Nifty momentum dull, don't expect vertical rise: Anand James on how to trade this week
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Hans India
3 hours ago
- Hans India
Nifty and Bank Nifty form Doji patterns amid mixed indicators signaling indecision
The Nifty 50 formed a Doji-like candlestick pattern on the daily chart, indicating indecision between bulls and bears. The index remains above its short-term moving averages, with the Relative Strength Index (RSI) at 61.02 showing a positive crossover. The MACD also remains in positive territory, though the fading histogram points to weakening momentum. Bank Nifty Analysis – Key Levels (56,949): Resistance (Pivot Points): 57,100, 57,174, 57,294 Support (Pivot Points): 56,860, 56,786, 56,666 Resistance (Fibonacci): 57,566, 58,224 Support (Fibonacci): 56,389, 59,096 Bank Nifty mirrored Nifty's lackluster movement with a Doji-like pattern on low volumes. Though trading above short-term MAs and the midline of Bollinger Bands, the index is showing signs of caution. The MACD has turned negative, and both the RSI (57.93) and Stochastic RSI suggest weakening bullish strength. Nifty Call Options – Weekly Data Highlights: Max Call OI: 26,000 strike (1.04 crore) – Key Resistance Next Major Strikes: 25,500 (88.99 lakh), 25,600 (79.57 lakh) Call Writing Dominated At: 25,600 (26.48 lakh contracts added) 26,000 (20.49 lakh) 25,500 (18.73 lakh) Call Unwinding At: 25,700 (5.04 lakh shed) 25,350, 25,300 (lower unwinding) Nifty Put Options – Support Zones: Max Put OI: 25,000 strike (70.17 lakh) – Strong Support Other High Strikes: 25,300 (67.23 lakh), 25,400 (63.3 lakh) Put Writing Dominated At: 25,300 (22.87 lakh contracts added) 25,400 (14.33 lakh) 24,800 (10.68 lakh) Put Unwinding At: 25,200 (5.88 lakh shed) 25,100, 25,600 (moderate unwinding) Bank Nifty Call Options – Monthly Data: Max Call OI: 56,000 (14 lakh) Next Highest: 57,000 (11.61 lakh), 57,500 (9.76 lakh) Call Writing Strongest At: 57,000 (68,285 contracts) 57,500 (65,555) 58,000 (30,205) Call Unwinding At: 58,800 (9,485 contracts) 56,800, 58,900 (moderate unwinding) Bank Nifty Put Options – Monthly View: Max Put OI: 56,000 (21.12 lakh) – Crucial Support Next High OIs: 57,000 (12.84 lakh), 56,500 (5.79 lakh) Put Writing Strongest At: 56,500 (24,045 contracts) 57,200 (19,670) 55,900 (16,135) Put Unwinding At: 56,800 (38,920 contracts) 57,500, 57,100 (notable unwinding) Put-Call Ratio (PCR): The Nifty PCR rose to 0.95, up from 0.93 in the previous session, signaling growing bullish sentiment. A rising PCR above 0.7 often reflects an increase in Put writing, implying traders expect the market to remain firm. A drop below 0.7 would hint at bearishness. While both indices have formed indecisive candlestick patterns, key indicators like RSI, MACD, and options data show mixed sentiment. Traders are advised to watch support at 25,000 (Nifty) and 56,000 (Bank Nifty) closely, while keeping an eye on resistance around 26,000 and 57,000, respectively. The market is delicately balanced, leaning towards cautious optimism.
