Despite Friday’s decline, the Nifty 50 and BSE Sensex each ended the week up 1%.
India’s Equity Benchmark Index’s eight-day record-breaking run came to an end on Friday. Despite Friday’s declines, the Sensex and Nifty 50 indices each ended the week up 1%.
The Midcap index ended 3% higher, but it was a week of broader markets. Among other outperformers were metals stocks, with the index ending the week up 4% and technology stocks continuing to bounce back from his 52-week low. The IT index closed the week up 2.4%.
What does the chart suggest for Dalal Street?
According to Nagaraj Shetti, Technical Research Analyst at HDFC Securities, the Nifty 50 has formed a small negative candle on the daily chart for two consecutive trading sessions. “This pattern marks a minor resumption of profit-making from all-time highs,” he said.
Here are some key things to know about the market ahead of the December 5th session.
SGX Nifty
On Monday, Singapore Exchange (SGX) Nifty futures, an early indicator of the Nifty index, rose nearly 50 points (0.26%) to open slightly positive at 18,873.
global market
Asian markets opened in various ways this morning as oil prices rose as China eased some restrictions. Nikkei 225 is down his 0.1% and TOPIX is down his 0.2%.
Australia’s S&P ASX 200 is up 0.3% while South Korea’s Kospi is trading near the flat line. Asia-Pacific ex-Japan equities, MSCI’s broadest index, also traded up 0.2%.
Oil prices are up nearly 2%.
US markets on Wall Street have recovered from Friday’s session lows, past hotter-than-expected labor data and set their sights on the upcoming meeting of the US Federal Reserve.
The Dow Jones closed 0.1% higher after losing 350 points during the session. Even the Nasdaq Composite Index ended the week up more than 2%, trading broadly flat from his 1.6% decline in the day.
What to expect on Dalal street
HDFC Securities’ Shetty said the Nifty 50’s high of 18,887 was the index’s correction on Thursday and could be seen as a new high in the current high-low pattern. , is expected to find a higher bottom in the short term,” he said.
The contraction and expansion of the index time frame chart indicates that the price may rise from its lows in the next 1-2 trading sessions. Shetty sees immediate support for the Nifty 50 between the 18,550 and 18,450 levels.
Important Levels to Note
For the weekly option expiration on December 8, 19,000 strike calls added 31.14 million shares on Friday, while 18,900 calls added 22.68 million shares.
On the put side, 18,500 strikes added 1.8 million shares to open interest, while 18,400 puts added another 182,700 shares.
FII/DII activities
Here are the five stocks that have increased in open interest and price.
| stock | Current OI | CMP | Price change | OI change |
| United Brewery | 11,83,600 | 1,749.15 | 2.10% | 25.06% |
| Oracle Financial (OFSS) | 6,25,600 | 3,240.95 | 2.90% | 12.52% |
| Vedanta | 3,65,05,600 | 316.15 | 1.00% | 10.31% |
| L&T Finance Holdings | 6,06,74,276 | 92.10 | 3.31% | 10.21% |
| JK Cement | 5,09,250 | 3,252 | 0.89% | 6.20% |
Short buildup (falling price and rising open interest)
| stock | Current OI | CMP | Price change | OI change |
| eicher motors | 35,14,525 | 3,339.00 | -3.39% | 14.69% |
| sun tv | 1,00,57,500 | 495.70 | -0.64% | 6.70% |
| Bajaj Finance | 56,03,625 | 6,726.95 | -1.16% | 6.00% |
| Tata Consumer Products | 90,81,000 | 802.40 | -2.09% | 5.64% |
| maruti suzuki india | 31,23,400 | 8,884,95 | -1.64% | 5.51% |
Short covering (price rising and open interest falling)
| stock | Current OI | CMP | Price change | OI change |
| Bell | 9,54,34,500 | 91.65 | 7.63% | -11.01% |
| L&T Technology Service | 8,27,800 | 4,291.15 | 2.87% | -10.18% |
| Polycab India | 10,53,900 | 2,697.30 | 3.08% | -6.97% |
| Atul | 1,12,725 | 8,879.20 | 1.79% | -6.82% |
| Astral | 13,56,025 | 2,036 | 4.91% | -5.23% |
Long unwinding (decrease in price and open interest)
| stock | Current OI | CMP | Price change | OI change |
| HCL Tech | 1,04,46,100 | 1,143.80 | -0.16% | -7.75% |
| Sun Pharma | 1,58,19,300 | 1,043.40 | -0.83% | -6.78% |
| Baroda Bank | 8,25,84,450 | 172.35 | -0.20% | -6.75% |
| metropolis healthcare | 8,10,300 | 1,483.50 | -0.17% | -6.31% |
| Abbott India | 41,360 | 20,330 | -1.87% | -5.40% |
First published: IST
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