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Nifty: The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 5320-5400. The trading strategy would be to create short positions if the Nifty resists at around 5385 levels for targets of 5350 and 5330. On the other hand, one can also create long positions if it takes support at around 5320 levels.

Bank Nifty: The Bank Nifty is likely to trade in the range of 10400-10700


Pivot levels (Aug) S3    S2     S1    Piv     R1    R2     R3
Nifty future          5269 5317 5336 5365 5384 5413 5461

Previous Day Futures n Options analysis - 
  • Nifty future opened positive and traded in a range of 50 points throughout the day. 
  • Nifty Aug futures made a high of 5393.55, low of 5345.50 and finally closed at 5354.75.
  • Nifty spot closed at 5338 up by 1.30 points. 
  • Bank Nifty closed at 10529.25 down by 62.70 points.
  • CNX IT closed at 5828.30 up by 28.50 points.
  • Nifty Aug future closed with 16.75 point’s premium.
  • Nifty heavyweight stock BHARTIARTL and ICICIBANK witnessed short build-up.
  • Nifty heavyweight stock M&M and INFY witnessed long build-up.
  • Volatility India index VIX closed at 16.37 up by 0.99%.
  • PCR (Volume) is at 0.98.
  • Nifty Aug 5200-5400 put strikes witnessed OI build-up.
STOCKS WITH BULLISH BIAS
FEDERALBANK, HEXAWARE, POLARIS & RANBAXY
STOCKS WITH BEARISH BIAS
BGRENERGY, DENABANK, HAVELLS & SIEMENS
ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 602
DECLINE – 893

1 comments:

Thanks for giving your valuable inputs, TRENDGURUS

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