0 Nifty Analysis - Daily News Letter


Nifty (5342.10 +103.70)
After trading range bound in last two sessions, index witnessed strong gap up opening and maintained the positive bias till the end resultant gain of close to two percent. On the sectorial front, all the pivots participated in the run; Capital goods, Realty, Metal and Bankex attained the top slot followed by others. In line with move, market breadth was also inclined strongly on the advancing side with marginal rise in volume on cash front. As we have mentioned earlier that index has filled the opened gap around 5220 level in the last trading session and it may witness rebound on the back of oversold positions across the board. Furthermore, fresh upside breakout on the global front is also adding to the positivity. Keeping in mind today’s close, we might see index to trade sideways bias in the next trading session but stock specific move will be there so one should plan accordingly.

STOCKS WITH BULLISH BIAS
BHARTIARTL, CESC, DRREDDY, FINANTECH, PNB, RELINFRA & TITAN
STOCKS WITH BEARISH BIAS
ADANIPORTS, BALRAMCHIN, CENTRALBK & HINDPETRO

Previous Day Futures and Options analysis- 

  • Nifty future opened positive and maintained bullish momentum throughout the day.
  • Nifty Sep futures made a high of 5362.75, low of 5326 and finally closed at 5359.10.
  • Nifty spot closed at 5342.10 up by 103.70 points. 
  • Bank Nifty closed at 10122 up by 228.85 points.
  • CNX IT closed at 6342.70 up by 109.35 points.
  • Nifty futures closed with 17 point’s premium.
  • Nifty heavyweight stocks ICICIBANK and TATAMOTORS witnessed long build-up.
  • Volatility India index VIX closed at 15.26 down by 10.13%.
  • PCR (Volume) is at 1.09.
  • Nifty Sep 5200-5300 put strikes have witnessed short build-up.

ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 1037
DECLINE – 450


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