0 Futures and Options - Daily News Letter


Nifty: The Nifty is likely to open flat to positive on the back of mixed global cues. It is likely to trade in the range of 5360-5440. The trading strategy would be to create long positions if the Nifty takes support at around 5375 levels for targets of 5410 and 5430. On the other hand, one can also create short positions if it resists at around at around 5440 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 10480-10680

Previous day Futures n Options analysis- 

  • Nifty future opened flat and traded in a narrow range until inflation figures announcement, which sparked bullish momentum in market.
  • Nifty Aug futures made a high of 5416.90, low of 5355.55 and finally closed at 5406.85.
  • Nifty spot closed at 5380.35 up by 32.45 points. 
  • Bank Nifty closed at 10519.15 up by 117.85 points.
  • CNX IT closed at 5936.35 up by 24 points.
  • Nifty Aug future closed with 26.5 point’s premium.
  • Nifty heavyweight stock HDFC witnessed short build-up.
  • Nifty heavyweight stock RELIANCE, TATAMOTORS and ICICIBANK witnessed long build-up.
  • Volatility India index VIX closed at 15.64 down by 2.31%.
  • PCR (Volume) is at 1.14.
  • Nifty Aug 5300-5400 put strikes witnessed short build-up.
  • Nifty Aug 5500 call strikes witnessed long build-up.

STOCKS WITH BULLISH BIAS
BHEL, COALINDIA, COLPAL, DRREDDY & GAIL
STOCKS WITH BEARISH BIAS
BAJAJHIND, BATAINDIA & GESHIP
ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 762
DECLINE – 710

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