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    • MARKET OUTLOOK FOR 13th July 2021

    MARKET OUTLOOK FOR 13th July 2021

    • Posted by admin
    • Categories Market Insights
    • Date July 12, 2021
    • Comments 0 comment

    TODAY’S MARKET SNAPSHOT:

     NIFTYBANKNIFTY
    OPEN15766.8035285.05
    HIGH15789.2035394.30
    LOW15644.7535060.35
    CLOSE15692.6035198.90
    PREVIOUS CLOSE15689.8035071.95
    SUPPORT1562034900
    RESISTANCE1580035500
    VIEWSell on RiseBuy on Dips

    The nifty 50 erased all the gains of the day in last one hour of trade and bounced back from lows of the day and closed flat amid volatility on July 12. The nifty rose nearly 2 points and closed at 15692.60 while the bank Nifty rose 127 points and closed at 35198.90. The Sensex closed 13 points lower at 52372.69.

    On the sectoral front, buying was seen in Realty, Commodities, Pvt Banks and Infra, while marginal selling pressure was seen in IT, metal and media space.

    On the broader market front, the nifty midcap 100 index was up 0.44 percent and the nifty small cap 100 index was up 0.60 percent, outperforming the benchmark indices.

    The advance decline ratio stood in the ratio of 1.3:1

    Nifty 50 is consistently finding support near 15620-15640 level from last few sessions. The traders are advised to go short on nifty futures once nifty spot breaks 15620 level for a target of 15450. On the upper side, the nifty 50 is finding it very hard to break the resistance zone of 15800 level, thereby making it an appropriate level to short nifty futures, keeping stop loss at 15830.

    Bank nifty outperformed nifty 50 in today’s trading session. Bank nifty is consistently finding support near 34900 level from last many trading sessions. Traders are advised to go long on bank nifty futures when bank nifty spot reaches near 34900 level. On the upside till bank nifty doesn’t close 35500, the gains will be restricted. Overall the chart structure on bank nifty looks very bullish.

    FII & DII Data

    Foreign institutional investors (FIIs) net sold shares worth Rs 745.97 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 447.42 crore in the Indian Equity Market on July 12 as per provisional data available on the NSE.

    TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)

    SymbolLTP%ChngVolume
    ULTRACEMCO7,070.002.476,10,758
    GRASIM1,535.202.3418,59,031
    SHREECEM28,022.051.8966,083
    JSWSTEEL692.301.581,16,32,484
    SBILIFE1,035.501.5612,97,291
    ADANIPORTS717.95-1.4586,64,383
    BPCL450.70-1.3636,96,468
    BHARTIARTL529.60-1.2487,68,156
    TATASTEEL1,225.00-1.161,66,47,331
    INFY1,547.00-1.0245,88,543

    ANALYSIS OF TODAY’S DERIVATIVE DATA for 8thJuly Expiry

    1. NIFTY

    As per today’s option chain data, strong resistance for nifty exists at 15800 level while as strong support exists at 15500 level. The call writing was seen at 15800, 15850 and 15900 strike prices while as marginal put writing was visible in today’s trade at 15500 which means that nifty is likely to trade lower in next 1-2 sessions.

    • Bank Nifty

    As per today’s option chain data, Strong resistance for bank nifty exists at 35500 level while as strong support exists at 35000 level. Call writing was seen at 35300, 35400 and 35500 strike prices while as no significant put writing was visible in today’s trading session which means bank nifty is likely to fall below 35000 in coming sessions.

    MAXIMUM PAIN OPTIONS FOR 15th JULY EXPIRY

    NIFTY15800
    BANK NIFTY35500

    Sectors to watch out for tomorrow

    1. Nifty BANK
    2. Nifty IT
    3. Nifty FMCG

    Stocks to watch out for tomorrow:

    1. Grasim
    2. Infy
    3. DLF

    “Live Call will be provided on telegram channel “Wealth Creator”.

    For exact entry and exit levels, you can mail me at investor0007@hotmail.com

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    July 12, 2021

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    July 13, 2021

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