ETMarkets Evening Podcast: How will the market behave next week?

Hi There! You are listening to ETMarkets Evening Podcast

This is Abhinav Kaul and I will take you through the motions of today’s session on Dalal Street and bring you cues and trading tips from market veterans for the upcoming trading sessions.

It was an earnings-heavy day where a host of Nifty50 frontline companies such as SBI, M&M and Bosch reported their quarterly earnings.

On the day, the BSE Sensex gained 64 points to 33,338, while the Nifty0 settled at 10,321, up by 13.

Mahindra Logistics had a poor debut as the scrip closed the day at Rs 429.15, down 0.66 per cent over its issue price of Rs 432.
AK Prabhakar of IDBI Capital Markets sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.

Byte 1: AK Prabhakar

On the technical front, the index made a Hammer-like pattern on the daily chart and is now expected to see immediate resistance at around 10,378 level, while it is seen getting support near 10,270-40 range.

Broadly a close above 10,400 or a fall below 10,200 would be trend-decider next week, analysts said.

Among F&O cues, that maximum Put open interest is shifting to 10,200 followed by 10,000 strikes while maximum Call open interest is at 10500 followed by 10400 strikes.

We have seen significant Put writing at 10300 and 10100 while Call writing is seen at 10300, 10450 and 10500 strike.
We have with us Nirav Chheda of Nirmal Bang Securities to give us some insights on Nifty behaviour on the charts as well as F&O segment.
Byte 2: Nirav

That’s all for now folks. Do check out ETMarkets.com for detailed market analysis and for trading ideas and come back for special weekly podcast on Saturday and morning podcast on Monday. Have a wonderful evening ahead.