Global cues:
•
The S&P 500 and the Dow slipped on Thursday after weekly jobless
claims rose unexpectedly back above the 1-million-mark last week
•
Federal Reserve's view of a difficult road to economic recovery also
dragged the indices
•
Crude Oil
Futures fell as the
jobless claims’ numbers intensified fears of a weakening in demand
•
European stocks were hit by a wave of selling after the U.S. signalled a
weak recovery
•
SGX Nifty is 100 points up, so market will likely open positively
Indian
markets:
•
Nifty snapped a 2-day winning streak and held 11,300 in a volatile
session
•
Reliance and financials dragged Nifty while energy and power stocks gave
mild support
•
FIIs were net sellers of worth Rs 268.46 Crore and DIIs were net seller of worth Rs. 672.23 Crore
•
Nifty Bank ended weekly expiry 1.4% lower, losses led by HDFC Bank &
ICICI Bank
•
Nifty Metal and Energy were top gainers with Nifty IT losing the most
•
SC on AGR dues said that almost the entire AGR dues will be wiped out in
the IBC process. August 21 to be the fifth-day of hearing on the same
•
RBL Bank's board approved raising Rs 1,566 crore through a preferential
share issue to a set of investors
• The nifty contribution chart
for Monday was as follows:
Trends:
• A small negative candle was formed with a gap
down opening and the opening downside gap remained unfilled. The first
half was in favour of bulls. Second half dipped after the U.S. slow recovery
claim.
• Nifty managed to hold its 11,280-11,300
support zone which remains an important level to watch for, however, any
violation of this support zone may cause further weakness towards 11,250-11,200
levels.
Option strategy for tomorrow:
• A gap up opening will result in a rangebound
market before forming a clear trend.
• A flat opening in Nifty may cause nifty to
make a negative movement, so one can sell CE or buy buy PE.
• A gap down opening may result in rangebound
scenario before making any trend.
• Nifty’s expected range for tomorrow
is 11200 to 11450
• Upside resistance is at 11400
& 11440 level.
• Downside support is at 11260
& 11200 level.
•
Maximum
call OI of 55.40 lakh contracts seen at 11,400 strike to act as crucial
resistance for tomorrow
• Maximum put OI of 56.27 lakh contracts seen
at 11,300 strike to act as crucial support for tomorrow
• The short-term trend of Nifty is slightly
negative. The overall uptrend status remains intact, as long as the area of
11,100 is protected. There is a possibility of minor weakness in the next 1 or
2 sessions with range bound action.
Stock Picks
•
Ashok
Leyland after rising more than 40% in less than 2W, this commercial vehicle
manufacturer looks extremely bullish. It has crossed it's 5,10 and 20 day
moving averages comprehensively.
•
Reliance
closed at price of 2097, just below the support of 2102. As per STOCHRSI(14)
stock is in oversold range and MACD indicator shows a buy for Reliance. Expect
the stock to test 2135 level.
•
Avenue
Supermarts closed at 2286 today, after closing with higher highs for the past 4
days. The standard MACD indicates bullish run along with a healthy RSI of 65.
Expect the stock to reach 2320.
•
Strides
Pharma closed at 567, stock has support at this price. Stock formed a Doji star
Bullish Reversal on one hour chart. Expect the stock to move toward the price
level of 584.
Results on August
21:
PNB,
Indiabulls Housing Finance, Coffee Day, Oil India, Rossari, Union Bank, Jindal
Drilling, SportKing India, AGC Networks
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
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