2 weeks ago
Nifty futures hint negative start; Brent surges to $91
Imagine a big scoreboard that shows how the stock market is doing.
In India, one important scoreboard is called the Nifty 50.
Before the market opened, a special signal called Nifty futures suggested the day might start with prices going down.
At the same time, the price of oil called Brent crude went up to $91 for one barrel.
When oil gets expensive, it can make many companies worried.
The Nifty 50 had already gone down for five days in a row.
People who study charts say the market has a safety line at 24,200 points.
If the market stays above that line, it might be okay.
Traders are also watching some companies like Paytm and Netweb Technologies.
Everyone is waiting to see what happens next.
Nifty futures hinted at a negative start for the market.
Brent crude surged to $91, crossing the $90-a-barrel mark.
The Nifty 50 entered the weekly options expiry session after five straight days of losses.
The index closed below 24,300, with 24,200 cited as key support and the 24,250 Put option seeing significant open interest addition.
Nifty Bank gave up its intraday recovery during the Closing Auction Session but found buying interest around the 57,000 level.
- Who
- Traders and investors tracking the Nifty 50 and Nifty Bank indices, with chartists citing key support levels.
- What
- Nifty futures hinted at a negative start while Brent crude surged to $91, as the Nifty 50 entered weekly options expiry after five straight days of losses.
- Where
- Indian stock market, focused on the Nifty 50 and Nifty Bank indices.
- When
- During the weekly options expiry session, following five consecutive days of losses; the 24,250 Put option saw open interest added on Monday.
- Why
- Rising crude oil prices and sustained selling pressure weighed on market sentiment.
Key facts
- Market indicator
- Nifty futures hinted at a negative start
- Brent crude
- Surged to $91, crossing $90 a barrel
- Nifty 50 streak
- Five straight days of losses
- Key support level
- 24,200, after closing below 24,300
- Put option watch
- 24,250 strike saw significant open interest addition
- Nifty Bank support
- Buying interest around 57,000
- Stocks to watch
- Paytm, SPR Auto, Netweb Technologies
- Session
- Weekly options expiry
