THURSDAY EXPIRY
F&O Radar| Deploy Short Strangle in Nifty to trade range-bound oscillation
Jain expects Nifty to be ranged between 24,300 and 23,800 and for the coming week expiry with 24,000 being the anchor point.
Tech View: Nifty forms ‘3 Advancing Soldiers’ pattern. Here’s how to trade on Thursday expiry
Nifty ended Wednesday session 147.5 points higher and formed a new peak at 23,889 level to form a long bull candle on the daily charts.
Nifty Bank hits fresh record highs! Here are key levels to track on Thursday
Nifty Bank hit a fresh record high at 51,398 on Wednesday. IndusInd Bank, ICICI Bank, HDFC Bank and Axis Bank were among top gains while AU Small Finance Bank and Bank of Baroda saw selling pressure. Though it inched closer to 52,000 in intraday trade, it failed to hold the momentum. The crucial support is placed at 51,000.
Tech View: Nifty facing hurdle at 23,400-23,500. Here’s how to trade on Thursday expiry
Nifty’s hourly momentum indicator has a negative crossover and so the rallies are short-lived and failing to persist at higher levels. Traders should opt for buy-on-a-dip strategy around 23,150 – 23,100.
Election Strategy: How Nifty, Nifty Bank traders can hedge portfolios
The major trend of the market remains intact-to-positive till it holds the formation of higher lows on a monthly scale. After hitting a new peak at 23,110 on Monday, the index consistently fell and ended in red each day throughout the week, hitting a low below the 22,500 mark on Thursday.
Market Mayhem: Sensex nosedives 617 points on F&O expiry day. Here are 5 factors behind today's crash
Bears were on a rampage on Thursday as selling pressure was witnessed in most sectors. Sensex hit the day's low of 73,668.73 and Nifty briefly slipped below 22,500. Indices plummeted for the fourth straight day, sending Dalal Street into a tailspin. Here are top five factors behind the blood bath. Investors lost 4.49 lakh crore.
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Tech View: Dark cloud pattern seen on Nifty charts. What traders should do on Thursday expiry
Nifty on Wednesday ended 183 points lower near the 22,700 level as the index formed a dark cloud cover candlestick pattern on the daily chart.
Tech View: Nifty inching closer to record high. What should traders do on Thursday expiry
Nifty closes 69 points higher, forming a bullish candle with strong buying interest. Holding above 22,590, it may reach 22,750, supported by 22,500. Analysts anticipate further uptrend, with key support at 22,500 and resistance at 22,800.
BSE's monthly expiry of single stock derivatives to change to 2nd Thursday from July 1
These contracts will not be available for trading from Monday, July 1, 2024, it said. The move comes as part of a partial modification to the exchange notice number dated September 8, 2021, and February 8, 2024, regarding the change in the expiry day of stock derivatives in equity derivatives segment.
Ahead of Market: 10 things that will decide D-Street action on Thursday
The benchmark NSE Nifty50 and the S&P BSE Sensex indexes each settled about 0.2% higher at 22,402 and 73,853, respectively. Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart which indicates indecisiveness prevailing in the marketplace at the current juncture.
Tech View: Nifty forms Doji candle ahead of monthly expiry. What traders should do on Thursday
Going ahead, 22,500 level remains a significant resistance on the monthly expiry day, but a sustained trade above 22,500-22,550 could trigger further upward movement, potentially driven by contract adjustments.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Nifty on Wednesday ended 338 points lower to slip below its immediate support of short-term moving average i.e. 20-DEMA and also breached the trendline support.
Tech View: Nifty breaches 20-DEMA, trendline support. What should traders do on Thursday expiry
A decisive move below 21,860 levels (last higher bottom of 29th Feb) could negate Nifty's bullish setup and that can eventually form a bearish pattern like lower tops and bottoms, Nagaraj Shetti of HDFC Securities said.
Tech View: Nifty ends above 21-EMA ahead of weekly expiry. What traders should do on Thursday
One may expect further upside in the coming sessions and the next upside levels to be watched around 22,800 and immediate support is at 22,300-22,250 levels, said Nagaraj Shetti of HDFC Securities.
D-Street ends volatile session in green on F&O expiry, ahead of key economic data
The 30-share BSE benchmark Sensex rose 195 points or 0.27% to settle at 72,500. The broader NSE Nifty gained 32 points or 0.14% to end at 21,982. IndusInd Bank, M&M, Power Grid, Maruti, and SBI were the top Sensex gainers, while TCS, Bharti Airtel, ITC, Tata Motors, and HUL closed with cuts. The market capitalisation of all listed companies on BSE surged by Rs 2.17 lakh crore to Rs 388.14 lakh crore.
