US President Donald Trump on Tuesday indicated fruitful trade talks with Indonesia, stating that he has made a great deal directly with the Indonesian President.
Trump has imposed a 19% levy on Indonesia as part of the trade pact. On the other hand, the US will pay “nothing” and have “full access” to Indonesia, he told reporters outside the White House.
Global Stock Market Today
Benchmark Nifty index ended higher at 25196 spot levels after gaining 114 points to its previous closing values.
Broader markets outperformed the benchmark as Mid and Small cap indices were up nearly 1% each.
All sectoral indices, tracked at NSE, ended in green. Amongst them, Auto, Pharma and Healthcare index were at the top of the tally, gained in range 1% to 1.5%.
Technically, Nifty index is trading in an upward sloping channel with immediate supports (lower band of the channel) placed around 24800 spot levels and price supports around 25000 spot levels. This kind of formation generally leads towards a gradual rise. Any dip towards the support zone of 25000-24800 spot levels should be taken as buying opportunity. Intraday supports are placed around 25000 spot levels and intraday resistance are at 25250-25300 spot levels.
Derivatives Overview & Outlook
Yesterday, Banknifty and Finnifty futures added around 3% of open interest each as long buildup while no significant change was seen in Nifty and Midcapnifty futures on open interest front.
All F&O sectors, barring Power, settled higher. Amongst them, Infrastructure, Pharma, Capital Goods and Realty stocks witnessed maximum addition of long positions along with some short covering among Auto and Chemicals stocks.
On option front, call writing along with put writing was seen at multiple strikes with maximum addition at 25200 PE. Maximum positions are at 26000 CE followed by 25500 CE and 25000 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 120 Cr in the cash segment, sold index futures worth Rs 153 Cr and bought stocks futures worth Rs 118 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 1555 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25400-25500; Supports 25200-25100
Banknifty – Resistances 57500-57800; Supports 57000-56800
Finnifty – Resistances 27100- 27200; Supports 26900-26800
F&O Security in Ban Today: GLENMARK, HINDCOPPER & RBLBANK
IMPORTANT RESULTS TODAY: ANGELONE, ITCHOTELS, LTTS & TECHM
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