0 Daily Share Market Early Morning Update

Nifty: The Nifty is likely to open flat on the back of flattish global cues. It is likely to trade in the range of 5350-5430. The trading strategy would be to create short positions if the Nifty resists at around 5419 levels for targets of 5380 and 5360. On the other hand, one can also create long positions if it takes support at

around 5350 levels.

Bank Nifty: The Bank Nifty is likely to trade in the range of 10300-10550

STOCKS WITH BULLISH BIAS
CESC, ONGC, JSWSTEEL, PETRONET
STOCKS WITH BEARISH BIAS
JINDALSTEL, RELINFRA, TATAGLOBAL, TTKPRESTIG

Previous Day Futures and Options analysis - 

• Nifty future opened negative and traded in a range of 35 points throughout the day, to finally close down by 0.37%.
• Nifty Aug futures made a high of 5414, low of 5381.05 and finally closed at 5402.70.
• Nifty spot closed at 5386.70 down by 28.65 points. 
• Bank Nifty closed at 10332.85 down by 124.85 points.
• CNX IT closed at 6170.70 down by 36.90 points.
• Nifty Aug future closed with 16 point’s premium.
• Nifty heavyweight stocks TATASTEEL and ICICIBANK witnessed short build-up.
• Volatility India index VIX closed at 16.16 up by 0.25%.
• PCR (Volume) is at 1.22.
• Nifty Aug 5500 call strikes witnessed OI build-up.
• Nifty Aug 5400-5500 put strikes witnessed short covering.

ADVANCE/DECLINE NUMBERS (NSE) 

ADVANCE – 492
DECLINE – 972