Friday, July 2, 2021

Stock Market Tomorrow | Nifty Pre Market Strategy | 05 July

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

   

Stock Market Today 

The Indian market snapped a four-day losing streak to close in the green on July 2. The Nifty, which slipped into the red managed to recoup losses, to close 42 points higher at 15,722. 

The Nifty posted a positive daily close on July 2 after four consecutive negative sessions. The selling pressure at the beginning of the session was absorbed near 15,650-15,630 and the index bounced back thereon.



Nifty Analysis


Key  Data


Futures & Options of S&P CNX NIFTY

Near Expiry date29/07/2021Lot Size50
Stock Close Price15722.2Trade Date02/07/2021
Futures Summary
Closing Price15741.55Premium/Discount19.35
Previous Close15710.60Change %0.197
Futures OI9298.95 KChange %-3.90
Futures Contracts106.98 KChange %-1.15
Call Summary
Max Traded Strike Price15700.00Contracts47.62 K
Cumulative Call OI20100.80 K% Change2.20
Put Summary
Max Traded Strike Price15700.00Contracts47.01 K
Cumulative Put OI25674.10 K% Change3.62

On the options front, maximum Put open interest was seen at 15,500 followed by 15,000 strike while maximum Call OI was seen at 16,000 followed by 16,500 Call writing was seen at 16,100 then 16,200 strike, while Put writing was seen at 15,000 then 15,500 strike.

The data indicates that the Nifty could see an immediate trading range of 15,600 to 15,900.


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Chart & Levels

nifty, finvestonline.com

Although Nifty succeeded to give positive closing after four consecutive day fall , but still trader should remain cautious  until Nifty gives clear closing of above 15813. 

If Nifty crosses 15813 then the index is set to take a leap towards 15,900, and once that is crossed on a closing basis, the Nifty can target 16,284  On the downside, 15,650-15,630 will continue to act as a crucial support zone on a closing basis.  Prefer buy on dips strategy now in Nifty.


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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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