30 Jun , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were trading nearly half a per cent up on Thursday, a day of weekly and monthly F&O expiry of July contracts. BSE Sensex jumped 250 points or 0.5 per cent to 53,278, while NSE Nifty 50 topped 15850. Reliance Industries Ltd (RIL), Kotak Mahindra Bank, Tata Steel, Power Grid Corporation of India, Sun Pharma, ICICI Bank, State Bank of India, were among top BSE Sensex gainers. Bajaj Finance, Hindustan Unilever Ltd (HUL), M&M, Tech Mahindra, Titan Company, ITCS HDFC Bank, HDFC were among top Sensex laggards. Except Nifty Realty, all the Nifty sectoral indices were ruling in the green. Nifty Bank index, and Nifty Metal gained 0.5 per cent each.
Despite the weakness seen in the global markets, the Nifty has held up pretty well for the past three sessions. This indicates near-term strength after the index had broken out of a bullish Head & Shoulder pattern on the hourly time frame last week. The Nifty now faces a minor resistance at 15880. If it sustains above it today, it could signal an end to this week's range-bound action. In such a case, the recovery could continue towards 16170 in the next few sessions. On the downside, this week's low of 15687 now becomes the immediate support for the bulls to defend.
The short term trend of Nifty continues to be choppy with negative bias. The present range bound movement in Nifty could continue for the next 1-2 sessions and immediate support to be watched around 15600-15650 levels. On the flip side, a decisive move above 15850-15900 levels is likely to open a sustainable upside for the market.
Nifty Put options OI distribution shows that 15,500 has highest OI concentration followed by 15,600 & 15,700 which may act as support for current expiry and on the Call front 16,000 followed by 16,100 & 15,900 witnessed significant OI concentration and may act as resistance for current expiry. Options data suggest an immediate trading range between 15,600 and 16,000 levels. In Nifty Call writing was witnessed at 16,000 , 16,100 & 15,900 ;while on Put side it was seen at 15,700 & 15,600.
0 Comment