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:
- A rather subdued and a quite Weekly options expiry. But, it might just have given an indication for the expectation for the next week.
- The Options expiry happened in lines of our expectation, near 10800 levels.
- Bank Nifty showed a lot of strength and it managed to closed near the 23000 levels and which opens the doors for net levels
- 10650-10700 , have become a very strong support for market now. And it’s the pivot for the market. And on the upside 11000 is the level to watch out.
- Markets started on a positive note for the day with SGX Nifty Trading in Green at the beginning of session.
- The Sensex Opened at 36450.69 and closed at 36737.69. The high for the day way 36806.30 and the low for the day was 36422.30 . Sensex gained 1.12% for the day
- Nifty Opened at 10755.55 , the high for the day was 10836.85, and the low for the day was 10733.00 . Nifty closed at 10813.45 . Nifty gained 1.01% for the day
- Bank Nifty Opened at 22753.15 , the high for the day was 22998.30, and the low for the day was 22673.40 . Bank Nifty closed at 22907.20 . Bank Nifty gained 1.43% for the day
Top Gainers & Losers:
- The Sector for the day: Nifty Metal (Up 1.95%) and Nifty bank (up 1.43%). All the major indexes ended the day in Green. SBI, AXIS Bank, Hindalco, Jindal Steel were the major gainers of the day.
- The market Ended In Green, and the breadth was in favour of bulls (35 advances and 15 declines in Nifty 50)
- The Top 5 gainers (Nifty 50) for the day were- Hindalco, HDFC, SBI, Bajaj Finance, TATA steel
- The Top 5 losers (Nifty 50) for the day were – Infratel, Coal India, TECHM, ONGC, Hero Motors
FII & DII data:
The Net FII buying for the day was 212.77cr . The Net DII selling was -803.39cr.
Views for tomorrow:
- The Sector to watch out for tomorrow is Banks and FMCG. We could see decent moves in them
- The market started the day on positive note and ended the day with substantial gains over previous day. Now the doors to 11000 are opened for Nifty
- The call option writers are on back foot after today’s positive expiry
- In Nifty, the levels to watch out will be 10900 and 11000 on upside and 10650-10700 on the downside. This could also be the broader range for few days
- For Bank Nifty the important levels to watch out on upside are 23500. The important supports are at 22500
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