📌 Market Outlook
The market is likely to open slightly positive today. Gift Nifty is trading with a small premium over yesterday’s Nifty close, hinting at a steady to firm start. Sentiment remains cautious, as FII outflows continue, but domestic flows and optimism around upcoming policy discussions are providing some support.
📊 Nifty 50 – Key Levels
- Support zones: 24,520–24,500 (immediate), deeper support at 24,430 and 24,350
- Resistance zones: 24,720–24,780 (nearby supply), strong resistance at 24,900–25,000
- View: As long as 24,500 holds, dips may attract buying; rallies will face pressure near 24,800.
📈 Gift Nifty Snapshot
- Trading around 24,740–24,760 before market open.
- Suggests a modest green start for the day.
🏦 Institutional Flow (1 Sept)
- FIIs: Net sellers of about ₹1,430 crore
- DIIs: Net buyers of around ₹4,345 crore
Domestic institutions continued to offset foreign selling, helping the index stabilize.
📉 FII Index Futures Positioning
- FIIs are still net short in index futures, with shorts outweighing longs.
- This keeps overall sentiment cautious, and rallies near resistance could see supply.
🧾 September Series Options Setup
- Highest Call OI: 25,000 – strong resistance zone
- Highest Put OI: 24,400–24,500 – strong support base
- Implication: Market is boxed in a 24,400–25,000 range, with intraday swings expected around the 24,700 mark.
📰 Market Drivers
- Policy optimism: Buzz around GST Council discussions and corporate announcements is providing some confidence.
- Export worries: Ongoing tariff-related concerns continue to act as a drag on certain sectors.
- Sector focus: Autos and banks remain in spotlight after recent relative strength.
🌎 U.S. Data Tonight (IST)
- S&P Global Manufacturing PMI (final, Aug) – 9:45 p.m.
- ISM Manufacturing PMI (Aug) – 10:00 p.m.
- Construction Spending (Jul) – 10:00 p.m.
These numbers will influence global risk sentiment and could affect flows into emerging markets tomorrow.
⚡ Trading Playbook
- Likely range today: 24,520 – 24,780
- Bullish trigger: Sustained move above 24,750 → target 24,900–25,000
- Bearish trigger: Break below 24,500 → risk toward 24,430 / 24,350
- Strategy: Range trade – buy dips near support, sell into strength at resistance. Watch early FII futures flow and OI shifts at 24,700–24,800 Calls and 24,500 Puts