MARKET OUTLOOK FOR 13th July 2021

TODAY’S MARKET SNAPSHOT:

	NIFTY	BANKNIFTY
OPEN	15766.80	35285.05
HIGH	15789.20	35394.30
LOW	15644.75	35060.35
CLOSE	15692.60	35198.90
PREVIOUS CLOSE	15689.80	35071.95
SUPPORT	15620	34900
RESISTANCE	15800	35500
VIEW	Sell on Rise	Buy 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)

Symbol	LTP	%Chng	Volume
ULTRACEMCO	7,070.00	2.47	6,10,758
GRASIM	1,535.20	2.34	18,59,031
SHREECEM	28,022.05	1.89	66,083
JSWSTEEL	692.30	1.58	1,16,32,484
SBILIFE	1,035.50	1.56	12,97,291
ADANIPORTS	717.95	-1.45	86,64,383
BPCL	450.70	-1.36	36,96,468
BHARTIARTL	529.60	-1.24	87,68,156
TATASTEEL	1,225.00	-1.16	1,66,47,331
INFY	1,547.00	-1.02	45,88,543

ANALYSIS OF TODAY’S DERIVATIVE DATA for 8^thJuly 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 15^th JULY EXPIRY

NIFTY	15800
BANK NIFTY	35500

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

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