0 Indian Stock Market - Daily News Letter


In line with prevailing consolidation, index traded in a narrow range of 5310-5330 levels for most part of the
session. In last hour of trading, it broke out from the same on upside and scaled towards 5350 zone resultant
gain of half a percent in the end. Despite improvement in market breadth, volume is still continuing the declining trend in cash segment confirming the consolidation phase. Keeping in mind today’s close, we might
see further extension of up move in the next session as well but closing above 5400 levels is required to trigger fresh momentum otherwise consolidation may extend in the near term.

Previous day Futures n Options analysis - 

  • Nifty future opened flat and traded in a narrow range until latter half of session when bullish momentum has overtaken the overall sentiment. 
  • Nifty Aug futures made a high of 5377.70, low of 5326.85 and finally closed at 5371.90.
  • Nifty spot closed at 5347.90 up by 27.50 points. 
  • Bank Nifty closed at 10401.30 up by 42.35 points.
  • CNX IT closed at 5912.35 up by 7.20 points.
  • Nifty Aug future closed with 24 point’s premium.
  • Nifty heavyweight stock TATASTEEL and TATAMOTORS witnessed short build-up.
  • Nifty heavyweight stock HDFC witnessed long build-up.
  • Volatility India index VIX closed at 16.01 down by 0.37%.
  • PCR (Volume) is at 1.15.
  • Nifty Aug 5200-5400 put strikes witnessed short build-up.

STOCKS WITH BULLISH BIAS
AXISBANK, BHEL, HAVELLS, LT & PTC
STOCKS WITH BEARISH BIAS
EDUCOMP, SUNTV & VIJAYABANK
ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 811 
DECLINE – 572 

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