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Trade setup for Monday: SGX Nifty, other things to know before stock market's Opening Bell today

Trade setup for Monday: Despite hawkish comments from the US Fed officials, Indian stock market finished on second successive session last Friday. Nifty 50 index gained 34 points and ended at 17,833, the highest closing level of the 50 stocks index since 14th January 2022. BSE Sensex surged 104 points and closed at 59,793 levels whereas Nifty Bank index finished 206 points higher at 40,415 mark.

As Dalal Street is gearing up for a fresh week session today, here we list out key things that one should know before stock market’s opening bell today:

Global markets cues

On Wall Street, Dow Jones gained 1.19 per cent, Nasdaq shot up 2.11 per cent, S&P 500 went up 1.53 per cent whereas Small Cap 2000 surged 1.92 per cent. Asian market brushed aside the hawkish comments from ECB and Fed and ended in green in today’s session. Japan and China markets rallied with impressive gains on Friday. The European market are also trading in the green at the time of this writing.

Asian markets cues

In early morning session on Monday, the Japanese Nikkei is up 1 per cent, Hong Kong’s hang Seng is up 2.69 per cent whereas Chinese Shanghai gained 0.82 per cent.

SGX Nifty today

In early morning deals today, SGX Nifty is quoting 28 points higher from its Friday close. It is currently trading at 17,870 levels that suggests gap up opening on Dalal Street today.

Nifty technical outlook

“After hitting a high around 18000 mark on 18th August, Nifty has seen a time-wise corrective phase where the index has traded within a broad range. However, our markets have relatively outperformed other global indices which have corrected during this period. Now although Nifty is still below the 18000 level, many other indices have already surpassed their respective swing highs, which indicates a buying interest in the broader markets. The important supports for Nifty 50 index are now placed around 17650 and 17500 levels while immediate resistance is seen around 18000,” said Ruchit Jain, Lead Research at 5paisa.com.

Nifty Bank technical outlook

On Nifty Bank technical outlook, Ruchit Jain of 5paisa.com said, “The Bank Nifty index has seen a decent outperformance so far where the short term trend remains positive. The short term support for this index is now placed around 39,120.”

Nifty Call Put Option data

On Nifty call put ratio, Shilpa Rout, Derivatives Lead Analyst at Prabhudas Lilladher said, “Nifty Option chain for the weekly expiry reflects on CE writers aggressively adding over a lakh contracts at 17900/18000/19000 strikes. PE writers standing tall at 17000PE/17700PE with overall close to a lakh contracts each. PCR OI at 17800 being just over 1, is going to be the deciding factor the road ahead for the index.”

Nifty bank call put data

“Bank Nifty Future Option chain on PE writers being active at various levels in between 39000PE – 40000PE (close to 70 thousand contracts at many strikes), with CE writers adding exposure of over a lakh contracts at 40500CE, followed by highest fresh additions of more than 40 thousand contracts at 44000CE,” Shilpa Rout said.

FII DII data

Foreign institutional investors (FIIs) have net bought 2132.42 crore worth of shares, whereas domestic institutional investors (DIIs) have net sold 1167.56 crore worth of shares on September 9, as per provisional data available on the NSE.

NSE F&O ban list

The National Stock Exchange (NSE) has added Delta Corp and Ambuja Cement stocks under its F&O ban list for trade date 12th September 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 0.34 per cent to 3.310 whereas US 30 year bond yield is down by 0.25 per cent to 3.447.

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