US President Donald Trump on Monday warned trading partners of ‘higher’ and ‘worse’ tariffs if they ‘play games’ following the Supreme Court’s verdict against his sweeping tariffs.
“Any country that wants to ‘play games’ with a ridiculous supreme court decision, especially those that have ‘Ripped Off’ the USA for years, and even decades, will be met with a much higher tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!!,” said Trump in a post on Truth Social.
Global Stock Market Today
Benchmark Nifty index ended higher at 25713 spot levels after adding 142 points to its previous closing values in an otherwise lackluster trading session.
Broader markets underperformed the benchmark as Small cap index settled on a slightly positive note whereas Mid cap index was down 0.43%.
Performance on the sectoral front was mix. Amongst them, PSU Bank index was at the top of the tally, gained 1.36% followed by Mid Small Healthcare index that rose 1.03%. On the other hand, IT and Chemical index were at the bottom of the tally, fell around 1.5% each.
Technically, Nifty index is trading in a congestion range having immediate resistance around 25800-25850 spot zone and supports around 25350-25250 spot zone. A sustained trading below 25600 spot levels might drag it towards the lower end of the congestion range i.e. 25350-25250 spot levels. Conversely, a decisive close above 25850 might lead it towards 26050 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, Nifty and Finnifty futures rose on long buildup, added 6.8% & 12.8% of open interest respectively, on the other hand, Banknifty and Finnifty futures added around 5% of open interest each without any significant change in the prices.
Performance on the sectoral front was mix. Amongst them, short covering were seen among Cement, Finance, Infrastructure & Pharma along with some long buildup among Oil & Gas Stocks. On the other hand, short buildup was seen among Banking & Chemical stocks.
On option front, put writing along with some call addition was seen at multiple strikes. Maximum positions are at 26000 CE followed by 26500 CE and 25500 PE followed by 25000 PE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 3484 Cr in the cash segment, bought index futures worth Rs 687 Cr also bought stocks futures worth Rs 2982 Cr. DIIs were net sellers in the cash segment to the tune of Rs 1292 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25850-25960; Supports 25600-25500
Banknifty – Resistances 61600-62000; Supports 61000-60600
Finnifty – Resistances 28550-28700; Supports -28400- 28300
F&O Security in Ban Today: SAIL
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