0 Daily News Letter

Nifty: The Nifty is likely to open gap up on the back of strong global cues. It is likely to trade in the range of 5320-5400. The trading strategy would be to create long positions if the Nifty takes support at around 5335 levels for targets of 5370 and 5390. On the other hand, one can also create short positions if it resists at around 5400 levels (Strong Resistance).


Bank Nifty: The Bank Nifty is likely to trade in the range of 10400-10600

Previous Day Futures n Options analysis - 

• Nifty future opened positive and traded in a range of 71 points throughout the day and finally closed up by 0.91%. 
• Nifty Aug futures made a high of 5366.80, low of 5295.05 and finally closed at 5347.70.
• Nifty spot closed at 5336.70 up by 54.15 points. 
• Bank Nifty closed at 10591.92 up by 130.80 points.
• CNX IT closed at 5799.80 up by 100.85 points.
• Nifty Aug future closed with 11 point’s premium.
• Nifty heavyweight stock INFOSYS and AXISBANK witnessed long build-up.
• Volatility India index VIX closed at 16.21 down 0.1%.
• PCR (Volume) is at 1.03.
• Nifty Aug 5300 put strike witnessed short build-up.
• Nifty Aug 5500 call strikes witnessed long build-up.

STOCKS WITH BULLISH BIAS

CUMMINSIND, INDHOTEL, M&M, TATAPOWER & TVSMOTORS

STOCKS WITH BEARISH BIAS

BHARTIARTL, NMDC & SESAGOA

ADVANCE/DECLINE NUMBERS (NSE) 

ADVANCE – 822 

DECLINE – 657