Thursday, September 8, 2022

NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 9 SEP 2022

FOR LIVE OPTION CALL PUT TIPS WHATSAPP ON 9039542248

As strength spread across international markets and oil prices decreased, investors' worries about growing inflation were calmed, resulting in a wave of optimism in domestic financial markets. Despite premium valuations, consistent FII inflows are aiding Indian bourses to stay resilient. Equity benchmarks sharply increased on Thursday to snap a two-session losing run, even as global markets erased previous gains. The Sensex index rose 659 points, to end at 59688, and the broader Nifty climbed 174 points to 17798. Investors were on edge, however, as the ECB raised interest rates by a record 75 basis points later that day. As a result, European stocks gave up some of their early gains and the euro remained below parity with the dollar. On the weekly futures expiry day, markets traded positively and increased by about 1%, following reliable global cues. The participants were kept occupied by the overall sectoral growth, particularly in the banking and financial industries. Besides, buying in midcap and smallcap space added to the positivity. Nifty has again reached the upper band of the prevailing consolidation range (17600 -17,800) and a decisive breakout would fuel the next leg of the up move towards the 18000-18500 zone. Importantly, the rotational buying across sectors combined with steady foreign flows has strengthened the possibility of a breakout. Participants should align their positions accordingly and avoid contrarian trades.

Resistance: 17400, 17550, 17700

Support: 17300, 17150, 17000 

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