0 Daily News Letter - Share market



Nifty (5431.00 +41.00)

In line with prevailing trend, index marched further northward after trading range bound between 5390-5420 levels for most part of the trading session. It gained more than half a percent and effortlessly closed above 5400 mark. Market breadth was also well aligning with move in broader index as it remained inclined towards advancing side with noticeable rise in volume on cash front which indeed is a positive sign. On sectorial fronts, Metal, Auto, Capital good and IT pivot were the top gainers followed by other pivots. As per Fibonacci extension placed on intraday chart, the next resistance level is around 5480 level i.e. 61.80 level (see the above chart) so one should trade accordingly.

Previous Day Futures and Options analysis -

  • Nifty future opened positive and traded in a range of 50 points for whole trading session.
  • Nifty Sep futures made a high of 5452.90, low of 5402.45 and finally closed at 5446.95.
  • Nifty spot closed at 5431 up by 41 points. 
  • Bank Nifty closed at 10183.45 up by 47.55 points.
  • CNX IT closed at 6485.95 up by 61.30 points.
  • Nifty futures closed with 15.95 point’s premium.
  • Nifty heavyweight stocks TATASTEEL and LT witnessed long build-up.
  • Volatility India index VIX closed at 15.04 down by 2.21%.
  • PCR (Volume) is at 1.03.
  • Nifty Sep 5300-5400 put strikes have witnessed short build-up.



STOCKS WITH BULLISH BIAS

  • CAIRN, DISHTV, GMDC, JPASSOCIAT, KOTAKBANK, LICHSGFIN, RELIANCE & YESBANK

STOCKS WITH BEARISH BIAS

  • ADANIPORTS, AUROPHARMA, BFUTILITIE, BOMDYEING & HEROMOTOCO

ADVANCE/DECLINE NUMBERS (NSE) 

  • ADVANCE – 864 
  • DECLINE – 617





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