Market View | August 10, 2021

silver imac displaying line graph placed on desk

Welcome, all! Here, we present our market views based on the factors visible in the market, domestically and globally. To begin –

Recap of last trading session (09 August 2021) –

  1. All the indices remained in a very narrow range yesterday, with closing at a very negligible difference to Friday’s close.
  2. The indices are facing resistance on upside and they need additional volumes to kick in to drive with breadth in the market.
  3. Check and subscribe to stay updated for 10th August analysis.

IPO Section

  • There are 4 IPOs in action this week.
  • GMP is on rise for all the 4 IPOs (Note: GMP is not a decisive factor, but only a rough indication).
  • IPO Timelines –
    • CAR TRADE – 9th August to 11th August
    • NUVOCO – 9th August to 11th August
    • APTUS – 10th August to 12th August
    • CHEMPLAST – 10th August to 12th August
CAR TRADE | APTUS | NUVOCO | CHEMPLAST
  • More details to follow soon. Subscribe to the blog, follow the channel and stay updated.

For 10th August 2021 –

Domestic Cues

  1. Promoters are now allowed to give personal guarantee on foreign assets.
    • Such move by RBI facilitates ease of doing business by fewer approvals and simplied processes.
  2. Indices are hovering in a narrow range and will need to break either side to give a directional move.
  3. The resuts season continues and quite a couple of companies are declaring results today. Check below for more details.
  4. We have good support at 15960 – 16000 levels on Nifty. Long positions initiated for short term can hold that level as SL.
  5. At 16300 – 16350 lies the major resistance on index level.

Global Cues

  1. SGX currently indicates a narrow gap down ( 9 points at 0830 hours IST)
  2. Asia stocks drifted down in the early hours of Tuesday and show a weak momentum.
  3. Commodity markets steadied after Monday’s selloff as weighed talk of stimulus withdrawal.
  4. The resurgence in the delta virus variant cases across the globe is bringing a note of caution in the markets.

Results Today – below are the companies declaring Q1 – 2021-22 results today.

Manapurram | Mothersumi | Coal India | Jindal Steel | Siemens | Lupin | MFSL | Trent | Powergrid

Scrips in FnO Ban – CANBK | IBULHSGFIN | NATIONALUM | RBLBANK | SAIL | SUNTV

Source: NSE Website

Disclaimer:

The analyst is not a SEBI RIA. The views expressed by Govardhan are completely to serve educational and learning purposes. Please consult your financial advisor before entering any positions. We, in no way, are responsible for the profits made or losses incurred.

Feel free to buy me a coffee, and check my digital presence!!

Thanks! Have a Good Trading Day!

Published by Govardhan Pinni

Blogging. Capital Markets. Consulting. Travel. Writing. YouTubing.

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