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Nifty: The Nifty is likely to open flat on the back of flattish global cues. It is likely to trade in the range of 5250-5330. The trading strategy would be to create short positions if the Nifty resists at around 5320 levels for targets of 5285 and 5265. On the other hand, one can also create long positions if it takes support at around 5250 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 9800-10050

STOCKS WITH BULLISH BIAS
BHUSANSTL, BIOCON, HEXAWARE & LUPIN
STOCKS WITH BEARISH BIAS
HCLTECH, HDFC & INFY

Previous day Futures and options analysis - 

  • Nifty future opened flat and traded with negative momentum throughout the day to finally close down by 0.96%.
  • Nifty Sep futures made a high of 5384.90, low of 5323.30 and finally closed at 5327.80.
  • Nifty spot closed at 5287.80 down by 46.80points. 
  • Bank Nifty closed at 10011.90 down by 47.50 points.
  • CNX IT closed at 6099.15 down by 60.75 points.
  • Nifty Sep future closed with 40 point’s premium.
  • Nifty heavyweight stocks BHARTIARTL and TATAMOTORS witnessed short build-up.
  • Volatility India index VIX closed at 16.74 up by 2.39%.
  • PCR (Volume) is at 0.87.
  • Nifty Aug 5300-5400 call strikes have witnessed short build-up.

ADVANCE/DECLINE NUMBERS (NSE)
ADVANCE – 457
DECLINE – 1009

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Thanks for giving your valuable inputs, TRENDGURUS

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