TODAY’S MARKET SNAPSHOT:
Nifty remained volatile throughout the trading session on August 6. The nifty lost 56.40 points while as the bank Nifty lost 25.50 points. The Sensex closed 215.12 points lower at 54277.72.
On the sectoral front, buying was seen in PSE, IT and Auto sectors while as selling was seen in Media, Realty and Commodities.
On the broader market front, both Midcap 100 and Small Cap closed flat
The advance decline ration stood in the ratio of 1:1
Nifty has breached the upper end of the range comprehensively. The nifty is likely to face stiff resistance near 16300 in coming sessions. Investors are advised to remain stock specific for the coming sessions as nifty will enter now in a consolidation phase. In case, nifty breaks 16000 on closing basis, then investors should exit from long positions and initiate fresh short positions for a target of 15700 and lower.
Bank nifty is looking bullish from daily charts. There is a further scope of 1000 points up move in bank nifty. Investors should keep buying bank nifty for a target of 36700 in coming sessions.
FII & DII Data
Foreign institutional investors (FIIs) net sold shares worth Rs 69.37 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 631 crore in the Indian Equity Market on August 6 as per provisional data available on the NSE.
TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY)
ANALYSIS OF TODAY’S DERIVATIVE DATA for August 12 Expiry
As per today’s option chain data, strong resistance for nifty exists at 16300 level while as strong support exists at 16900 level. The call writing was seen at 16300, 16400 and 16500 strike prices while as put writing was visible in today’s trade at 16000, 15900 and 15800 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. Call writing seen in today’s trade at 36000 strike price while as put writing was seen at 35600, 35500 and 35400 strike prices.
MAXIMUM PAIN OPTIONS FOR August 12 EXPIRY
Sectors to watch out for tomorrow
- Nifty Metal
- Nifty FMCG
- Nifty Auto
Stocks to watch out for tomorrow:
- ICICI Bank
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