The SGX Nifty Future is trading at 11,078.00 up with +0.98% percent or +107.00 point. The Nikkei 225 Future is trading at 21,392.50 with a loss of -0.78% percent or -167.50 point.The Hang Seng Future is trading at 27,108.00 up with +1.80% percent or +480.00 point.
TODAY’S FACTORS AND EVENTS
Heavy put selling or writing at the 10,900 strike expiring September 12 suggests that markets might test 11,000, a strong resistance this week. Only if the Nifty sustains above 10,900, from where it fell on August 29, will the stage be set for testing the 11,000 mark, said analysts.
Traders write or sell put options when the feel the underlying index or share won’t fall below the strike sold minus the premium received (from the option buyer). So, basis the premium Friday, 10,850 is where the writer would have placed a stop loss. If that’s breached the index could test 10,770-10,780
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 26,909.43 up with +0.28% percent or +73.92 point. The S&P 500 is trading at 2,979.39 up with +0.032% percent or +0.96 point. The Nasdaq Composite is trading at 8,084.16 with a loss of –0.041% percent or –3.28 point.
In other parts of world, Japan’s Nikkei 225 is trading at 21,597.76 up with +0.96% percent or +205.66 point. Hong Kong’s Hang Seng is trading at 27,081.93 up with 1.49% percent or +398.25 point. China’s Shanghai Composite is trading at 3,008.81 with a loss of –0.41% percent or –12.39 point. India’s BSE Sensex is trading at 37,267.88 up with +0.33% percent or +122.43 point at 12:15 PM.