India and the World: Monday morning opened with news of tepid earnings from Corporate America which dented the appetite for risky assets in the world's biggest economy. Weakness of the Asian markets were exposed on Monday even as traders nursed their wounds inflicted by losses at the Wall Street on Friday evening. India's benchmark Index Nifty was on the thresh-hold of a trend change and speculators were ready to sell the index if it traded below 7820. The stage was set for a sell off as S&P saw a maximum correction of 60 points from its highs of 2105. Figures showed that calls were written in the strikes of 7900,8000, and 8100 while puts were bought in the strikes of 7200, 7300 and 7400.
Markets in India remained flat at the opening session on Tuesday even as mixed global cues kept traders in the grey. The index needed to trade above 7992 or below 7780 to start the beginning of the a new trend. Surprisingly the SGX in America saw buyers overpowering the sellers and taking the market up by 30 points. The dollar index continued to be weak for the 6th consecutive day and was trading meekly at 92.5. The positional data of the FII and Prop traders were in stark contrast with the strength showed by the American markets.26K contracts were sold in the index futures by both participants combined. Calls were sold for the 2nd consecutive day in the strikes of 7900 and 8000. The Nifty opened 30 points gap down early on Wednesday after fast selling was seen in the 2nd half of trading on Tuesday. Global markets remained in a narrow range while manufacturing data from the UK , US and China pushed traders on the back-foot. Selling was witnessed in Crude Oil too which lost $2 in quick succession.
The 5th day of the May clearing saw short positions worth 3600 crores being built in the index futures by FIIs. Traders remained wary as the Nifty had broken its major level of 7792 and the next target of 7516 looked very much on the cards. Calls were being written in the strikes of 7800 and 8000.. The last day of the first trading week left traders high and dry with the market trading between 7701 and 7771. The narrow range together with choppy moves left both the seller and the buyer gasping for breath. Nifty closed at 7760 on Friday promising big moves in the days ahead.
By-https://www.dynamiclevels.com/en/shailesh-saraf-stock-market-today-070516
Markets in India remained flat at the opening session on Tuesday even as mixed global cues kept traders in the grey. The index needed to trade above 7992 or below 7780 to start the beginning of the a new trend. Surprisingly the SGX in America saw buyers overpowering the sellers and taking the market up by 30 points. The dollar index continued to be weak for the 6th consecutive day and was trading meekly at 92.5. The positional data of the FII and Prop traders were in stark contrast with the strength showed by the American markets.26K contracts were sold in the index futures by both participants combined. Calls were sold for the 2nd consecutive day in the strikes of 7900 and 8000. The Nifty opened 30 points gap down early on Wednesday after fast selling was seen in the 2nd half of trading on Tuesday. Global markets remained in a narrow range while manufacturing data from the UK , US and China pushed traders on the back-foot. Selling was witnessed in Crude Oil too which lost $2 in quick succession.
The 5th day of the May clearing saw short positions worth 3600 crores being built in the index futures by FIIs. Traders remained wary as the Nifty had broken its major level of 7792 and the next target of 7516 looked very much on the cards. Calls were being written in the strikes of 7800 and 8000.. The last day of the first trading week left traders high and dry with the market trading between 7701 and 7771. The narrow range together with choppy moves left both the seller and the buyer gasping for breath. Nifty closed at 7760 on Friday promising big moves in the days ahead.
By-https://www.dynamiclevels.com/en/shailesh-saraf-stock-market-today-070516
Dynamic Levels Weekly Wrap-Up
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