Volatility index India VIX lost 4 percent on Friday and ended at 17.60. However, on week on week basis, both Nifty 50 and BSE Sensex ended losing 1.06 per cent and 1.32 per cent respectively. Dollar index climbing to its 20 years high of 109.30 levels and fear of recession after US inflation soaring up to 41-year high continued to put pressure on the equity markets across world.
Global markets cues
At Wall Street on Friday, Dow Jones registered robust 2.15 per cent gain whereas tech heavy Nasdaq shot up 1.79 per cent. S&P 500 went up 1.92 per cent while Small Cap 2000 surged 1.94 per cent. Share prices were mixed in Asian markets on Friday after China reported its economy contracted by 2.6 per cent in the last quarter as virus shutdowns kept businesses closed and people at home. European stocks rallied on Friday after two Fed officials signaled support for a second straight 75-basis-point rate hike at the US Fed’s meeting later this month, alleviating some fears of a 100-basis point hike.
FII DII data
Foreign institutional investors (FIIs) have net sold ₹1649.36 crore worth of shares, whereas domestic institutional investors (DIIs) have net bought ₹1059.46 crore worth of shares on July 15, as per provisional data available on the NSE.
Nifty 50 technical outlook
“For entire week, week we do not expect a one sided move in the market and we continue to remain cautious. A move above 16275 might help the index move towards 16450 but we need to check whether the index sustains there or not. We would advise traders to keep booking short term profits at higher levels. On the downside; 15850 would be an important support for short term and a breach of the same might bring in nervousness back to our markets,” said Mehul Kothari, AVP — Technical Research at Anand Rathi.
On important levels in regard to Nifty today, Rajesh Bhosale, Technical Analyst at Angel One said, “Immediate support for Nifty is placed at 15,930 whereas it has strong base support placed at 15,850 levels. The 50-stock index is facing immediate resistance at 16,150 whereas 16,250 is working as strong hurdle for the index.”
Bank Nifty technical outlook
“High risk traders can assume small range of Bank Nifty in between 34,300 to 35,000 whereas broader range of Nifty Bank is placed in between 34,000 to 35,300 levels,” said Sumeet Bagadia, Executive Director at Choice Broking.
Chinmay Barve, Head — Technical and Derivatives Research at Profitmart Securities said, “The important levels, which will act as crucial support for the Nifty Bank index, are placed at price zone of 34,200 to 34,300 levels. On the upside, key resistance levels are placed at 35,000 and 35,250 levels.”
Nifty Call Option data
“Maximum total Call open interest was seen at 16200, 16300 and 16400 strikes with total open interest of 68291, 61028 and 66182 contracts respectively. Maximum Call open interest addition was seen at 16200, 16400 and 16500 strikes which added 24902, 23551 and 27970 contracts respectively. Call unwinding was seen at 15900 and 16000 strikes which shed 7751 and 3096 contracts respectively,” said Chinmay Barve of Profitmart Securities.
Nifty Put Option data
As per data shown by nseindia.com at 3.30 pm on 15 July, Maximum total Put open interest was seen at 16000, 15900 and 15800 strikes with total open interest of 88084, 81834 and 70607 contracts respectively. Maximum Put open interest addition was seen at 15800, 15900 and 16000 strike which added 35355, 43168 and 51268 contracts respectively. No major Put unwinding was seen at strikes ranging from 15700 to 16300.
Nifty Bank Call Option data
“Maximum total Call open interest was seen at 34800, 35000 and 35500 strikes with total open interest of 39101, 72375 and 60669 contracts respectively. Maximum Call open interest addition was seen at 34800, 35000 and 35500 strikes which added 17890, 28493 and 18046 contracts respectively. No major Call unwinding was seen at strikes ranging from 34500 to 35500 strikes,” said Chinmay Barve.
Nifty Bank Put Option data
As per data shown by nseindia.com at 3.30 pm on 15 July, Maximum total Put open interest was seen at 34500 and 34000 strikes with total open interest of 54338 and 43460 contracts respectively. Maximum Put open interest addition was seen at 34500 and 34000 strikes which added 32152 and 18022 contracts respectively. Put unwinding was seen at 35200 and 35500 strikes which shed 310 and 202 contracts respectively.
Stocks in F&O ban on 18th July 2022
The National Stock Exchange (NSE) has added Delta Corp stock under its F&O ban list for trade date 18 July 2022. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Board meetings scheduled on 18th July 2022
1] Bhansali Engineering Polymers Limited – Dividend;
2] Rane Engine Valve Limited – Financial results;
3] Bank of Maharashtra – Financial results;
4] Parag Milk Foods Limited – Fund raising/Other business matters;
5] Onward Technologies Limited – Financial results;
6] Metropolis Healthcare Limited – Other business matters;
7] Metropolis Healthcare Limited – Other business matters;
8] NELCO Limited – Financial results;
9] IndusInd Bank Limited – Fund raising/Other business matters;
10] HeidelbergCement India Limited – Financial results;
11] Ganesh Housing Corporation Limited – Financial results; and
12] Alok Industries Limited – Financial results.
Key corporate actions on 18 July 2022
1] Blue Dart Express Limited – Annual General Meeting/Dividend – ₹35 Per Share;
2] Adani Green Energy Limited – Annual General Meeting;
3] Adani Power Limited – Annual General Meeting;
4] Shoppers Stop Limited – Annual General Meeting;
5] Chemcon Speciality Chemicals Limited – Annual General Meeting;
6] GOCL Corporation Limited – Annual General Meeting/Dividend – ₹3 Per Share;
7] Laxmi Organic Industries Limited – Dividend – ₹0.70 Per Share; and
8] Adani Transmission Limited – Annual General Meeting.
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Read More: Trade setup for July 18, 2022: Things to know before stock market’s Opening Bell