0 Daily News Letter - Share Market


Nifty (5435.35 +4.35)

After opening on flat note, index tried to maintain the positive bias as it scaled past the previous high zone around 5450 level in first half of the trade. Due to lack of sustainability around that zone, it traded range bound thereafter and closed almost unchanged in the end. Despite lacklustre move in broader index, profit taking in cash segment pushed the market breadth in negative territory. In line with close, majority of sectorial pivots failed to show any significant move and ended flat as well. As we have mentioned in our earlier newsletter, index may retest the previous high zone and then it may witness some profit taking. Accordingly, we might see profit taking to continue but the bias will remain on the positive side so avoid going short at current levels.

Previous Day Futures and Options analysis-

  • Nifty future opened flat and traded in a range of 20 points throughout the day. 
  • Nifty Sep futures made a high of 5454.95, low of 5435.35 and finally closed at 5450.70. 
  • Nifty spot closed at 5435.35 up by 4.35 points. 
  • Bank Nifty closed at 10207.80 up by 24.35 points. 
  • CNX IT closed at 6514.35 up by 28.40 points. 
  • Nifty futures closed with 15.35 point’s premium. 
  • Nifty heavyweight stocks BHARTIARTL witnessed short build-up. 
  • Volatility India index VIX closed at 15.67 up by 4.91%. 
  • PCR (Volume) is at 1.08. Nifty Sep 5400 put strike has witnessed OI build-up. 
  • Nifty Sep 5500-5600 call strikes have witnessed OI build-up. 

STOCKS WITH BULLISH BIAS
BPCL, EXIDEIND, FEDERALBNK, MCDOWELL-N & NMDC
STOCKS WITH BEARISH BIAS
ABIRLANUVO, GESHIP, INDIACEM, RELCAPITAL, SIEMENS & SYNDIBANK
ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 597
DECLINE – 896



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