08 Sep , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Benchmark indices BSE Sensex, NSE Nifty 50 were trading in a positive territory on Thursday, a day of weekly F&O expiry. BSE Sensex gained 440 points or 0.75 per cent to 59,469, while NSE Nifty 50 crossed 17750. Asian Paints, Tech Mahindra, Bharti Airtel, M&M, ICICI Bank, Ultratech Cement, Infosys, Wipro, IndusInd bank, ITC, Hindustan Unilever were among top Sensex gainers. Index heavyweights such as ICICI Bank, Infosys, Housing Development Finance Corporation (HDFC), Asian Paints, Bharti Airtel contributed the most to the indices’ gain. Nifty Bank index was up nearly 1 per cent to trade at 39,772.
The short-term trend of Nifty continues to be range bound at 17750-17400 levels. Having moved up from near the lower range on Wednesday, there is a possibility that Nifty could make an attempt towards upper range and also crucial trend line resistance around 17800 levels in the coming sessions.
BSE Sensex gained 440 points or 0.75 per cent to 59,469, while NSE Nifty 50 crossed 17750.
Nifty Put options OI distribution shows that 17,500 has highest OI concentration followed by 17,400 & 17,300 which may act as support for current expiry and on the Call front 17,900 followed by 17,700 & 17,800 witnessed significant OI concentration and may act as resistance for current expiry. Options data suggest an immediate trading range between 17,400 and 17,800 levels & 17600 acting as pivotal levels.
“A long bull candle was formed on the daily chart after opening lower. Technically, this pattern indicates sideways movement in the market around 17750-17400 levels. Yesterday's upside recovery after a weak opening signal an emergence of buying interest from the lows. This is positive indication for the market ahead. Nifty cant be ruled out of another attempt towards the hurdle of 17800 levels in the coming sessions. Nifty on the weekly chart placed just below the crucial overhead resistance of significant down trend line around 17800 levels. The repeated hitting of the said hurdle was seen in the last few weeks. This indicates strength of underlying Nifty at the highs.”
“The short term trend of Nifty continues to be range bound at 17750-17400 levels. Having moved up from near the lower range on Wednesday, there is a possibility of Nifty making an attempt towards upper range and also crucial TL resistance around 17800 levels in the coming sessions.”
0 Comment