MARKET OUTLOOK FOR 14th July 2021

TODAY’S MARKET SNAPSHOT:

	NIFTY	BANKNIFTY
OPEN	15794	35480.05
HIGH	15820.80	35727.85
LOW	15744.60	35340.70
CLOSE	15812.35	35673.40
PREVIOUS CLOSE	15692.60	35198.90
SUPPORT	15720	34900
RESISTANCE	15920	35750
VIEW	Neutral	Buy on Dips

The nifty 50 maintained gains throughout the trading session on July 13. The nifty rose by 119 points and closed higher at 15812.35 while the bank Nifty rose by 474 points and closed higher at 35673.40. The Sensex closed 397 points higher at 52769.73.

On the sectoral front, buying was seen in Fin Service, Pvt Banks, Service sector and PSU banks, while as marginal selling pressure was seen in IT, FMCG, Consumption and media space.

On the broader market front, the nifty midcap 100 index was up 0.21 percent and the nifty small cap 100 index was up 1.03 percent, in line with the benchmark indices.

The advance decline ratio stood in the ratio of 1.1:1

Nifty failed to build on to the gains of the gap-up opening on July 13 and formed a Doji pattern on daily charts. The analysis would remain the same. Unless nifty 50 spot doesn’t close above 15900, strong buying will not emerge and on the downside if nifty 50 spot breaks 15640, then a 300-point downside move is likely. Overall, the nifty 50 is in a neutral zone and investors should try to exit from the long positions.

Bank nifty formed a bullish candle on daily charts and continued to form higher highs-higher lows from the last two sessions. Tomorrow the bank nifty has to hold above 35500 to move towards the level of 36100. On downside if bank nifty spot breaks again 35000 level, then it will open gates for 34500 in next few sessions. Overall, the data on bank nifty is encouraging and traders should build long positions on every dip for a target of 36000.

FII & DII Data

Foreign institutional investors (FIIs) net purchased shares worth Rs 113.83 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 344.19 crore in the Indian Equity Market on July 13 as per provisional data available on the NSE.

TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)

SYMBOL	LTP	%CHNG	VOLUME
ICICIBANK	664.00	2.75	1,98,25,411
GRASIM	1,577.00	2.66	21,76,074
HDFC	2,542.10	2.63	37,16,936
AXISBANK	771.00	2.31	98,10,976
SBILIFE	1,055.00	2.09	25,25,938
ADANIPORTS	704.35	-1.91	1,22,87,372
DRREDDY	5,440.00	-0.99	3,70,482
HCLTECH	970.00	-0.96	29,97,764
TATACONSUM	771.00	-0.63	15,00,414
TECHM	1,050.40	-0.59	19,08,081

ANALYSIS OF TODAY’S DERIVATIVE DATA for 15^th July Expiry

1. NIFTY

As per today’s option chain data, strong resistance for nifty exists at 16000 level while as strong support exists at 15700 level. The call writing was seen at 15950, 16000 and 16100 strike prices while as put writing was visible in today’s trade at 15800, 15750 and 15700 strike prices.

• Bank Nifty

As per today’s option chain data, Strong resistance for bank nifty exists at 36000 level while as strong support exists at 35500 level. No Call writing was seen in today’s trading session while as put writing was visible in today’s trading session at 35700, 35600 and 35500 strike prices.

MAXIMUM PAIN OPTIONS FOR 15^th JULY EXPIRY

NIFTY	15800
BANK NIFTY	36000

Sectors to watch out for tomorrow

1. Nifty BANK
2. Nifty Auto
3. Nifty Financial Services

Stocks to watch out for tomorrow:

1. CDSL
2. MCX
3. RITES

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