Global cues:
•
The S&P
500 gave back its earlier gains on Tuesday after
briefly breaking above an all-time high that was set before the coronavirus
pandemic sent the broader market index tumbling.
•
Home Depot said sales last quarter jumped 23% as
consumers stuck in their homes increased do-it-yourself projects. Earnings and
sales exceeded Wall Street expectations.
•
Tesla shares rose 2.4%. The stock is set to
split 5-for-1 later this month.
• A sharp rise in bond yields sent gold prices lower.
•
SGX Nifty is 19 points up, expect Nifty with a flat to positive opening
Indian markets:
•
Rally in financials leads Nifty back to
5-month high, reclaims 11,400 intra-day.
•
Private banks & Reliance contribute most
to Nifty's gain today.
•
FIIs were net buyers of worth Rs
1134.57 Crore and DIIs were net seller of worth Rs. 379.38 Crore.
•
Barring pharma index, all sectors ended in
the green, Nifty Realty jumped the most, over 4% followed by Nifty Media and
Nifty Financials.
•
The fall in volatility seems to favour the
bulls as India VIX fell by 4.13 % at 21.30 levels.
•
Birlasoft surges to record high after
announcing cloud partnership with Microsoft.
•
SC adjourned AGR hearing for 19 August. SC
asked Centre to clarify its stand on why Reliance Jio, which is earning
revenue by sharing RCom spectrum be not asked to pay the AGR related dues to
the govt.
•
Punjab Housing Finance's shares rallied 12%
ahead of the board meeting to discuss fund raise tomorrow.
•
The nifty contribution chart for Monday was
as follows:
Trends:
•
Nifty reclaimed 11,400 levels intraday and
formed a bullish candle on daily charts.
•
Such breakouts usually lead to a continuation
of the trend and the overall market breadth too is in favor of the bulls. The
follow-up move in the coming session will be important as if the momentum
continues, then it will lead the index towards 11465 followed by 11625.
•
Options data suggested that the trading range
for the Nifty has been shifted higher to 11,200 to 11,600 levels for the coming
few days, compared to 11,000-11,400 in the previous session.
Option strategy for tomorrow:
•
Wait for the trend tomorrow in Nifty before taking any
trade. Mostly view for tomorrow is Neutral to upside.
•
Nifty’s expected range for tomorrow can be 11300 and
11550.
•
Maximum call OI of 27.97 lakh contracts seen at 11,500 strike
to act as crucial resistance for tomorrow
•
Maximum put OI of 29.95 lakh contracts seen at 11,300
strike to act as
crucial support for tomorrow
•
The rising hope for a better rural economy given the
monsoon progress and expectations of likely higher government spending is
boosting the sentiment.
Stock
Picks of the Day
• Reliance closed at 2,118.55 on
Wednesday, it recently signed a deal NetMeds which is expected to create
positive investor sentiment, expect to 2,158 levels.
• Ashok Leyland has risen by 14% over
the last few days with strong vols, expect the stock to continue this uptrend
and test 71 levels
• Motherson Sumi has been on an
uptrend but the stock saw strong selling with strong vols on Tuesday, the stock
has been overbought under stochastics expect the stock to test 123 levels
• Coal India opened up with strong
vols and tested 138.70 levels, the stock has formed a doji and can move in
either ways with 133.5 being support and 139 being resistance
Results
on August 18
Muthoot
Finance, Triveni Glass, Cosmo Films, Anupam Finserv, Blue Chip Tex Fuel
Industries
Source:
moneycontrol
Disclaimer
Please note that all the recommendations/views/ levels we provide are
based on the theory of technical/fundamental analysis and personal
observations. This does not claim for sure/ certain profit or any fix returns.
we are not be liable for any losses you make on the given takes and levels. You
are advised to take your position with your sense, discretion and judgment.
only you would be responsible for outcomes of your trades
Analysts
at work:
Hruday Kaveti 9493929292 Vidhit Patni 9967084401
hrudaykaveti7@gmail.com
vidhit57@gmail.com
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