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 (10 August 2021) –
- With the help of Nifty IT pack especially of anything else, we inched higher yesterday.
- TCS, Infosys and other IT Scrips closed higher with volumnous upmove.
- Although the broader scenic tends to appear positive, all the mid caps and small caps actually bled.
- The Banking Space remained posied especially with a very silent move until the last 45 minutes yet still remains in a narrow range.
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There are no open IPOs currently in the market.
- Today is a weekly expiry of Index Contract and there will be volatility poised evenly. As the premiums are still heavily built, we are inclined to witness a rangebound session for majority of time. Play safe with your capital in case you are a buyer of options, especially.
- Nifty has likely supports at 16500 followed by 16150 and 15960 levels with resistance at 16700 and 16750.
- The momentum in couple of index scrips is strong whereas the mid caps and small caps among else are seeking for relief move.
- The index is just a benchmark but doesn’t represent the whole population of stocks, ever. It’s only a gauge of the market sentiment for investors but the reach has just been sought differently assuming to compare the top 30 or 50 or the various index scrips and move along with them. That would be a gross error on one’s part and thourough research is necessary.
- SGX indicates a slight gap up opening for Indian Markets.
- India likely to withdraw sugar export subsidies from new season.
- Apollo Hospitals outperfomed from the last 2 sessions and is an interesting scrip.
- The Dow Jones Industrial Average fell 0.79%, snapping a five-day winning streak.
- The S&P 500 lost 0.71% after posting a new record high on Monday, and the Nasdaq Composite dropped 0.93%.
- Shares in Asia-Pacific were mixed in morning trade as investors look ahead to the Reserve Bank of New Zealand’s interest rate decision.
- Yesterday, NZDUSD fell over 1% with stringent policies around the economy and also with RBNZ policy meeting to come out shortly.
- Japan’s Nikkei is hovering around it’s previous close.
- UCO Bank
- There’s been a retest to a price of above 14, with 10% return from the last discussion (CMP 13.1. 3% up yet)
- JSW ISPL
- Current Market Price stands around INR 36, with a return of 10% until now,
- Recent highs were 37.15, 13% above from the levels discussed.
Results Today – there are no companies declaring results today for Q1 2021-22.
Scrips in FnO Ban – Cadilla Health | CANBK | NATIONALUM | VEDL | SAIL | SUNTV | PNB
Source: NSE Website
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.