SGX Nifty jumped 100 pts, Sensex, Nifty eye gap-up start; 5 things to know before the market opens


Asian stock markets were trading higher as investors continue to monitor the China Evergrande group crisis.

Nifty futures were trading 105 points or 0.60% higher at 17,658 on the Singapore Stock Exchange, suggesting a strong open for BSE Sensex and Nifty 50 on the weekly F&O expiration day. In the previous session, the BSE Sensex stood at 58,927, down 78 points or 0.13% while the NSE Nifty 50 closed at 17,546, down 15 points or 0.09%. Analysts say Nifty remains in a medium-term uptrend for targets of 18,000 and above; any significant correction is a good buying opportunity. “Support for the September series is seen at 17325 while resistance is expected at 17600-177700 levels. The breakout of 17325 based on the close should result in selling pressure below 17000 levels,” Sahaj said. Agrawal, Head of Research and Derivatives at Kotak Securities.

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Global watch: Asian stock markets were trading higher as investors continue to monitor the China Evergrande group crisis. Hong Kong’s Hang Seng Index jumped nearly 2%. South Korea’s Kospi slipped 0.51%. Markets in Japan were closed on Thursday. The United States won in trading overnight on Wall Street. The Dow Jones Industrial Average rose 1.40% to 34,395.68, the S&P 500 by 1.25% and the Nasdaq Composite by 1.16%.

FII and DII data: Foreign Institutional Investors (FII) unloaded shares worth Rs 1,943.26 crore, while domestic institutional investors (DII) bought shares worth Rs 1,850.02 crore in the market Indian stocks.

Clever levels to watch out for: According to the daily charts, the main support levels for Nifty are placed at 17,510 followed by 17,435. If the index goes up, the main resistance levels to watch are 17660 and 17,785, an analyst said. “The index managed to close above the short-term support of its five-day exponential moving average (EMA). Momentum indicators such as RSI and MACD are also positive, suggesting that the near-term market should continue its momentum, ”Aprajita Saxena, research analyst, Trustline Securities, told The Bharat Express News Online.

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Call, PUT OI: On the derivatives front, a standoff was seen between callers and puters at the strike price of 17,600. On the upper side, 18,000 would now act as strong resistance, while 17,400-17250 levels are likely to act as strong areas of support, Saxena said.

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