0 Daily View on share market


Nifty: The Nifty is likely to open negative on the back of negative global cues. It is likely to trade in the range of 5370-5450. The trading strategy would be to create short positions if the Nifty resists at around 5432 levels for targets of 5400 and 5380. On the other hand, one can also create long positions if it takes support at around 5370 levels.
Bank Nifty: The Bank Nifty is likely to trade in the range of 10350-10600

STOCKS WITH BULLISH BIAS
CAIRN, POLARIS, RANBAXY, APOLLOTYRE
STOCKS WITH BEARISH BIAS
WELCORP, RELINFRA, ROLTA, SAIL

Previous day Futures and options analysis - 

  • Nifty future opened positive and traded in a range of 60 points throughout the day, to finally close almost flat.
  • Nifty Aug futures made a high of 5462.95, low of 5403.15 and finally closed at 5427.15.
  • Nifty spot closed at 5415.35 up by 2.50 points. 
  • Bank Nifty closed at 10457.70 down by 14.50 points.
  • CNX IT closed at 6207.60 up by 108.50 points.
  • Nifty Aug future closed with 11.80 point’s premium.
  • Nifty heavyweight stocks INFY and TCS witnessed long build-up.
  • Nifty heavyweight stocks TATAMOTORS and LT witnessed short build-up.
  • Volatility India index VIX closed at 16.12 up by 0.75%.
  • PCR (Volume) is at 1.21.
  • Nifty Aug 5500 call strikes witnessed OI build-up.
  • Nifty Aug 5300 put strikes witnessed profit booking.

ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 664
DECLINE – 813

Refer our Nifty weekly view Click here

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