0 Daily News Letter - Share Market


Nifty (5390.00 +26.55)

On the back of negative cues from global front, index opened with down gap but started rebounding gradually as the day progressed. It scaled above yesterday’s high and gained close to half a percent in the end. In line with move, market breadth was also inclined on advancing side. Among the sectorial pack, Realty, IT, Power and Teck pivot were the top gainers while Metal counters remained under pressure and closed in red. Keeping in mind the current chart formation, we might see index retesting the previous high zone i.e. 5448.60 level in the near term. Importantly, one may take partial profit around that zone or revise stop loss for the buy side trades to avoid any notional loss.


Previous Day Futures and Options analysis - 

  • Nifty future opened negative and traded with a positive bias for whole trading session.
  • Nifty Sep futures made a high of 5409, low of 5335 and finally closed at 5405.35.
  • Nifty spot closed at 5390 up by 26.55 points. 
  • Bank Nifty closed at 10135.90 up by 66.05 points.
  • CNX IT closed at 6424.65 up by 62.75 points.
  • Nifty futures closed with 15.35 point’s premium.
  • Nifty heavyweight stocks HDFC and TCS witnessed long build-up.
  • Volatility India index VIX closed at 15.38 up by 0.72%.
  • PCR (Volume) is at 1.08.
  • Nifty Sep 5300-5400 put strikes have witnessed short build-up.


ADVANCE/DECLINE NUMBERS (NSE) 

  • ADVANCE – 812 
  • DECLINE – 658 




STOCKS WITH BULLISH BIAS

  • AMBUJACEM, CANBK, MARUTI & SIEMENS

STOCKS WITH BEARISH BIAS

  • APIL, BHARATFORG, DCB, MCDOWELL-N & ZEEL



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