Market participants are expected to witness similar volatility and choppiness in the coming week as well amid an escalating trade war-like situation between the US and the EU over the Greenland issue. Following the new 10% tariffs by the US on the eight EU nations, the US market futures opened by over 1% lower on Monday morning, indicating weakness in the global markets.
The Asian markets also traded in red across the board with Japanese indices falling over 1% on Monday morning. The GIFT NIFTY futures traded 145 points lower, indicating a weak start for NIFTY50 on Monday.
On the technical front, the NIFTY50 held the crucial support of the weekly 20 EMA level of 25,649 on a closing basis. Experts believe the index will remain under 26,000 in the trade amid weak global cues, making it a crucial resistance. While the 26,640 levels of the 20 EMA will remain a crucial support on a weekly closing basis.
On the options data front, the 26,000 calls hold the highest open interest, indicating a strong resistance. On the downside, the 25,500 puts hold the highest open interest, indicating a near-term support for the index for tomorrow’s expiry.
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Long buildup: – Tech Mahindra, Wipro
Short buildup: Eternal, Jio Financial
Top traded futures contracts: Infy, Federal Bank
Top traded options contracts: Infy 1720 CE
F&O securities under ban:
F&O securities out of the ban:
To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply log in: https://pro.upstox.com/ ➡️F&O➡️Options smartlist/Futures smartlist In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with a price increase, and short build-up means an increase in Open Interest(OI) along with a price decrease-source: Upstox and NSE.