10 things you must know before market opens on Tuesday
1. US China trade tension still persists. Dow Jones closed flat at -0.04 percent and S&P 500 closed positive by 0.24 percent.
2. SGX nifty went up by 0.25 percent and close at 9127 today morning.
3. Nifty went down by 0.74 percent and closed at 9037 and bank nifty under performed and it went down by 2.57 percent and closed at 17278 on friday.
4. India VIX fell by 1.89 percent and closed at 32.37 on Friday. VIX continuing to fall is a good sign of market stability.
5. FIIs have sold for 1353 crore and DII have also sold for 344 crore in cash market.
6. FIIs are net short by just 28382 contracts. Index options they have net long puts 88800 contracts.
7. We have come to the last few days of May expiry. Market traded in a narrow range yesterday due to drop in VIX for the past couple of days.
8. Monthly highest open interest on call – 9500 and on put – 9000 followed by 8500 levels. There is good number of put addition at 8900 and 8800 levels.
9. No major Nifty 50 stocks are expected to declare their results today.
10. Based on FII option data, our view for the day would be neutral to mildly bullish as long as 9000 levels hold. FIIs have net short position in futures as well as index options. Based on open interest, 9000 seems to be a good support for this month and if broken could lead to a greater fall. Immediate resistance is at 9500 levels which is unlikely to be tested this month.
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