MARKET OUTLOOK FOR 16th August 2021

TODAY’S MARKET SNAPSHOT: 

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) 

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 

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