Thursday, August 5, 2021

Stock Market Tomorrow | Nifty Pre Market Strategy | 06 Aug 21


Stock Market Tomorrow | Nifty Pre Market Strategy |

Stock Market Today 


Sensex ends 123 points higher, Nifty settles near 16,300; Airtel gains 4%, ITC 3%

  • RIL and HDFC Bank lead the market gains
  • 15 of 30 Sensex stocks end the day in the green
  • Index contributors: RIL, HDFC Bank, Bharti Airtel, ITC, Kotak Bank
  • Top Index gainers: Airtel (4.30%), ITC (3.14%), Tech Mahindra (2.67%)
  • Top Index losers: SBI (3.33%), IndusInd Bank (2.20%), Bajaj Finance (1.78%)
  • S&P BSE Telecom biggest sectoral gainer, up 3.39%
  • S&P BSE REALTY biggest sectoral loser, down 1.06%
  • Volume toppers: Airtel, SBI, ITC, Tata Steel, RIL

Nifty Analysis

Key  Data

Put / Call Options

Call Max Traded Strike Price16300.00
Call Max Traded SP Contracts73338
Call Option Open Interest19083.85 K
Call Option OI Chg %1.38
Put Max Traded Strike Price16200.00
Put Max Traded SP Contracts74484
Put Option Open Interest33859.15 K
Put Option OI Chg %2.97

RUPA | Stock Analysis & Price Outlook

Put Call Ratio - 26/08/2021

Put Open Interest33859.15 K
Call Open Interest19083.85 K
PCR Open Interest1.77
PCR OI ReadingStrong Bearish
Put Contracts Traded625178.00
Call Contracts Traded459985.00
PCR Volume1.36
PCR Vol ReadingStrong Bearish

On the options front, the maximum Put OI is placed at 15000 followed by 15800 strikes while the maximum Call OI is at 16500 followed by 16000 strikes.

Minor Call writing is seen at 16700 then 16550 strikes while Put writing is seen at 16000 then 16200 strikes. Options data suggests a broader trading range in between 16000 to 16500 zones, suggest experts.

Market Outlook

The market has moved up quite a bit this week and may pause a little. But, it still remains a buy-on-dips market . There is a lot of liquidity and one needs to remain cautious as a lot of initial public offerings (IPOs) are coming.

We reiterate our view to focus on the selection of stocks as we’re seeing selective participation, largely led by the index majors and other heavyweights.

Nifty on Technical Daily Charts indicates very strong momentum. We can see 6 bullish candles consecutively with higher top higher bottom formation. But for Friday, Nifty can again trade in the sideways zone . But still Nifty is still well placed for buy on dips strategy. 16218 is important support and 16369 is important resistance.

Thanks for your Precious Time.

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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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