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    • MARKET OUTLOOK FOR 4th August 2021

    MARKET OUTLOOK FOR 4th August 2021

    • Posted by admin
    • Categories Market Insights
    • Date August 3, 2021
    • Comments 0 comment

    TODAY’S MARKET SNAPSHOT:

      NIFTY BANKNIFTY
    OPEN 15951.55 34660.75
    HIGH 16146.90 35238.45
    LOW 15914.35 34649.20
    CLOSE 16130.75 35207.45
    PREVIOUS CLOSE 15885.15 34710
    SUPPORT 15900 35100
    RESISTANCE 15250 35350
    VIEW Positive Positive

     

    Nifty maintained positive momentum throughout the trading session on August 3 and finally closed above 16000 at all-time high. The nifty added 245.60 points and closed at 16130.75 while as the bank Nifty added 497.45 points and closed at 35207.45. The Sensex closed 872.73 points higher at 53823.36.

    On the sectoral front, buying was seen in all sectors barring metals and media.

    On the broader market front, the nifty midcap 100 index closed flat and the nifty small cap 100 index closed 0.24% lower under-performing with the benchmark indices.

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

    Nifty broke the upward end of the range today, courtesy huge short covering by market participants, and closed well above the psychological level of 16000. Since the range has broken on the upper side, hence further steam is still left in the nifty which may take it up to 16250-16300. Buy every dip and lighten your positions near 16250-16300 range.

    Bank nifty today negated all the bearishness on daily charts. The bank nifty also broke the upper end of the range today and closed well above the psychological level of 35000. Bank nifty is expected to continue its bull run till 35500-35550 where profit booking is expected by the market participants. In case, bank nifty closes above 35500 tomorrow, then a further move of 1000 points on the upside is highly possible. Buy every dip.

    FII & DII Data

    Foreign institutional investors (FIIs) net purchased shares worth Rs 2116.60 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 298.54 crore in the Indian Equity Market on August 3 as per provisional data available on the NSE.

    TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)

    Symbol LTP %Chng Volume
    TITAN 1,842.15 3.99 59,56,344
    HDFC 2,555.00 3.78 59,62,929
    INDUSINDBK 1,022.45 3.49 44,50,926
    NESTLEIND 18,298.05 3.29 63,128
    ULTRACEMCO 7,849.35 2.71 3,85,216
    Symbol LTP %Chng Volume
    JSWSTEEL 740.85 -0.78 69,39,253
    SHREECEM 29,198.00 -0.33 46,640
    BAJAJ-AUTO 3,830.00 -0.30 4,08,981
    UPL 789.40 -0.21 32,65,559
    TATASTEEL 1,407.25 -0.20 86,40,560

     

    ANALYSIS OF TODAY’S DERIVATIVE DATA for August 5 Expiry

    1. NIFTY

    As per today’s option chain data, strong resistance for nifty exists at 16300 level while as strong support exists at 15900 level. The call writing was seen at 16400 and 16500 strike prices while as put writing was visible in today’s trade at 16000, 15900 and 15800 strike prices.

    1. Bank Nifty

    As per today’s option chain data, Strong resistance for bank nifty exists at 36000 level while as strong support exists at 35000 level. No significant call writing seen in today’s trade while as put writing was seen at 35000, 34900 and 34800 strike prices.

    MAXIMUM PAIN OPTIONS FOR August 5 EXPIRY

    NIFTY 16300
    BANK NIFTY 36000

     

    Sectors to watch out for tomorrow

    1. Nifty Metal
    2. Nifty FMCG
    3. Nifty Auto

    Stocks to watch out for tomorrow:

    1. Sail
    2. SBI
    3. Titan

    “Follow our telegram channel “Wealth Creator”.

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

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    August 3, 2021

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    MARKET OUTLOOK FOR 5th August 2021
    August 4, 2021

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