Global cues:
•
U.S. markets started positively, as participants took cues
from data showing the strength of the housing market in July and downplayed
fresh signs elsewhere of the economic recovery flattening out.
•
The market seemed largely untroubled by the increasing amount
of noise generated by political arguments, which centered at the weekend around
the role of the U.S. Postal Service.
•
Asian markets look poised to track Wall Street’s
tech-fueled rally.
•
Trends on SGX Nifty indicate a flat opening for the
index in India with a 2-point gain.SGX Nifty
Indian
markets:
•
Nifty ended green on Monday (69 points up) as financial
heavyweights recovered.
•
Barring pharma sector, all indices ended in the green. Nifty
Media, Metal and Auto were up by 2%.
•
FIIs were net buyers of worth Rs 332.90 Crore and DIIs were net
seller of worth Rs. 717.62 Crore for August 14, 2020.
•
India VIX fell 1.67 per cent to 21.30 level. Volatility fell
after last Friday’s bounce and the overall lower choppiness suggested limited
downside and support-based buying could again emerge at lower levels.
•
Gold prices in India traded flat with a positive bias while
silver prices surged over 2% on the MCX.
•
SC asked Centre to clarify its stand on why Reliance Jio, which is earning revenue by sharing Reliance
Communication's (RCom) spectrum be not asked to pay the AGR related dues to the
government. Hearing on August 18. Markets to react based on it.
•
Shares of NTPC rose 7% on Monday after the company's June
quarter earnings beat street estimates.
•
The nifty contribution chart for Friday was as follows:
Trends:
•
Nifty
formed an Inside Bar pattern on the daily scale, as it traded inside the
trading range of the previous session, which indicated that declines are being
bought into and the major trend could remain intact.
•
Nifty
has to hold above 11,250 level to witness an up-move towards the 11,350-11,400
zone while on the downside support exists at 11,150 and then 11,100 levels.
• Bank Nifty formed a bearish candle as it
closed lower than its opening level. Iit has to cross and hold above the 22,000
mark to witness an up-move towards 22,250 and 22,500 levels.
Option strategy for tomorrow:
•
For tomorrow we can sell Nifty at 11340
– 11360 level, before that Nifty will be rangebound between 11200 to 11300.
•
Nifty is a sell below 11200, with Stop
loss of 11230.
•
Nifty’s range for tomorrow is 11150 to
11340.
•
Nifty lacks directional cues, and needs positive news to break out of
this range.
•
Upside resistance is at 11240 & 11340.
•
Downside support is at 11160 & 11100.
•
Maximum call OI of 24 lakh contracts
seen at 11,400 strike to act as crucial resistance for tomorrow
•
Maximum put OI of 22.32 lakh contracts seen at 11,200 strike to act as
crucial support for tomorrow
Stock picks for the day
•
HDFC closed at 1800.55 on Monday, and formed bullish candle with strong
buying in the last 1 hour of trade, expect the stock to test 1,820 levels on an
intraday basis on Tuesday
•
Tata Motors was on a uptrend, Formed a big Red Marubozu on Friday, it
did slide again on Monday, expect the stock to slide further to 120 levels
•
Kotak Bank had been on a downtrend in the last week, it has formed green
candle with decent vols on Monday expect the stock to continue this bullish
trend and move up to 1,358 levels
•
Coal India opened up gap up on Monday with strong vols, the stock has
broken the upper deviation of the Bollinger band expect the stock to test 139
levels on an intraday basis
Results on August 17:
Bharti Airtel Ltd, Kotak Mahindra Bank Ltd,
Hindustan Aeronautics Ltd, Zee Entertainment Enterprises Ltd,
Oracle Financial Services Software Ltd, Ashiana Housing Ltd
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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