Once once more Sensex and Nifty had been observed surging greater all through the day on Monday as the benchmark indices reached fresh all-time highs. S&P BSE Sensex now sits at 47,353 when the 50-stock NSE Nifty index was at 13,873, at the finish of Monday’s trading session. All sectoral indices, except Nifty pharma index, closed with gains. On Tuesday morning, SGX Nifty was trading with gains, hinting a gap-up begin for domestic equities. Asian peers had been largely in the green throughout the early hours of trade.
Global watch: Equity indices on the Wall Street closed with gains on Monday. Dow Jones was up .68% when S&P 500 zoomed .87%. Most of the Asian peers had been mirroring the up move on Tuesday. Hang Seng, Nikkei 225, TOPIX, KOSDAQ had been all trading in the green when Shanghai Composite and KOSPI had been trading flat.
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Support and Resistance levels: “The intermediate uptrend too is still intact and we are likely to see new life highs in the coming sessions. It is important that the supports of 13811-13729 are not broken for the uptrend to sustain,” stated Subash Gangadharan, Technical and Derivative Analyst, HDFC Securities. Analysts see Nifty reaching 14,00 levels quickly. “For the coming trading session, 13800 followed by 13750 should be treated as immediate supports; whereas, on the higher side, 13950 – 14000 are the levels to watch out for,” stated Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.
FII and DII information: On Monday morning, the vacation season did come in the way of Foreign Institutional Investors (FII) pouring funds into domestic securities. FIIs purchased domestic stock worth Rs 1,588 crore on Monday when Domestic Institutional Investors pulled funds away from markets, this time worth Rs 1,386 crore.
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Deals: On Monday Adani Logistics continued to sell its stake in Snowman Logistics. MACSF Epargne Retraite and Standard Chartered Bank sold shares of 3I Infotech Ltd. Nippon India Mutual Fund purchased shares of Fineotex Chemicals. Abakkus Emerign Opportunities Fund purchased shares of Rupa & Company.
Call and Put selection information: For the December series, maximum Call Open Interest (OI) is placed at 14,000 strike with 47.13 lakh contracts, this is followed by 29 lakh contracts at 13,900 strike. Put OI is the most at 13,000 strike with 56.88 lakh contracts, followed by 13,500 strike with 41.75 lakh contracts.