Pre Market Updates: Wednesday September 19
- U.S. stocks closed up Tuesday as investors shrugged off escalating trade tensions to instead focus on the robust economy.
- Major European indexes were mostly higher.
- Asian stocks mostly trading positive.
- Japan market is particularly higher, extending gains from the Tuesday session. Investors are looking ahead to the Bank of Japan’s monetary policy decision due later in the day.
- Yesterday our markets dragged by state-run banks after the government’s decision to merge Bank of Baroda, Dena Bank and Vijaya Bank. Market did not receive it well.
- Also the rupee depreciated following higher crude prices brings more negative sentiments.
- Huge call writing was witnessed in 11400CE it may act as a highest point in the September series as of now.
- Any pullback rally likely to test 11,350-11,400 zone
- Nifty may trade between 11230 and 11380.
Nifty50 Technical Analysis: Bearish Candle
- Nifty50 chart formed a Bearish Candle on daily scale and also closed below its 50 DEMA which indicates that Bears are holding the tight grip in the market
- It was the second consecutive day of lower-high lower-low formation for the index.
- Nifty max pain level currently at 11400
- Bank Nifty max pain level currently at 26600
Put Call Ratio
- Nifty 1.20 versus 1.28.
- Nifty Bank 0.58 versus 0.84.
Max O.I Strikes
- Nifty: 11500CE and 11200PE
- Bank Nifty: 27000CE , 26500PE
FnO Stocks under Ban