Monday was the second day in a row that Sensex and Nifty fell more than 1%. Metals and banks led the way down, and the weakness of markets around the world didn't help.

The BSE Sensex lost 872 points and ended the day at 58,773.8. The Nifty also went down 1.5%, to 17,490.7.

After US markets suffered their worst decline in two months on Tuesday due to concerns about the Federal Reserve's monetary tightening, stocks in Asia fell back while bond yields and the dollar rose

Worries over inflation and the direction of the economy caused stocks to decline significantly on Wall Street, adding to the market's losses. On Monday, the S&P 500 fell 2%, the most since mid-June

SGX Nifty SGX Nifty predicts a lower Tuesday start for Indian stocks. Singapore Nifty is the Indian Nifty traded in Singapore and is the first indicator of Indian market opening.

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Nifty technical outlook "The positive pattern of higher tops and bottoms is still in place, and the current weakness could lead to a new higher bottom in the pattern."

However, an important downside reversal from the major barrier and the emergence of negative patterns as per the daily chart

Nagaraj Shetti, a Technical Research Analyst at HDFC Securities, said, "Weekly charts show that the market might go down a little more before it goes back up from its lows."

Nifty Call Option data According to the data, the Call strikes 17600, 17700, and 17800 had the most total open interest, with 155264, 136403, and 141653 contracts, respectively.

Call open interest grew most at 17600 and 17700 strikes, where 136,430 and 10,351 contracts were added, respectively. At 17900 strike, call unwinding was seen, which led to the loss of 50059 contracts.

Nifty Put Option data There was a lot of total open interest in Puts at the 17300, 17400, and 17500 strikes, where there were 84508, 77158, and 114152 contracts, respectively.

There were a lot of new Put open interest at 17400 and 17500 strikes, where 18843 and 14420 contracts were added.

Profitmart Securities said that put unwinding happened at 17700 and 17800 strikes, which caused 23302 and 36609 contracts to be cancelled, respectively.

FII DII data According to preliminary data from the NSE, foreign institutional investors (FIIs) net sold shares worth 423 crore on August 22, while domestic institutional investors (DIIs) net sold shares worth 85 crore.