pre-opening trade

Nifty above 11,650 in pre-opening trade, Sensex higher by 

over 150 points

Rupee opens:The Indian rupee gained in the opening trade on Monday. 

opened higher by 15 paise at 69.76 per dollar versus 69.91 Friday.

On Friday, Rupee rose following weakness in the dollar against its major 

crosses and ahead Fed chairman statement at the Jackson Hole Symposium. In 

the recent past, rupee has been under pressure primarily on back of global 

factors than domestic factors, said Motilal Oswal.

Market at pre-open: It is likely to be a good start to the Monday morning 

as pre-opening rates point to a positive opening. 

At 09:01 hrs IST, the Sensex is up 122.34 points or 0.32% at 38374.14, 

while the Nifty is up 94.10 points or 0.81% at 11651.20. 

autonomy and privacy of citizens: Congress

Ram Vilas Paswan calls for broader consensus in setting up Indian judicial  stock market services

The district-level agitations will be held from September 7 to 15, while the state-level agitations will be organised from September 16 to 30.

The Congress has also set up a separate control room at the party headquarters here to monitor district-level agitations

Please ensure that a massive state-level agitation and a march to the Governor's House for submission of memorandum to the Governor," party general secretary Ashok Gehlot has said in a letter to the party's state unit chiefs.

According to party sources, the Congress will make the alleged Rafale scam a 'poll issue' and target the Modi dispensation over its claim of corruption-free governance.

The Congress has accused the Modi government of not disclosing the price of the aircraft and alleged that the price was three times higher than that negotiated during the UPA dispensation with France's Dassault Aviation, the manufacturer of the aircraft.

Trade Setup for Monday

Top things to know before Opening Bell

1. Maximum call open interest (OI) of 41.51 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for August series.
2. Finally bears managed to take control at Dalal Street as the Nifty50 snapped a five-day winning streak on August 10. The index after opening lower remained in the negative territory throughout the session, forming a bearish candle on the daily charts and Spinning Top pattern on the weekly scale.
3. The index continued to gain for a third consecutive week, rising 0.6 percent taking the total three-week gain to 3.8 percent.
4. The 30-share BSE Sensex lost 155.14 points to 37,869.23 and the Nifty Midcap index participated in the fall, shedding half a percent while the sectoral trend was mixed.

The Nifty50, after opening lower at 11,474.95, extended losses as the day progressed and hit an intraday low of 11,419.65, dragged by banking and financials, and metals. The index closed 41.20 points lower at 11,429.50.

Experts expect the market to consolidate for a while before moving up further and crossing 11,500 levels. But if the index breaks 11,400-mark then it can see some more selling pressure, said an expert.

He said on the downside, critical support on short term charts appears to be placed around 11,373 levels, a breach of which will not only confirm a short term top around 11,500 levels, but has the potentials to extend this downswing towards 11,230 kind of levels.

Key support and resistance level for Nifty

The Nifty closed at 11,429.50 on Friday. According to Pivot charts, the key support level is placed at 11,406.53, followed by 11,383.57. If the index starts moving upwards, key resistance levels to watch out are 11,465.63 and 11,501.77.

Bulk Deals

Goldstone Tech: Navy Stock Consultant Private Limited bought 1,60,000 shares of the company at Rs 20.35 per share on the NSE.

Laurus Labs: Nagarani Chava bought 5,70,000 shares of the company at Rs 444.99 per share on the NSE.