NIFTY getting more tightened in the zone

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What happened yesterday?             

Indian Market

Indian indices ended lower on Monday due to profit booking. The BSE Sensex and NSE Nifty opened strong but failed to hold onto gains as investors booked profits due to sustained foreign outflows and weak September quarterly earnings.

At close, the Sensex fell 73.48, or 0.1%, to 81,151.27, while the Nifty 50 slid 72.95 points, or 0.3%, to 24,781.10.

• Tata Consumer Products TATACONSUM emerged as Monday's top loser, with shares plunging 7%, followed by Kotak Mahindra Bank KOTAKBANK and Bajaj Finserv BAJAJFINSV.


• Conversely, Bajaj Auto (NSE:BAJAJ/AUTO, BAJAJ_AUTO), HDFC Bank HDFCBANK and Asian Paints ASIANPAINT were the top gainers.

• In corporate news, Great Eastern Shipping Company GESHIP has completed the delivery of its supramax dry bulk carrier named "Jag Rani" to the buyers, according to a Monday filing with the stock exchanges.

• Meanwhile, Allied Blenders and Distillers AABDL has entered into a distribution agreement with Russian vodka producer Roust Corporation, to launch Russian Standard Vodka in India, according to a Monday bourse filing.

FII net sold for -2,2631.83 crores

DII net bought for +3,225.91 crores

US Market

The Dow Jones Industrial Average and the S&P 500 retreated from Friday's record-high closings as markets awaited the latest financial results from major companies due later in the week.

The Dow fell 0.8% to 42,931.6 on Monday, while the S&P 500 dropped 0.2% to 5,854. The Nasdaq Composite rose 0.3% to 18,540. Barring technology, all sectors closed lower, led by real estate.

• Tesla TSLA, Boeing BA, Coca-Cola KO, T-Mobile US TMUS, IBM IBM, GE Aerospace GE, Philip Morris International PM, Verizon Communications VZ, AT&T T, Lockheed Martin LMT, United Parcel Service UPS and Southwest Airlines LUV are among the major companies expected to report their latest quarterly results this week.

• In company news, Microchip Technology MCHP shares fell 2.8%, among the steepest decliners on the Nasdaq, as Susquehanna adjusted its price target on the stock to $95 from $105.

• Boeing was the top gainer on the Dow and among the best on the S&P 500, up 3.1%. The plane maker has reached a new tentative labor deal with the International Association of Machinists and Aerospace Workers to end a strike, Boeing and the union said Saturday.

• Kenvue KVUE shares rose 5.5% Monday, the best performer on the S&P 500. Hedge fund Starboard Value has acquired a stake in the company, media outlets reported Sunday, citing unnamed sources.

• The US 10-year yield jumped 11.9 basis points to 4.19% Monday, while the two-year rate rose 7.2 basis points to 4.03%.

• Although the economy is strong and stable, the macro outlook continues to face "meaningful" uncertainties, Logan said. Downside risks to the labor market have grown, while inflation poses "diminished but still real upside" risks, she added.

• West Texas Intermediate crude oil increased 1.6% to $70.35 a barrel. "Oil prices were up, following a more than 7% drop last week on worries about demand in China, and an easing of concerns about potential supply disruptions in the Middle East," D.A. Davidson said in a note to clients.

• Gold gained 0.2% to $2,734.50 per troy ounce, while silver jumped 2.4% to $34.02 per ounce

What to expect today?   

• Asian market trading in mixed way where Japan in  -1.43% and Hong Kong +0.16%
  US Futures trading lower at -0.12%

• GIFT NIFTY trading  at +0.10%, up by 25 points

• All the factors indicating a flat to gap up opening in the market.

NIFTY Technicals

In NIFTY high amount of call OI at 25,000 and put OI at 24,000, PCR at 0.59. NIFTY FUT indicating LONG UNWINDING week. And in case of BANKNIFTY, PCR stays at 0.87 and FUT with LONG UNWINDING.

We focus mainly on NIFTY  FUT's today, as it performs in line with our expectations. A 1HR candle close above 25,031.90 in FUT can push NIFTY more higher. 

INDIA VIX rose to 13.7625

 All the best for the day.