Friday, July 2, 2021

Stock Market Tomorrow | Nifty Pre Market Strategy | 02 July

 

Stock Market Tomorrow | Nifty Pre Market Strategy | finvestonline.com

Stock Market Today 

Indian market closed in the red for the fourth consecutive day on July 1. The Nifty50 ended 41 points lower at 15,680.

Volatility declined, a sign that the bulls are resting and they could bring volatility back. India VIX, the volatility indicator, closed at 12.63, the lowest level in the 18 months.



Nifty Analysis


Key  Data


Futures & Options of S&P CNX NIFTY

Near Expiry date29/07/2021Lot Size50
Stock Close Price15680.0Trade Date01/07/2021
Futures Summary
Closing Price15710.60Premium/Discount30.60
Previous Close15752.15Change %-0.264
Futures OI9676.05 KChange %0.193
Futures Contracts108.22 KChange %-19.79
Call Summary
Max Traded Strike Price16000.00Contracts41.83 K
Cumulative Call OI19667.90 K% Change-0.917
Put Summary
Max Traded Strike Price15700.00Contracts36.89 K
Cumulative Put OI24776.55 K% Change1.59


GREENPANEL | Stock Price Analysis & Outlook


Call option data

Maximum Call open interest of 26.17 lakh contracts was seen at 16000 strike, which will act as a crucial resistance level in the July series.

This is followed by 16500 strike, which holds 16.48 lakh contracts, and 16400 strike, which has accumulated 14.70 lakh contracts


Put option data

Maximum Put open interest of 31.51 lakh contracts was seen at 15500 strike, which will act as a crucial support level in the July series.

This is followed by 15000 strike, which holds 27.69 lakh contracts, and 15200 strike, which has accumulated 18.13 lakh contracts.




Chart & Levels

nifty price chart , finvestonline.com

Volatility is declining, which is a sign that bulls are resting and they could bring volatility to the market .Volatility declined further to drop to an 18-month low. The India VIX, which measures expected volatility in the market, fell 1.57 percent to 12.84, the lowest level since January 3, 2020.

Bears appear to be slowly tightening their grip over the indices as the Nifty50 closed below its seven-day-old minor consolidation zone present between 15,900 and 15,700.
If the index closes strongly above 15,735 in the next session, it may come back in the sideways territory with upsides remaining capped at 15,900. Otherwise Nifty can test 15606 in downside.

Traders need to be careful when adding long positions at high levels and such markets invite unpleasant events.






Thanks for your Precious Time.


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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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