Good Morning All,
Asia-Pac Stocks Begin Lower After The Choppy Performance Stateside And With Headwinds From The Rising Yield Environment: ASX 200 (-0.2%), Nikkei 225 (-0.4%), KOSPI (-0.2%)
GIFT Nifty
The GIFT Nifty indicates a marginally negative start for the broader index with a loss of 47 points. GIFT Nifty futures stood at 19,676 points after making a high of 19,697 points.
Key support and resistance levels on -
Nifty
The pivot point calculator indicates that the Nifty may be taking support at 19,619, followed by 19,588 and 19,538. On the higher side, 19,721 can be an immediate resistance, followed by 19,752 and 19,803.
Nifty Bank
On September 25, the Bank Nifty also snapped its four-day weakness and jumped 154 points to 44,766, forming a bullish candlestick pattern with long upper and lower shadows, which resembles a High Wave sort of candlestick pattern (not exactly one) on the daily charts.
The Bank Nifty index experienced a brief respite following a four-day sell-off, with buyers gaining traction from lower levels. However, the index continues to trade below its 20-day moving average (20DMA), which is currently positioned at 45,000. A close above this level would signal a potential resumption of the upward momentum.
On the downside, the lower-end support now rests within the 44,500 to 44,000 zone. A breach below this support range could result in additional selling pressure on the index.
FII and DII data
Foreign institutional investors (FII) sold shares worth Rs 2,333.03 crore, while domestic institutional investors (DII) bought Rs 1,579.28 crore worth of stocks on September 25, provisional data from the National Stock Exchange (NSE) showed.
Stocks under F&O ban on NSE
The NSE has added Balrampur Chini Mills to its F&O ban list for September 26, while retaining Canara Bank, Granules India, Hindustan Copper, and Indiabulls Housing Finance to the list. Delta Corp, and Manappuram Finance were removed from the said list.