Nifty 50 opened flat at 16,632.90 on Tuesday, July 26, 2022. This Indian stock market index then experienced a bearish trend. The Nifty 50 Index was down by 0.88% and closed at 16,483.85 (down by 147.15 points) today. The index recorded a low of 16,463.30 during the trading session. The lagging sectors in the market were IT (2.83%) and FMCG (1.39%).
Earlier, recurring ‘green’ sessions of the market came to a standstill on Monday as a pause candle had been recorded. It was expected that the market would suffer from a downward trend and that is exactly what happened. The Nifty 50 index broke its 200-day EMA for the downside, which indicates that the market might experience ‘red’ sessions in the future.
Open Interest Analysis
Highest Open Interest
- CE Side = (a) 1,37,018 at 16,600
(b) 1,53,759 at 16,700
- PE Side = (a) 1,13,869 at 16,500
(b) 1,02,231 at 16,400
Change In OI/ Open Interest
- CE Side = (a) At 16,600 was 69,326
(b) At 16,500 was 61,100
- PE Side = (a) At 16,400 was 12,438
(b) At 16,350 was 7538
Significant option unwinding was witnessed at 16,600 to be 31,367.
- PE Side= (a) 20,641 at 16,300
(b) 31,367 at 16,600
Exponential Moving Average (EMA)
The nearest resistance level is set at 16,656. It recently broke its 200-day EMA of 16,524, which led to a bearish performance. The nearest support level is set at 16,332, currently, if this level is broken then would lead to a further downward trend.
Top Gainers And Losers Today
The top Indian stocks that saw a ‘green’ performance even during today’s downward trend are mentioned below.
1. Bajaj Finserv Limited
Bajaj Finserv Limited (NSE: BAJAJFINSV) saw its stock gain by 5.33% and close at INR 13,292.05 (up by 672.50 points) today. The total trade volume of the stock stood at 13,27,024, worth INR 1,75,149.12 lakhs.
2. JSW Steel Limited
JSW Steel Limited (NSE: JSWSTEEL) saw its stock prices increase by 1.76% and close at INR 595.80 (up by 10.30 points) today. The total trade volume of the stock stood at 60,31,921, worth INR 35,680.02 lakhs.
3. Grasim Industries Limited
Grasim Industries Limited (NSE: GRASIM) saw its share value rise by 1.10% and close at INR 1,515.00 (up by 16.50 points) today. The total trade volume of the stock stood at 8,78,756, worth INR 13,221.32 lakhs.
The Indian stocks that dropped with the bearish market are listed below.
1. Infosys Limited
Infosys Limited (NSE: INFY) saw its stock value decrease by 3.51% and close at INR 1,450.85 (down by 52.75 points) today. The total trade volume of the stock stood at 72,68,273, worth INR 1,06,195.28 lakhs.
2. Hindustan Unilever Limited
Hindustan Unilever Limited (NSE: HINDUNILVR) saw its stock price decline by 3.08% and close at INR 2,542.80 (down by 80.80 points) today. The total trade volume of the stock stood at 16,85,576, worth INR 43,294.02 lakhs.
3. Axis Bank Limited
Axis Bank Limited (NSE: AXISBANK) saw its stock value decrease by 2.88% and close at INR 706.40 (down by 20.95 points) today. The total trade volume of the stock stood at 1,41,35,744, worth INR 1,00,604.09 lakhs.
The market pull-back is not expected to stop shortly. Therefore, further red sessions can be expected for the Nifty 50 index.