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    • MARKET OUTLOOK FOR 16th August 2021

    MARKET OUTLOOK FOR 16th August 2021

    • Posted by admin
    • Categories Market Insights
    • Date August 15, 2021
    • Comments 0 comment

    TODAY’S MARKET SNAPSHOT: 

      NIFTY  BANKNIFTY 
    OPEN  16385.70  36000.75 
    HIGH  16543.60  26233.30 
    LOW  16376.30  35937.10 
    CLOSE  16529.10  36169.35 
    PREVIOUS CLOSE  16364.40  35937.05 
    SUPPORT  16380  35800 
    RESISTANCE  16560  36400 
    VIEW  Sell  Neutral 

     

    Nifty remained positive throughout the trading session on August 13 and closed at an all-time high. The nifty added 164.70 points and closed at 16529.10, while the bank Nifty added 232.30 points and closed at 36169.35. The Sensex closed 593.31 points higher at 55437.29. 

    On the sectoral front, buying was seen in IT, Service Sector, FMCG, and Infra space while selling pressure was seen in Realty, Media, and Pharma space. 

    On the broader market front, the nifty midcap 100 index closed 0.30% lower and the super small cap 100 index closed 0.39% lower under-performing with the benchmark indices. 

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

    Nifty is looking very expense at these levels. The supportive macro data uplifted market mood from the very beginning and nifty hit all time high once again. The index has formed a bullish candle on weekly scale. If nifty holds 16500 for next 1-2 sessions, then momentum is likely to continue and nifty may hit 16700 before any reasonable correction. Since market has formed higher high higher low formation from last 5 sessions and has closed higher as well, hence possibility of hitting 16700 looks imminent. If nifty trades below 16450 tomorrow, then it is likely to hit 16300. Be stock specific and avoid long positions for the time being.  

    Bank nifty is likely to continue its positive momentum in next few sessions. As bank nifty managed to close above 36000, hence there is a high possibility of another up move of 500-600 points. 

     

    FII & DII Data 

    Foreign institutional investors (FIIs) net purchased shares worth Rs 819.77 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 149.50 crore in the Indian Equity Market on August 13 as per provisional data available on the NSE. 

    TODAY’S TOP FIVE GAINERS AND LOSERS (NIFTY) 

    SYMBOL  LTP  %CHNG  VOLUME 
    TATACONSUM  805.25  4.00  79,56,492 
    TCS  3,456.05  3.11  43,63,584 
    LT  1,665.05  2.56  54,39,442 
    HCLTECH  1,123.95  2.50  72,70,809 
    TATASTEEL  1,467.25  2.22  2,89,69,872 
    SYMBOL  LTP  %CHNG  VOLUME 
    EICHERMOT  2,545.00  -2.73  41,34,045 
    DRREDDY  4,642.55  -1.57  7,93,895 
    POWERGRID  184.65  -1.26  2,00,82,633 
    CIPLA  894.40  -1.20  29,19,925 
    BRITANNIA  3,581.00  -1.10  3,23,144 

     

    ANALYSIS OF TODAY’S DERIVATIVE DATA for August Expiry 

    1. NIFTY 

    As per today’s option chain data, strong resistance for nifty exists at 16600 level while as strong support exists at 16400 level. The call writing was seen at 16800, 17000 and 16700 strike prices while as put writing was visible in today’s trade at 16500, 16400 and 16600 strike prices. 

    1. Bank Nifty 

    As per today’s option chain data, Strong resistance for bank nifty exists at 36500 level while as strong support exists at 36000 level. No writing visible today. 

    MAXIMUM PAIN OPTIONS FOR August EXPIRY 

    NIFTY  16600 
    BANK NIFTY  37000 

     

    Sectors to watch out for tomorrow 

    1. Nifty Bank 
    1. Nifty Fin Services 
    1. Nifty Auto 

    Stocks to watch out for tomorrow: 

    1. HDFC 
    1. Tata Motors 
    1. Granules 

    “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 15, 2021

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    MARKET OUTLOOK FOR 17th August 2021
    August 16, 2021

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