Global cues:
·
The S&P 500
and Nasdaq scaled record highs on Wednesday as results from retailers Target
and Lowe's trounced estimates, a day after the S&P 500 completed its
fastest recovery ever from a bear market
·
European stocks
wobbled in thin trading on Wednesday, failing to draw strength from a record
run for Wall Street's S&P 500, as investors feared a resurgence in
coronavirus cases could dent an economic recovery in the continent.
·
Apple Inc became
the first publicly listed U.S. company with a $2 trillion stock market value on
Wednesday, as Wall Street investors put aside challenges to its iPhone
ecosystem in favour of bets it will only prosper more in the post-coronavirus
world.
·
Sgx nifty is 135 points
down, so it may be a heavy negative opening for Nifty
Indian markets:
·
Nifty ended above
the 11,400 level on Wednesday but formed a bearish candle on the daily chart.
·
FIIs were net buyers of worth Rs 459.01
Cr and DIIs were net sellers of worth Rs. 97.13 Cr.
·
India VIX fell
2.31 per cent to 19.95 level. Volatility is cooling down gradually and the overall
lower volatility suggests the bullish stance could continue with a ‘buy on
decline’ strategy in the market
·
According to
pivot charts, the key support level for the Nifty is placed at 11,381.57,
followed by 11,354.73. If the index moves up, the key resistance levels to
watch out for are 11,447.77 and 11,487.13.
·
The Bank Nifty
closed at 22,285.90, up 115.30 points. The important pivot level, which will
act as crucial support for the index, is placed at 22,206.96, followed by
22,128.03. On the upside, key resistance levels are placed at 22,392.07 and
22,498.23.
·
Maximum Call open
interest of 23.92 lakh contracts was seen at 11,500 strike, which will act as
crucial resistance in the August series followed by 12,000, which holds 17.52
lakh contracts, and 11,800 strikes, which has accumulated 15.71 lakh contracts.
·
Investors should
remain stock specific and keep accumulating only quality stocks in this
scenario. Avoid buying on minor repairs, buying on dips should be on large
support.
·
Ruchi Soya
Industries: Q1 profit at Rs 12.3 crore versus Rs 14.01 crore, revenue at Rs
3,043 crore versus Rs 3,112.3 crore YoY.
·
PNB Housing
Finance: Board approved raising up to Rs 1,800 crore equity capital.
· L&T Finance Holdings: Board approved raising up to Rs 200 crore via non-convertible debentures.
Option strategy for tomorrow:
•
Nifty is at very
interesting position right now, It may take support at 11360 and may face
resistance at 11450.
•
One can short
11500 CE and 11350 PE with Stopp loss of 20 points on either side.
•
Nifty’s Expected
range tomorrow will be 11300 to 11500.
•
Nifty may see
resistance at 11440 & 11500.
•
Nifty may see
support at 11360 & 11320.
Buzzing stocks of day:
•
HDFC Bank saw
selling in the last one hour of trade. As per StochRSI indicator the stock has
been overbought, expect the stock to test the level of 1046.
•
Nestle closed at
16370, stock has broken the support of 16376. As per Williams %R indicator the
stock is overbought. Expect the stock to test the level of 16300.
•
Manappuram is
trading just above it's major support of 154, expecting to trade above this
value in the near future.
•
SBI is trading
near it's long term resistance of 200.Expect it to not breach this value unless
there's buying from the FII/DIIs.
Results on July 27
HealthCare Global Enterprises, MOIL,
Indian Overseas Bank, J Kumar Infraprojects, Accelya Solutions India, Foods
& Inns, IRB InvIT Fund, Madhucon Projects, McDowell Holdings, Metalyst
Forgings, Sheela Foam, Swelect Energy Systems, Valecha Engineering.
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:
No comments:
Post a Comment