Time of India
3 hours ago
- Time of India
Jane Street to contest SEBI's manipulation charges: Reports
Jane Street rejects allegations Jane Street vs SEBI Live Events Pushback on exchange claims (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Securities and Exchange Board ( SEBI ) has accused Jane Street , one of Wall Street's biggest trading firms, of running what it calls 'an intentional, well planned, and sinister scheme' to distort the country's markets. The Financial Times reported the regulator's findings on Monday. Reuters has not verified this Friday, SEBI barred Jane Street from trading in India and ordered it to return over 550 million dollars of what it describes as illegal profit. The ban follows allegations that Jane Street moved Indian bank stocks in ways that triggered large payouts on connected Street has told staff it will fight the ban. In a memo sent on Sunday to around 3,000 employees, senior management wrote they were 'beyond disappointed' by SEBI's 'extremely inflammatory' accusations.'It's deeply upsetting to see the firm mischaracterised this way,' said the memo, quoted by the Financial Times. 'We take pride in the role we serve in markets around the world, and it's painful to have our firm's reputation tarnished by a report based on so many erroneous or unsupported assertions.'Jane Street's trouble with SEBI links back to a lawsuit it filed last year against Millennium Management and two former traders who left for the hedge fund. In that case, Jane Street claimed the traders stole a valuable strategy that turned out to centre on Indian options. SEBI's probe zoomed in on Jane Street's trades linked to the BANKNIFTY index, which tracks India's major banking are now checking other parts of India's markets too. Jane Street has argued that the trades flagged by SEBI were nothing more than 'basic arbitrage trading', a normal practice in the order also says Jane Street ignored warnings from local stock exchanges. The firm disputes this point strongly. In the same memo to staff, Jane Street said the regulator used 'a metric for market impact and trading aggressiveness which seems disconnected from actual market dynamics'.The memo added that when exchanges first raised concerns, the firm 'immediately turned off its trading until we could better understand the exchanges' concerns' and later changed its approach to meet their 'preferences'.'Once again, we left this process feeling that we had reached an understanding of the concerns and reflected them in modifications to our trading behaviour,' the memo said. 'Since February, we have made ongoing efforts to communicate with SEBI and have been consistently rebuffed.'Jane Street has 21 days to object to SEBI's order and ask for a hearing. The firm says it is working on a detailed response and plans to fight the ban in the meantime, India's regulators say they may widen the investigation into other trades and instruments connected to the firm. Jane Street's future in one of Asia's biggest markets now hangs on how this fight plays out.
The Print
4 hours ago
- The Print
Sensex, Nifty close almost unchanged amid caution ahead of US tariff deadline
The 50-share NSE Nifty ended unchanged at 25,461.30 with 22 of its constituents settling higher and 28 in the red. After oscillating between highs and lows, the 30-share BSE Sensex finally ended 9.61 points or 0.01 per cent up at 83,442.50. The index hit a high of 83,516.82 and a low of 83,262.23 during the day. Mumbai, Jul 7 (PTI) Benchmark stock indices Sensex and Nifty closed almost unchanged on Monday in a highly volatile trade amid caution ahead of the July 9 US tariff deadline, weak trends in Asian markets and foreign fund outflows. Gains in FMCG and oil shares were offset by losses in IT and metal shares. Volatile trends engulfed markets amid concerns surrounding the US-India trade deal, experts said. July 9 marks the end of the 90-day suspension period of the Trump tariffs imposed on dozens of countries, including India. An additional import duty of 26 per cent was announced on Indian goods entering the US. 'Indian equity markets ended on a flat note on Monday, with the benchmark Nifty opening at 25,450, touching an intraday low of 25,407 and a high of 25,489. The index largely traded in a narrow range throughout the session as investors remained cautious ahead of the anticipated US tariff announcements. 'Market participants appeared reluctant to take aggressive positions, keeping the broader index range-bound,' Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, said. From the Sensex firms, Hindustan Unilever, Kotak Mahindra Bank, Trent, Reliance Industries, Asian Paints and ITC were among the gainers. However, Bharat Electronics Ltd, Tech Mahindra, UltraTech Cement, Maruti and Eternal were among the laggards. The BSE smallcap gauge declined 0.33 per cent and midcap index dipped 0.15 per cent. Among BSE sectoral indices, FMCG jumped the most by 1.50 per cent, followed by utilities (0.71 per cent), oil & gas (0.31 per cent), power (0.31 per cent), energy (0.28 per cent) and services (0.16 per cent). Telecommunication dropped 1.24 per cent, BSE Focused IT (0.74 per cent), commodities (0.66 per cent), IT (0.65 per cent) and metal (0.60 per cent). 'Markets made a muted start to the week and ended almost unchanged, continuing the ongoing consolidation phase. Markets remain in a wait-and-watch mode ahead of trade deal updates and the start of the earnings season,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, Japan's Nikkei 225 index and Hong Kong's Hang Seng settled lower while South Korea's Kospi and Shanghai's SSE Composite index ended higher. European markets were trading on a mixed note. The US markets ended in positive territory on Friday. Global oil benchmark Brent crude went up by 0.29 per cent to USD 68.50 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 760.11 crore on Friday, according to exchange data. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
