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We still maintain our stance that the trend is volatile and pullback rally is in offing and selling may emerge hence trader needs to be cautious at current level.
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Dear Trader…
On the second day of the week, the Indian stock market started trading with a bullish trend. As expected, the market continued its upward trend as supportive global cues led to a positive start which was further fuelled by the buying in index majors.
Indian shares opened higher on Tuesday as gains in heavyweight financial and information technology stocks helped extend a rally from the previous session. Domestic markets mirrored positive cues from its global peers, tracking gains from the US market as bond yields pulled back easing concerns about rising inflation.
FII and FPIs, on Monday saw a net sold of Rs 178.51 crore in the cash segment. A total of Rs 6852.70 crore was sold against a total purchase of Rs 6240.73 crore. Domestic institutional investors saw a net purchase of Rs 716.15 crore in the cash segment. A total of Rs 5374.08 crore was sold against a total purchase of Rs 4657.93 crore.
Markets witnessed a breather after the recent fall and settled with decent gains on favorable global cues. In the Indian stock market, the funds have started easing the bullish trade with a break in the record highs in the last two weeks, which is likely to lead to a two-way rally in the coming days in the wake of rising foreign fund sales.
We still maintain our stance that the trend is volatile and pullback rally is in offing and selling may emerge hence trader needs to be cautious at current level.
Ø INDEX MOVEMENT – 11.08.2021
Dear Traders,
Nifty Future has resistance at 16303 – 16330 Point; above which other resistance levels are at 16373 – 16404 Point with highly Volatile Trend,
Nifty Future has Downside support levels are at 16202 – 16160 Point; below16160 Point, other support levels are at 16133 - 16106 Point.
I am positive for the next bullish trend only above @ 16330 Point but be with the trend. Let the market decide further moves.
As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Nifty Future crosses @ 16330 Point, again then the upper side target is quite high and it may touch @ 16373 Point in the short term...!!!
Dear Traders,
Bank Nifty Future has resistance at 36303 – 36373 Point; above which other resistance levels are at 36474 – 36606 Point with highly Volatile Trend,
Bank Nifty Future has Downside support levels are at 36006 – 35808 Point; below35808 Point, other support levels are at 35737 – 35676 Point.
I am positive for the next bullish trend only above @ 36474 Point but be with the trend. Let the market decide further moves. As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Bank Nifty Future crosses @ 36474 Point, again then the upper side target is quite high and it may touch @ 36606 Point in the short term...!!
Ø Trading Idea for the derivative stocks….
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