127690 contracts.

Nifty Put Option data

As per data shown by nseindia.com at 3.30 pm on 17 August, Major total Put open interest was seen at 17900, 17800 and 17700 strikes with total open interest of 148276, 173337 and 122768 contracts respectively. Major Put open interest addition was seen at 17900 and 17800 strikes which added 127939, 72329 contracts respectively. Put unwinding was seen at 17700 strike which shed 3237 contracts.

Nifty Bank Call Option data

As per data shown by nseindia.com at 3.30 pm on 17 August, Major total Call open interest was seen at 39600, 39800 and 40000 strikes with total open interest of 57856, 59272 and 118939 contracts respectively. Major Call open interest addition was seen at 39600 and 40000 strikes which added 28891 and 26435 contracts respectively. Call unwinding was seen at 39200, 39300 and 39400 strike which shed 25694, 29236 and 17399 contracts respectively.

Nifty Bank Put Option data

As per data shown by nseindia.com at 3.30 pm on 17 August, Major total Put open interest was seen at 39200, 39300 and 39400 strikes with total open interest of 64373, 76025 and 54745 contracts respectively. Major Put open interest addition was seen at 39400, 39300 and 39000 strikes which added 35344, 37203 and 35373 contracts respectively. No major Put unwinding was seen at strikes ranging from 39000 to 40000.

FII DII data

Foreign institutional investors (FIIs) have net bought 2347.22 crore worth of shares, whereas domestic institutional investors (DIIs) have net sold 510.23 crore worth of shares on August 17, as per provisional data available on the NSE.

NSE F&O ban on 18th August 2022

The National Stock Exchange (NSE) has added Balrampur Chini, Delta Corp and Tata Chemicals stock under its F&O ban list for trade date 18th August 2022. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.

US bond yield

US 10 year bond yield is down by 0.26 per cent to 2.888 whereas US 30 year bond yield is down by 0.07 per cent to 3.144.

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