TODAY’S MARKET SNAPSHOT:
|VIEW||Neutral||Buy on Dips|
After the initial hour of volatility, the nifty gained strength and extended gains to close higher on July 15. The nifty rose by 41.60 points and closed higher at 15853.95 while the bank Nifty declined by 5.15 points and closed flat at 35668.25. The Sensex closed 134.32 points higher at 52904.05.
On the sectoral front, buying was seen in IT, Service sector, Pharma, media, infra, metal and PSE space, while as selling pressure was seen in Realty, PSU bank, Auto, Energy, FMCG, Consumption and PVT bank space.
On the broader market front, the nifty midcap 100 index was up 0.23 percent and the nifty small cap 100 index was up 0.45 percent, in line with the benchmark indices.
The advance decline ratio stood in the ratio of 1:1
Today nifty formed a bullish candle on daily charts. The nifty formed higher-highs higher-lows from last two sessions. Investors can take long positions if nifty sustains above 15900 tomorrow for half an hour. Overall, the analysis would remain the same on account of weekly expiry tomorrow. On downside if nifty breaks 15760 tomorrow, then fresh weakness will emerge which may take nifty below 15650 in next 2-3 sessions.
Bank nifty formed a bullish candle on daily charts and continued to form higher highs-higher lows from the last three 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 35400 level, then it will slide towards 35000 in next 1-2 sessions. Overall, the data on bank nifty is encouraging and traders should build long positions on every dip for a target of 36000.
Volatility will be high on account of weekly expiry of contracts.
FII & DII Data
Foreign institutional investors (FIIs) net sold shares worth Rs 1303.95 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1335.91 crore in the Indian Equity Market on July 14 as per provisional data available on the NSE.
TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)
ANALYSIS OF TODAY’S DERIVATIVE DATA for 15th July Expiry
As per today’s option chain data, strong resistance for nifty exists at 16000 level while as strong support exists at 15800 level. No significant call writing seen while as put writing was seen in today’s trade at 15850, 15800 and 15750 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 significant writing seen in today’s trade on both call and put side.
MAXIMUM PAIN OPTIONS FOR 15th JULY EXPIRY
Sectors to watch out for tomorrow
- Nifty BANK
- Nifty IT
- Nifty Pharma
Stocks to watch out for tomorrow:
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