0 Share Market Daily News Letter

Nifty: The Nifty is likely to open positive on the back of positive global cues. It is likely to trade in the range of 5240-5330. The trading strategy would be to create long positions if the Nifty takes support at around 5254 levels for targets of 5293 and 5320. On the other hand, one can also create short positions if it resists at around 5330 levels
Bank Nifty: The Bank Nifty is likely to trade in the range of 9950-10100

STOCKS WITH BULLISH BIAS
BPCL, CUMMINSIND, JSWENERGY, KOTAKBANK & M&M
STOCKS WITH BEARISH BIAS
CHAMBLFERT, HDFCBANK, IRB & MCDOWELL-N


Previous day Futures and Options analysis - 

• Nifty future opened flat and traded in a range of 50 points throughout the day.
• Nifty Sep futures made a high of 5285.90, low of 5237 and finally closed at 5261.10.
• Nifty spot closed at 5238.40 up by 12.70 points. 
• Bank Nifty closed at 9893.15 up by 65.25 points.
• CNX IT closed at 6233.35 up by 149.60 points.
• Nifty futures closed with 22.70 point’s premium.
• Nifty heavyweight stocks INFY witnessed long build-up.
• Volatility India index VIX closed at 16.98 down by 0.18%.
• PCR (Volume) is at 0.88.
• Nifty Sep 5300-5400 call strikes have witnessed long build-up.

ADVANCE/DECLINE NUMBERS (NSE) 
ADVANCE – 762
DECLINE – 701