0 Daily News Letter - Share market

Nifty (5673.90 +4.30)

For second consecutive session, index traded with sideway bias and closed flat in the end. In line with move in broader index, majority of sectorial indices failed to see substantial move but the market breadth improved in the later half due to some buying interest on cash front. On the intraday chart, it’s forming flag pattern that it may complete in next couple of sessions. Besides, the expiration of F&O contract on coming Thursday may provide the required trigger. Technically, the bias is still clearly on the positive side and any decline or breakout from the consolidation should be utilized as buying opportunity. Importantly, the key is right stock selection now as most of the counters has already witnessed extraordinary rise in the rally so one should keep trailing stop losses in the wining trades to lock profits.

At the National Stock Exchange the advances were 777 and declines were 706 whereas at the Bombay Stock Exchange advances were 1552 and declines were 1325. On Tuesday, Bank Nifty lost 0.02% to close at 11420.75; CNX-IT gained 0.06% to close at 6367.95.

FIIs were net sellers in the stock futures segment to the tune of | 610 crore. They were, however, net buyers in the cash segment and index futures segment to the tune of | 5846 crore and | 645 crore, respectively
India Volatility index came down from 18.83 to 17.11 (down 9.13%)
Options : on the Call side, 5800 Call added 1.3 million shares whereas on the Put side 5500 Put saw closure of 1.35 million shares

Nifty: The Nifty is likely to open negative on the back of negative global cues. It is likely to trade in the range of 5620-5700. The trading strategy would be to create short positions if the Nifty resists at around 5692 levels for targets of 5657 and 5635. On the other hand, one can also create long positions if it takes support at around 5620 levels

Bank Nifty: The Bank Nifty is likely to trade in the range of 11300-11550

Disclosure/Disclaimer and FAQ

*If you have any questions, queries or need more explanation, leave comments below also please don't forget to LIKE my page. Our commitment to you: we want to make money with you, not from you. We execute all trades that we share with members at our personal account. If you lose we lose too. If you profit, we profit too. Contact us at [email protected] if you have any questions.
people like this. be the first of your friends.



Post a Comment

Thanks for giving your valuable inputs, TRENDGURUS


We provide expert in our field. Over 8+ years of experience we will ensure that you are always getting good guidance from the top people in the industry.

Thought of the day

"The man who has minted money with both hands in the Indian stock market says wealth is important but is not the source of all happiness.", Rakesh Jhunjhuwala

Latest Updates

By Using this website\Blog, you agree to the Disclaimer provided at Disclaimer -|- Designed by Tritan Solutions Pvt. Ltd -|- Copyright © 2019 -|- All rights reserved