Live Nifty Market Trend @ F&O cues: Nifty 7100 Put adds 10 lakh shares in Open Interest

F&O cues: Nifty 7100 Put adds 10 lakh shares in Open Interest

F&O Cues:

Nifty 7300 Call added 17.3 lakh shares in Open Interest

Nifty 7400 Call added 11.3 lakh shares in Open Interest

Nifty 7600 Call shed 12.6 lakh shares in Open Interest

Nifty 7100 Put added 10 lakh shares in Open Interest

Nifty 7400 Put shed 13.3 lakh shares in Open Interest

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Nifty Technical Overview:

Nifty futures opened with negative note and witnessed bearish movement for the day. It showed slight recovery at last moment of the market but overall ended on negative note. Tomorrow nifty future is expected to go downside if it sustain below the level of 7350 then it can test the level of 7250-7200.

Bank Nifty Technical Overview:

Bank Nifty futures opened with negative note and witnessed bearish movement for the day. It showed slight recovery at last moment of the market but overall ended on negative note. Tomorrow it is expected to go downside if it sustain below the level of 15000 then it can test the level of 14700-14600.

INDIAN MARKET OVERVIEW:-

Global equity markets went into a freefall on Wednesday, as murmurs of an impending global recession and likely wave of debt defaults got louder. Nifty future down 131 points at 7306.

The 30-share BSE Sensex tumbled 418 points at 24062. The market breadth was very weak as about 460 shares advanced against 2167 declining shares on the BSE.

Axis Bank’s third quarter profit increased by 14.5 percent year-on-year to Rs 2,175.30 crore from Rs 1,899.76 crore, driven by other income and net interest income despite higher provisions.

Among frontline shares, Adani Ports, SBI, Coal India, Maruti, Tata Motors and Tata Steel were the big losers, tumbling 3-5 percent.

GLOBAL MARKET OVERVIEW:-

Asian stock markets slumped to fresh four-year lows on Wednesday as a relentless slide in oil prices snuffed out an attempted rally on Wall Street and dealt a further blow to global investors’ appetite for riskier assets.

European stocks dropped on Wednesday as a relentless slide in oil prices hit world markets.

The pan-European FTSEurofirst 300 index fell 2.3 percent to a 13-month low. Britain’s FTSE 100 fell 1.9 percent, Germany’s DAX slid 2.3 percent while France’s CAC retreated by 2.2 percent.

The US crude tumbled below USD 28 a barrel in Asia today, hitting new 12-year lows, after the International Energy Agency (IEA) warned that the oil market could “drown in oversupply”.