0 Share Market Daily News Letter

Nifty: The Nifty is likely to open negative on the back of negative global cues. It is likely to trade in the range of 5390-5460. The trading strategy would be to create short positions if the Nifty resists at around 5448 levels for targets of 5420 and 5400. On the other hand, one can also create long positions if it takes

support at around at around 5390 levels

Bank Nifty: The Bank Nifty is likely to trade in the range of 10400-10650

Previous day Futures n Options analysis - 

• Nifty future opened positive and gained momentum in latter half of session to close up by 1.11%.
• Nifty Aug futures made a high of 5447.05, low of 5373.05 and finally closed at 5441.90.
• Nifty spot closed at 5421 up by 54.70 points. 
• Bank Nifty closed at 10469.50 up by 51.60 points.
• CNX IT closed at 6085.30 up by 104.65 points.
• Nifty Aug future closed with 20.90 point’s premium.
• Nifty heavyweight stocks TATAMOTORS and INFY witnessed long build-up.
• Volatility India index VIX closed at 16.30 up by 3.62%.
• PCR (Volume) is at 1.17.
• Nifty Aug 5300-5400 put strikes witnessed short build-up.

STOCKS WITH BULLISH BIAS
BFUTILITIE, BHEL, CESC, EDUCOMP, GSPL &IDBI
STOCKS WITH BEARISH BIAS
BHARTIARTL, COLPAL, CUMMINSIND, IGL & PFC
ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 816
DECLINE – 673

Refer our Nifty weekly view Click here

Disclosure/Disclaimer