TODAY’S MARKET SNAPSHOT:
Nifty was volatile throughout the trading session on July 27. The nifty shed 78 points and closed at 15746.45 while as the bank Nifty fell 152.25 points and closed at 34797.45. The Sensex closed 273.51 points lower at 52578.76.
On the sectoral front, buying was seen in Metal, PSU banks and fin service space, while as heavy selling pressure was seen in Pharma, Energy and Realty space.
On the broader market front, the nifty midcap 100 index closed 0.43% lower and the nifty small cap 100 index closed flat outperforming the benchmark indices.
The advance decline ration stood in the ratio of 1:1.5
Nifty is making lower-lows lower highs from last 2-3 sessions. This is the expiry week, hence big moves are expected on either side in next few trading sessions. Avoid longs till nifty doesn’t give closing above 15900. If nifty breaks 15740 tomorrow, initiate short positions on nifty futures. Be stock specific for next three sessions.
Bank nifty respected 34500 in today’s trading session as well. Technically, one should initiate long positions on bank nifty near 34600 level. If bank nifty fails to hold 34500 in next few sessions, initiate short positions for a target of 33800. Avoid long positions till bank nifty doesn’t close above 35350.
FII & DII Data
Foreign institutional investors (FIIs) net sold shares worth Rs 1459.08 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 729.96 crore in the Indian Equity Market on July 27 as per provisional data available on the NSE.
TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)
ANALYSIS OF TODAY’S DERIVATIVE DATA for July Expiry
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 15800, 15900 and 16000 strike prices while as marginal put writing was visible in today’s trade at 15700.
- Bank Nifty
As per today’s option chain data, Strong resistance for bank nifty exists at 35000 level while as strong support exists at 34500 level. No writing visible in today’s trade and as such big move is expected tomorrow on either side.
MAXIMUM PAIN OPTIONS FOR JULY EXPIRY
Sectors to watch out for tomorrow
- Nifty Metal
- Nifty Pharma
- Nifty Realty
Stocks to watch out for tomorrow:
- Dr Reddys
- Axis Bank
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