stock market today: Key things to know before the bell opens

Global indices

Global stocks and the U.S. dollar rose on Monday despite weaker-than-expected economic data from China that prompted its central bank to cut its lending rate, stoking fears of a global recession.

Stocks in Asia advanced little on Tuesday as growing signs of a sharp economic slowdown filtered through global markets, supporting the dollar and bonds while pushing commodity prices lower.

Clever SGX

SGX Nifty indicates a higher open for Indian stock markets on Tuesday. Singapore Nifty is the Indian Nifty which is traded on the Singapore Stock Exchange and is considered the first indication of the opening of the Indian markets.

Clever technical insights

“Nifty on the weekly chart has formed a long bullish candle, which is consecutive to the last four weeks and placed at the important overhead resistance of the downtrend line. Although Nifty has placed on the highs, there is no indication that a reversal pattern is playing out in the chart from smaller to larger timeframes at this time,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Smart call data

According to data presented by nseindia.com as of 3:30 p.m. on August 12, major total open interest for calls was seen at 17,800, 17,900 and 18,000 strikes with total open interest of 120,381, 61,656 and 100,431 contracts respectively. Adding open interest on the major call was seen at 17,800 and 18,000 strikes, which added 63,447 and 43,739 contracts respectively. The outcome of appeal was seen at 17400 strike which lost 788 contracts.

Smart Put Data

According to data presented by nseindia.com as of 3:30 p.m. on August 12, total major selling open interest was seen at 17,600 and 17,500 strikes with total open interest of 81,044 and 88,832 contracts respectively. The major addition of open put interests was seen at 17600, 17500 and 17400 strikes, which added 45063, 27358 and 25788 contracts respectively. No major unwinding of the put was seen in strikes ranging from 17,400 to 18,000.

FII DII Data

Foreign Institutional Investors (IFIs) bought ₹3,040 crore of shares, as domestic institutional investors (DIIs) sold off ₹839 crores in shares on August 12, according to preliminary data available on the NSE.

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