SGX Nifty signals gap-up start for Sensex, Nifty; five things to know before opening bell

Nifty futures were trading 37 points up at 13, 655.50 on Singaporean Exchange, indicating a gap-up opening for BSE Sensex and Nifty 50 on Thursday ahead of the Christmas holiday. Indian share market benchmark indices continued their rebound from losses of December 21, 2020, for the second straight day and ended higher in the previous session. Investors will keep tabs on newsflow related to new COVID-19 strain, coronavirus vaccine, oil prices, movement in rupee and other global cues along with stock-specific development. “In the coming days, the market will also focus on Brexit trade deals which are expected to be finalized soon and fallout in the economy due to strict lockdown,” said Vinod Nair, Head of Research at Geojit Financial Services.

Bulk deals: Adani Logistics sold more than 11.36 lakh shares of Snowman Logistics at Rs 53.04 per share through NSE bulk deal on Wednesday. While Standard Chartered Bank sold 1 crore shares of 3i Infotech at Rs 5.15 per share.

Call, Put option data: After recent gains, call writing has been seen at 14,000 strike, which also holds the maximum Call Open Interest (OI) with 29.89 lakh contracts. This is followed by 24.98 lakh contracts at 13,500 strike.
Most Put OI is at 13,000 strike with 47.94 lakh contracts, followed by 13,500 strike with 34.42 lakh contracts.

FII and DII data: On Wednesday, foreign institutional investors (FIIs) lapped up shares worth Rs 536.13 crore, while domestic institutional investors (DIIs) offloaded shares worth Rs 1,326.92 crore on a net basis in the Indian equity market, according to the provisional data available on the NSE.

Global markets: Asian stock markets were trading higher in the early trade on Thursday ahead of Christmas. Japan’s Nikkei 225 gained 0.47 per cent while the Topix index gained 0.51 per cent. South Korea’s Kospi added 0.78 per cent. In overnight trade on Wall Street, Dow Jones and S&P500 ended in the green. The Dow Jones Industrial Average rose 0.38 per cent, the S&P 500 gained 0.07 per cent, and the Nasdaq Composite dropped 0.29 per cent.

Nifty 50’s support, resistance: “The short term trend continues to remain down. However, with the intermediate uptrend still intact, we expect the recent correction to be more of a short term nature and may have possibly bottomed out with the strong price action seen in the last two sessions. It is important that the recent lows of 13131 are not broken for the uptrend to sustain,” said Subash Gangadharan, Technical and Derivative Analyst, HDFC Securities.