MarketView by Trade Brains Daily market analysis, updates and views for the next day. Get directly on your telegram. Join here: https://t.me/MarketViewTB
Market Views for the Day:
- As expected, The market started on a very positive note with most of the sectors ending in Green or Unch
- Nifty hit our targets of 10550 and settled well above it, even Bank Nifty went near our target of 22500
- The Important technical resistance of 10400 has become a very strong support for market now. Now, 10400 becomes the deciding factor the market
- The Option expiry was action packed as expected and call option buyers and put Option sellers taking full control of the market
- Markets started on a positive note for the day with SGX Nifty Trading in Green at the beginning of session.
- The Sensex Opened at 35604.00 and closed at 35843.70. The high for the day way 36014.92 and the low for the day was 35595.36 . Sensex gained 1.21% for the day
- Nifty Opened at 10493.05 , the high for the day was 10598.20 and the low for the day was 10485.55 . Nifty closed at 10551.70 . Nifty gained 1.17% for the day
- Bank Nifty Opened at 22133.80 , the high for the day was 22344.85 and the low for the day was 21890.50 . Bank Nifty closed at 21593.20 . Bank Nifty lost -0.11% for the day
Top Gainers & Losers:
- The Sector for the day: Nifty Auto (up 2.81%) and Nifty IT (up 2.65%). All Auto and tech Giants like Motherson Sumi, M&M, Bosch, HCL, Infosys, TCS gained for the day.
- The Top 5 gainers (Nifty 50) for the day were- M&M, HeroMotoCorp, Cipla, Titan, HCL Tech,
- The Top 5 losers (Nifty 50) for the day were – Axis Bank, UPL, VEDL, HUL
FII & DII data:
The Net FII selling for the day was -556.72 cr . The Net DII buying was 908.64 cr .
Views for tomorrow:
- The Market started on a positive note and almost ended the day 1.21% high. The major impetus for the market came from Auto and IT sector
- Strong weekly Options expiry and Open Interest shifting to higher levels means that the market is brewing for a higher move and the next levels could be challenged
- The market is expected to be little choppy, as we are entering new trading range.
- With market closing near 10550, the gate to 10700-10750 opens up but with a stop loss below 10410.
- For Nifty, the important levels are 10750 and 10400.
- For Bank Nifty the important levels to watch out on upside are 22500 & 23000. The important supports are at 22100
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