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Home / Markets / Stock Markets /  Trade setup for Aug 17, 2022: SGX Nifty, other things to know before stock market's Opening Bell
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Trade setup for Wednesday: Equaling the longest winning streak in 2022, so far, Indian stock market closed in positive territory on sixth straight session on Tuesday. NSE Nifty finished 127 points northward and closed at 17,825 levels whereas BSE Sensex 379 points and closed at 59,842 levels. Nifty Bank index ended 197 points higher at 39,239 mark. Among sectors, realty, power, oil & gas and auto indices gained the most while metal and telecom indices fell. Mid-cap and small-cap indices rose 1.03 per cent, outperforming the Nifty and the advance decline ratio was positive at 1.50:1.

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 surged 0.71 per cent, Nasdaq shed 0.19 per cent, S&P 500 added 0.19 per cent whereas Small Cap 20000.05 per cent. European shares extended gains for a fifth straight session on Tuesday, although investors fretted over signs of a sharp economic slowdown even as the Federal Reserve stays on the path of monetary tightening. Asian shares mostly rose Tuesday after a rebound on Wall Street, despite regional investor risks reflected in negative economic data out of China.

Asian markets early morning trends

In early morning deals on Wednesday, the Japanese Nikkei is up 0.89 per cent, Hing Kong's Hang Seng is down 1.05 per cent whereas South Korean Kospi is down by 0.25 per cent.

SGX Nifty technical outlook

In early morning session on Wednesday deals, SGX Nifty is down by 17 points to 17,873 mark, which signals flat opening for Dalal Street.

Speaking on SGX Nifty trend for today, Anuj Gupta, Vice President — Research at IIFL Securities said, “Indian markets may have a positive opening today as overall outlook for markets is still positive. Immediate support for SGX Nifty today is placed at 17,740 whereas immediate hurdle is placed at 18,020 mark."

Nifty technical outlook

"Nifty rose with another upside gap and closed near the intra day high. Sentiments have improved across the board post encouraging macro news locally. 17,921 is the next resistance while 17,719 could be the support in the near term," Deepak Jasani, Head of Retail Research at HDFC Securities.

"The immediate support for Nifty has now shifted higher to 17,720 followed by 17,600 while resistances are seen around 17,870 and 18,000," said Ruchit Jain, Lead Research at 5paisa.com.

Bank Nifty technical outlook

"The Bank Nifty ended with a small Doji candle on the daily chart and around its previous swing high resistance. So although there’s no confirmation of the reversal yet, one should reduce the quantum of long positions and take some money off the table as highly overbought readings around the resistance zone could lead to some profit booking in the near future," Ruchit Jain of 5paisa.com said.

"Immediate support for Nifty Bank is placed at 38,700 to 38,600 levels whereas immediate hurdle for the index is placed around 39,500 to 39,600 levels," said Mehul Kothari, AVP — Technical Research at Anand Rathi.

Nifty call Option data

As per data shown by nseindia.com at 3.30 pm on 16 August, major total Call open interest was seen at 17900, 18000 and 18100 strikes with total open interest of 84859, 147242 and 95711 contracts respectively. Major Call open interest addition was seen at 18000 and 18100 strikes which added 46954 and 40849 contracts respectively. Call unwinding was seen at 17600 and 17700 strikes which shed 10667 and 37413 contracts respectively.

Nifty Put Option data

As per data shown by nseindia.com at 3.30 pm on 16 August, Major total Put open interest was seen at 17600, 17700 and 17800 strikes with total open interest of 101555, 130832 and 108055 contracts respectively. Major Put open interest addition was seen at 17600, 17700 and 17800 strikes which added 28526, 71350 and 89976 contracts respectively. No major Put unwinding was seen at strikes ranging from 17500 to 18100.

Bank Nifty Call Option data

As per data shown by nseindia.com at 3.30 pm on 16 August, Major total Call open interest was seen at 39500 and 39800 strikes with total open interest of 100767 and 48013 contracts respectively. Major Call open interest addition was seen at 39300, 39400 and 39500 strikes which added 54972, 57903 and 30259 contracts respectively. Call unwinding was seen at 39000 strike which shed 19962 contracts.

Bank Nifty Put Option data

As per data shown by nseindia.com at 3.30 pm on 16 August, Major total Put open interest was seen at 38800, 38900 and 39000 strikes with total open interest of 61217, 39459 and 88322 contracts respectively. Major Put open interest addition was seen at 39200 and 38700 strikes which added 45901 and 17871 contracts respectively. No major Put unwinding was seen at strikes ranging from 38700 to 39700.

FII DII data

Foreign institutional investors (FIIs) have net bought 1,376.84 crore worth of shares, whereas domestic institutional investors (DIIs) have net sold 136.24 crore worth of shares on August 16, as per provisional data available on the NSE.

NSE F&O ban on 12th 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 17th August 2022. Securities in he 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 0.13 per cent to 2.820 whereas US 30 year bond yield is down by 0.26 per cent to 3.107.

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