Global cues:
·
On Tuesday, the Dow Jones fell
0.52%, the S&P 500 rose
0.07%, while the Nasdaq Composite added
0.34% to close at a record highs
·
Wall Street fell as data showing an
unexpected wobble in consumer confidence increased investor anxiety over the
pace of the economic recovery
·
Expiration of the $600 enhanced
unemployment insurance benefits was a probable cause of the decreased
confidence
·
Top U.S. and Chinese trade
officials reaffirmed their commitment to a trade deal that had appeared on
shaky ground because of worsening bilateral ties
Indian markets:
·
On August 26, the BSE Sensex closed
45 points higher at 38843.88, while the Nifty50 ended with gain of 6 points at
11472.25
·
FIIs were net buyers of worth Rs 1481.2 Crore and DIIs were net seller of worth Rs. 172.97 Crore for August 25, 2020
·
On the sector front, gains in banks
and financial services stocks were negated by correction in metal and
pharmaceutical shares
·
PNB which suffered heavily due to
the Rs. 14,000 crore Nirav Modi Scam, successfully received Rs. 22.33 crores as
the first tranche of recoveries in the Nirav Modi Case
·
Tata Motors Chairman N Chandrasekaran
on August 25 said the company aims to reduce its total debt to near zero levels
in three years and generate free cash flows from FY22 onwards
·
US’s new home sales data and
US-China relationship will remain key factors for the market’s economic
development
·
The nifty contribution chart for
today was as follows:
Trends:
● After dipping once again to a
new low, Nifty recovered to end the day flat with a negligible gain of 5.80
points, or 0.05%.
● Nifty continued forming higher
highs- higher lows for the third consecutive session and supports gradually
shifted higher with the scope for further upside.
Option strategy for
tomorrow:
·
Nifty is a buy above 11450, can buy
call option for a target of 11500. SL should be 11430.
·
If Nifty can sustain above 11500
can buy call option for a target of 11550.
·
Nifty is sell below 11440, can buy
put option for a target of 11400. SL should be 11460.
·
Nifty’s expected range tomorrow can
be 11350 and 11550.
·
Upside resistance is at 11500 and
11550 levels.
·
Downside support is at 11440 &
11390 levels.
·
Maximum call OI of 41.08 lakh
contracts was seen at 11,500 strike which will act as crucial resistance for
August Series.
·
Maximum put OI of 43.71 lakh
contracts was seen at 11,000 strike which will act as crucial support for
August Series.
Stock Picks of the day:
• RIL - Stock
opened at 2,106 on Tuesday and closed 2,082 levels forming a bearish engulfing
pattern although the vols were weak. Expect the stock to slide further to 2,065
levels
• IndusInd
Bank - Stock opened gap up and closed at the price of 536.50
on Tuesday. MACD shows bullish signal and there have been strong vols. Expect
the stock to move up to 544 levels
• Marico
- Stock has faced a downward movement in the last 2
trading days, expect the stock to further slide down to 365 levels intraday
basis with it being in overbought category on Stochastics
• Bandhan
Bank – Stock closed at 293.40 levels on Tuesday with some
strong buying in the last 1.5 hours. Expect the stock to test 296.5 levels in
the early hours of trade on Wednesday
Results on August 26:
Agarwal
Industrial Corporation, Ansal Housing, Cupid, DCM, Dolat Investments, Gillette
India, Indraprastha Gas, Minda Finance, NACL Industries, Sharda Motor
Industries, Shree Metalloys, Superb Papers
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