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SGX Nifty up 1%: Nifty support, resistance, technical view, stocks under F&O ban; key things to watch out

Domestic stock indices BSE Sensex and NSE Nifty 50 were staring at a positive start on Monday, as suggested by trends on SGX Nifty in early trade.

NSE Nifty, BSE sensex
Nifty futures were trading 167.5 points or 1.07 per cent up at 15,868.50 on Singaporean Exchange. Image: Pixabay

Domestic stock indices BSE Sensex and NSE Nifty 50 were staring at a positive start on Monday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 167.5 points or 1.07 per cent up at 15,868.50 on Singaporean Exchange. In the previous session, the BSE Sensex closed 462 points, or 0.88 per cent higher at 52,728, the Nifty 50 ended at 15,699, up 143 points or 0.92 per cent. Analysts say stock markets will be driven by global trends, crude oil movement and foreign institutional investments this week, and benchmark indices may also face volatility amid the scheduled monthly derivatives expiry.

Key things to watch before stock market opens on 27 June 2022

Global cues: Asian stock markets were trading higher on Monday as investors assess inflation and recession fears. Japan’s Nikkei 225 was up 1%, while the Topix rose 0.78%. Wall Street’s main indices soared on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve’s rate-hike plans.

FPIs’ pull out Rs 46,000 cr in June so far: Foreign investors continue to desert Indian equity markets and pulled out close to Rs 46,000 crore so far this month following monetary policy tightening by the Reserve Bank and US Federal Reserve, high oil prices and volatile rupee.

Nifty technical view: The short term trend of Nifty continues to be positive, said an analyst. “Having placed at the significant overhead resistance at 15800 levels, there is a possibility of one more leg of small downward correction from the highs of around 15800-15900 levels by next week, before showing any decisive upside breakout,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

FII and DII data: On Friday, foreign institutional investors (FIIs) offloaded Rs 2,353.77 crore worth of shares, while domestic institutional investors (DIIs) remained buyers to the tune of Rs 2,213.44 crore worth of shares on a net basis in Indian stock market.

Stocks under F&O ban on NSE: Four stocks—Delta Corp, Indiabulls Housing Finance, RBL Bank, and Sun TV Network—are under the NSE F&O ban for 27 June 2022. If the open interest of any stock crosses 95% of the MWPL (market-wide positions limits), all F&O contracts of that stock enter a ban period.

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