Yesterday’s Pick
Short Term Pick M&M Fin. Services RS.4,200/- ( 200 Quantity)
HERO/ZERO FINNIFTY 3SEP 23800CE RS.4,500/- ( 10 Lot)
BANKNIFTY 4SEP 51500CE RS.4,125/- ( 5 Lot)
Nifty Technical View
The Nifty 50 closed almost unchanged after a day of trading within a narrow range on September 3. This marks the 14th consecutive day that the index has closed higher, reaching a new all-time closing high with a slight increase of 1.2 points. The market is expected to remain in a period of consolidation. If the Nifty 50 closes definitively above 25,300, it could potentially rise to the range of 25,500 to 25,600. On the downside, 25,200 is the immediate support level, and below that, 25,000 is a critical support level.
India Vix :
After a day of gains, market volatility eased, dropping below the 14 mark, which provided some reassurance to investors. As long as the India VIX stays below 15, bullish sentiment is likely to persist, according to experts. The fear gauge, India VIX, fell by 1.55 percent to 13.84, down from 14.06.
FII And DII Data :
On September 3, foreign institutional investors (FIIs) were net buyers of Indian equities, acquiring shares worth Rs 1,029.25 crore. In contrast, domestic institutional investors (DIIs) also emerged as net buyers, purchasing shares worth Rs 1,896.21 crore.
Nifty PCR Data :
On September 3, the Nifty Put-Call Ratio (PCR) increased to 1.2 from 1.18, suggesting a bullish market sentiment as traders are buying more Put options relative to Call options. A PCR above 1 typically indicates growing bullishness, while a PCR below 0.7 would suggest a bearish outlook with more Call options being sold.
Stocks In News
Adani Green Energy
The Board has approved the execution of binding documents between the company, Adani Renewable Energy Sixty Four (ARE64L), and TotalEnergies Renewables Singapore Pte. TotalEnergies will make a further investment of $444 million to form a new 50:50 joint venture company with Adani Green Energy. The new joint venture will house a 1,150 MWac portfolio.
Hindustan Aeronautics
The Cabinet Committee on Security has approved the proposal for the procurement of 240 aero-engines (AL-31FP) for the Su-30MKI aircraft of the Indian Air Force under the Buy (Indian) category from the company, at a cost of over Rs 26,000 crore.
Nifty and Bank Nifty Support and Resistance level
NIFTY :-
Resistance 25,200, 25,250, and 25,350
Support based 25,080, 25,000, and 24,850
BankNifty :–
Resistance 51,550, 51,600, and 51,750
Support based 51,250, 51,080, and 50,950
Index Future levels
Nifty Futures Buy At 25,200 The suggested targets for this are 25,350 and 25,450 with the stop loss set at 25,050.
Bank Nifty Buy At 51,600 index is expected to upside levels of 51,700 and 51,900 and level 51,350 will act as a stop loss.
Momentum Pick: AEGIS LOGISTICS LTD
Buy above ₹ 855 | Target price: ₹ 970/ 1000 |Stop Loss:₹ 790
Aegis Logistics (Formely known as Aegis Chemical Industries Ltd.), incorporated in 1956 provide logistic solutions for oil, gas, chemicals, and petrochemical industriesAegis Logistics Limited is India’s leading oil, gas, and chemical logistics co. It operates a network of bulk liquid handling terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines, and LPG gas stations to deliver products and services.
Aegis provides import, export, logistics, and storage services for all types of liquid chemicals, petroleum products, and vegetable oils. The company has terminals in six ports (Mumbai, Kandla, Pipavav, Mangalore, Haldia, Kochi) with total operational capacity of 18,29,000 KL
Happy trading!
Commodity Samachar Securities
We Decode the language of the market
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