Benchmark indices, Nifty and Sensex are likely to open with marginal gains on Tuesday on the back of positive start for Asian markets and the SGX Nifty, which was trading at 9,806 with gains of 33 points.
Major indices in the market ended near 2-week closing low on Monday. Nifty closed at 9,754 level, down by 83 points while Sensex closed at 31,258 level, down by 265 points. There were 521 advances, 1,161 declines and 287 unchanged stocks on NSE reflecting strong negative sentiments floating in the market. India VIX ended at 14.77 level, up by 1.38%.
Now going forward Nifty50 has major support around the level of 9,685 which is the recent swing low and if this swing low is breached then it may head towards levels of 9,630-9,600. On the other hand, 9,800 and 9,850 will not act as a stiff resistance.
On the options front, maximum open positions were added in the August series call options at strike level of 9,800. There was maximum call selling at this strike which signals cap to the Nifty’s up-move. On the put side, the same strike price witnessed maximum buying.
Nifty futures of August series ended at premium of 10 points. It had ended at premium of 17 points in previous trading session.
Major indices in the market ended near 2-week closing low on Monday. Nifty closed at 9,754 level, down by 83 points while Sensex closed at 31,258 level, down by 265 points. There were 521 advances, 1,161 declines and 287 unchanged stocks on NSE reflecting strong negative sentiments floating in the market. India VIX ended at 14.77 level, up by 1.38%.
Now going forward Nifty50 has major support around the level of 9,685 which is the recent swing low and if this swing low is breached then it may head towards levels of 9,630-9,600. On the other hand, 9,800 and 9,850 will not act as a stiff resistance.
On the options front, maximum open positions were added in the August series call options at strike level of 9,800. There was maximum call selling at this strike which signals cap to the Nifty’s up-move. On the put side, the same strike price witnessed maximum buying.
Nifty futures of August series ended at premium of 10 points. It had ended at premium of 17 points in previous trading session.
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