Tech View: Nifty ends near 20-DEMA. What traders should do on Thursday expiry
Observing the daily chart, the index has been navigating within a rising channel. A decline below 21,950 could potentially trigger a correction towards 21,800 in the near term.
Global cues, FII flows, F&O expiry among 8 factors to drive Dalal Street this week
Benchmark indices gained close to 1% last week, reaching lifetime highs, driven by foreign investor inflows. Volatility is expected due to the expiry of the February derivative series. Nifty may reach 22400 and possibly 22700. Macro data and global markets will be monitored. Auto sales and IPOs are also noteworthy.
Tech View: Nifty forms bearish engulfing pattern ahead of expiry. What traders should do on Thursday
The bullish chart pattern like higher tops and bottoms continued as the per daily timeframe chart and Wednesday's swing high of 22,249 could now be considered as a new higher top of the sequence.
Tech View: Nifty awaiting upside breakout. What traders should do on Thursday expiry
Nifty on Wednesday ended flat with a gain of just one point and formed a small negative candle with a lower shadow on the daily chart ahead of the RBI policy outcome tomorrow.
Tech View: Nifty forms bullish piercing candle. What traders should do on Thursday expiry
The short-term trend of Nifty seems to have reversed up, but the uncertainty remains in the market at the highs. The market could encounter strong resistance around 21,500-21,600 levels in the coming session. Immediate support is at 21,220 level, said Nagaraj Shetti of HDFC Securities.
Tech View: Nifty forms Bullish Piercing candle ahead of Thursday expiry. What traders should do
“We are of the view that, 20-day SMA or 21,500/71,250 could act as a sacrosanct support level for the traders. Above the same, the pullback formation is likely to continue. Above which chances of hitting 21,720-21,760/71,900-72,100 would turn bright. However, below 20 day SMA or 21,500/71,250 the selling pressure is likely to accelerate. Below which, the market could slip till 21,400-21,355/71,000-70,800,” said Shrikant Chouhan of Kotak Securities.
Tech View: As a sell-on-rise strategy is in play, what Nifty traders should do on Thursday expiry
Nifty on Wednesday ended 148 points lower to form a long negative candle on the daily chart placed at the edge of breaking below the immediate support of 10-day EMA.
Tech View: Nifty forms long bull candle ahead of monthly expiry. What traders should do on Thursday
Positive chart patterns like higher tops and bottoms are intact as per the daily chart and currently, Nifty is moving towards the new higher top formation. Still, there is no confirmation of any higher top reversal at the highs. Having breached above the immediate resistance of 21,550-21,600 levels, there is a possibility of more upside in the short term.
Tech View: Nifty forms bearish engulfing candle. What traders should do on Thursday expiry
Further downsides are likely once the immediate support of 21,087 is broken. We believe that the Nifty could play down towards the next major support at 21,026-20,769 in the coming sessions
Tech View: Nifty forms Doji candle ahead of Fed meet outcome. What traders should do on Thursday expiry
The upside recovery of Wednesday from the immediate supports signals chances of further upside for the Nifty in the short term. There is a higher possibility of Nifty moving again into all-time highs of 21040+ levels in the near term.
Tech View: Nifty forms a long bull candle ahead of monthly expiry. What traders should do on Thursday
The short-term trend of Nifty continues to be positive. Having witnessed a decisive upside breakout of 19,900 levels, there is a possibility of continuation of sharp upside momentum for Nifty in the coming sessions. Open Interest (OI) data showed the call side had the highest OI at the 45,000 level, followed by 45,500 strike prices. On the put side, the highest OI was observed at the 44,000 strike price
Tech View: 19,850 proving big hurdle for Nifty bulls. What traders should do on Thursday expiry
While 19850 is proving to be a tough resistance to break, the short- term trend of Nifty remains range- bound with a positive bias. A decisive move above 19850-19900 levels is expected to open a sharp upside towards new all-time highs
Tech View: Consolidation on cards for Nifty. What traders should do on Thursday expiry
Technically, this pattern indicates a side-by-side bull candle-type pattern, but the placement of the pattern is not ideal. Hence, one may expect a minor upside bounce from here, but the sustainability of this bounce could be a big question on the market, said Nagaraj Shetti, HDFC Securities.
Equity markets to remain closed on Thursday, derivatives expiry today
Following the Maharashtra government's declaration of June 29 as a public holiday, there will be no transactions and settlements in government securities, foreign exchange, money markets and rupee interest rate derivatives on that day, the Reserve Bank of India said.
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