0 Daily News Letter - Share Market

Nifty (5363.45 +4.75)

After three sessions of subsequent rise, index opened on flat note and traded in a narrow range of 5350-5375 levels till the end. Despite lackluster move in index, stock specific bias remained on the positive side resultant positive market breadth but volume is still not escalating in the cash segment causing concern. On the other hand, sectorial indices traded mixed with majority ending on flat note. Technically, index has formed spinning top candlestick pattern on the daily chart that specifies indecision among the market participants at current levels so we might see index to trade with sideways bias in the next session too while stock specific move will keep the traders busy.

Previous Day Futures and Options analysis -

  • Nifty future opened almost flat and traded in a range of 30 points throughout the day.
  • Nifty Sep futures made a high of 5386.70, low of 5358.50 and finally closed at 5371.65.
  • Nifty spot closed at 5363.45 up by 4.75 points. 
  • Bank Nifty closed at 10069.85 down by 77.20 points.
  • CNX IT closed at 6361.90 up by 2.55 points.
  • Nifty futures closed with 8.20 point’s premium.
  • Nifty heavyweight stocks SBIN and AXISBANK witnessed short build-up.
  • Volatility India index VIX closed at 15.27 up by 3.46%.
  • PCR (Volume) is at 1.08.
  • Nifty Sep 5300 put strikes have witnessed OI build-up.
ADVANCE/DECLINE NUMBERS (NSE) 
  • ADVANCE – 803 
  • DECLINE – 679 
STOCKS WITH BULLISH BIAS
  • CAIRN, COALINDIA, NMDC, OFSS, PFC, RENUKA, ROLTA & SINTEX
STOCKS WITH BEARISH BIAS
  • ABIRLANUVO, FEDERALBNK, TATAPOWER, WIPRO & YESBANK
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