Nifty 50 Index opened at a significant gap down of 56.9 points at 16,662.55 on Monday, July 25, 2022, after a bullish rally seen in 5 consecutive trading sessions last week. The market was lagged by the Auto (-1.67%) and Pharma (-1.02%) sectors. This Indian Stock Market Index was down by 0.53% and closed at 16,631.00 (down by 88.45 points) today. Nifty 50 reached a low of 16,564.25 during the trading session. The gains of the market came to a standstill as a pause candle has been recorded. This means that if the market starts trading below the 16,500 mark it is expected to reach a new low. Here is a market roundup analysis for better understanding.
Open Interest Analysis
Highest Open Interest
- CE Side = (a) 1,30,304 at 16,700
(b) 10,06,978 at 16,800
- PE Side = (a) 1,23,857 at 16,500
(b) 1,02,293 at 16,300
Change In OI/ Open Interest
- CE Side = (a) At 16,700 was 47,034
(b) At 16,900 was 54,638
- PE Side = (a) At 16,300 was 30,138
(b) At 16,400 was 20,843
Significant option unwinding at 16,500 PE was 21,815.
- CE Side= 14,860 at 16,500
- PE Side= 21,815 at 16,500
Exponential Moving Average (EMA)
The nearest resistance level is set at 16,656. It is currently sustaining above its 200-day EMA of 16,524, which acts as the nearest support, if this level is broken then would lead to a downward trend.
Top Gainers And Losers Today
The top Indian stocks that saw a ‘green’ session during today’s red trend are mentioned below.
1. Tata Steel Limited
2. Indusind Bank Limited
Indusind Bank Limited (NSE: INDUSINDBK) saw its stock prices rise by 1.94% and close at INR 960.70 (up by 18.25 points) today. The total trade volume of the stock stood at 60,43,071, worth INR 57,646.67 lakhs.
3. Coal India Limited
Coal India Limited (NSE: COALINDIA) saw its share prices increase by 1.73% and close at INR 200.50 (up by 3.40 points) today. The total trade volume of the stock stood at 1,02,07,032, worth INR 20,301.79 lakhs.
The Indian stocks that dropped with the bearish market are listed below.
1. Mahindra & Mahindra Limited
Mahindra & Mahindra Limited (NSE: M&M) saw its stock value decrease by 3.99% and close at INR 1,134.00 (down by 47.10 points) today. The total trade volume of the stock stood at 43,80,502, worth INR 50,281.15 lakhs.
2. Reliance Industries Limited
Reliance Industries Limited (NSE: RELIANCE) saw its stock prices decline by 3.42% and close at INR 2,417.40 (down by 85.70 points) today. The total trade volume of the stock stood at 1,06,65,470, worth INR 2,58,388.08 lakhs.
3. Maruti Suzuki India Limited
Maruti Suzuki India Limited (NSE: MARUTI) saw its share prices drop by 2.50% and close at INR 8,610.00 (down by 220.95 points) today. The total trade volume of the stock stood at 6,23,462, worth INR 53,926.66 lakhs.
The consecutive green sessions of the Nifty 50 had earlier hinted at a market pullback since all gains and no losses are not the nature of any financial market. However, if the index regains its bullish rally after this downward trend then the tables might turn.