Nifty Today Live: F&O Cues

The Nifty March futures were up 0.65% to 22,584.30 at a premium of 75.55 points, with the open interest down 2.04%.

The open interest distribution for the Nifty 50 March 20 expiry series indicated most activity at 23,500 call strikes, and the 22,000 put strikes had the maximum open interest.

Nifty Today Live: Immediate Support At 22,200–22,300

The NSE Nifty 50’s immediate support is at 22,200–22,300 after the stock markets ended in the green on Monday, while 22,600 will be the immediate resistance, according to analysts.

The index formed a bullish piercing-line candlestick pattern, indicating buying interest at lower levels near the 50% retracement of the previous upward move, according to Bajaj Broking Research.

A move above Monday’s high at 22,577 can trigger an upside towards 22,700 and 23,000 in the coming sessions. Immediate support is seen at 22,200–22,300 and sustaining above this level will maintain the current pullback trend, it added.

Rupee Vs Dollar: Check INR Trading Level

The rupee strengthened sharply against the US dollar on Monday as India’s back-to-back strong economic data continued to fuel investors.

The domestic unit ended 20 paise higher at 86.80 against the greenback, the highest close since Feb. 24. Intraday, the rupee rose 24 paise to 86.76, according to Bloomberg data.

The local currency gained further in offshore market and is likely to open around 86.70, according to India Forex And Asset Management (IFA Global).

“We expect it to trade a 86.55-86.80 range intraday with sideways price action. The one-year forward yield ended at 2.16% while three-month ATMF implied volatility ended at 3.57%,” IFA Global said.

Share Market Live: Major Stocks In News

  • Bajaj Finserv: Allianz SE has signed binding agreements to sell its 26% stake in Bajaj Allianz General Insurance Co. and Bajaj Allianz Life Insurance Co. to Bajaj Group for approximately €2.6 billion. The proceeds may be received in multiple tranches.

  • Religare Enterprises: The board initiated a governance review of REL and its subsidiaries, Religare Finvest and Religare Housing Development Finance. During the review, a cash flow gap was identified for the upcoming months. To address this, the board has reached out to the Burman Group for immediate financial support and assistance.

  • Vedanta: On Monday, Chairman Anil Agarwal stated that each of the company’s four demerged entities has the potential to become a $100 billion enterprise. In a letter to stakeholders, he highlighted that the restructuring would result in independent companies with robust capital structures, clear sector focus, and promising growth prospects.

Stock Market Live: Asian Stock Up

Asian stocks were trading higher early Tuesday, tracking gains on Wall Street buoyed by US retail sales data that eased recession concerns, and renewed optimism for China’s economy.

Japan’s Nikkei 225 was up 1.25%, while Australian benchmark S&P/ASX 200 gained 0.5%. South Korea’s Kospi was up 0.88%. Futures showed Hong Kong’s benchmark may also open higher.

In the US, the S&P 500 ended 0.44% higher while the Dow Jones Industrial Average added 0.85%. The Nasdaq gained 0.3%.

GIFT Nifty Live: Index Below 22,800

The GIFT Nifty is trading below 22,800. The futures contract based on the Nifty 50 is up 0.02% or five points 22,745 as of 7:30 a.m., indicating a higher open for the index.

India’s benchmark equity indices ended higher on Monday, following a jump in global markets. The NSE Nifty 50 ended 111.55 points or 0.5% higher at 22,508.75, while the BSE Sensex closed 341.04 points or 0.46% up at 74,169.95.

. Read more on Markets by NDTV Profit.The GIFT Nifty, a futures contract based on the Nifty 50 is up 0.02% or five points 22,745, indicating a higher open for the index.  Read MoreMarkets, Business, Notifications 

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