Yesterday’s Pick
NIFTY 14 AUG 24200 CE RS.7500/- ( 5 LOT )
BankNifty Fut RS.6,000/- ( PER LOT)
BANKNIFTY 14 AUG 50500 CE RS.6375/- ( 5 LOT )
WOCKPHARMA cash 14600/- ( 200 QUANTITY)
Nifty Technical View
The market showed resilience despite the Hindenburg allegations, with the index recovering from its intraday lows and ending with a minor loss of 21 points at 24,347 on August 12. The Nifty 50 managed to stay above its 5-day EMA of 24,318, but it couldn’t close above the 21-day EMA, which stands at 24,391. The consolidation phase will persist until the index can firmly close and maintain a level above 24,400. Immediate support is expected in the range of 24,300 to 24,200. If the index manages to break and hold above the 24,400 mark, the next key resistance level to watch for is 24,700.
India Vix :
The increase in volatility following a sharp decline highlights growing uncertainty in the market. The India VIX, a gauge of market fear, climbed by 3.47% to 15.87 from the previous 15.34, approaching the 16 mark.
Nifty PCR :
On August 12, the Nifty Put-Call Ratio (PCR) decreased to 1.03 from the previous session’s 1.09. The PCR is a measure of market sentiment, where a higher ratio (above 1) suggests that more Put options are being sold compared to Call options, typically reflecting a bullish outlook.
FII And DII Data :
Foreign institutional investors (FIIs/FPIs) sold Indian stocks valued at Rs 4,680.50 crore, whereas domestic institutional investors (DIIs) Bought Indian stocks worth Rs 4,477.73 crore during the same period.
Stocks In News :
Wipro
Subha Tatavarti has resigned as Chief Technology Officer of the company, effective August 16, to pursue opportunities outside Wipro.
Aditya Birla Sun Life AMC
Parag Joglekar has resigned as Chief Financial Officer and Key Managerial Personnel of the company to pursue career opportunities outside the company, effective September 13.
Nifty and Bank Nifty Support and Resistance level
NIFTY :-
Resistance 24,420, 24,500, and 24,700
Support based 24,244, 24,080 and 24,000
BankNifty:
Resistance 50,800, 51,000, and 51,100
Support based 50,150 49,720, and 49,500
Index Future levels
Nifty Futures Buy Above 24,570 The suggested targets for this are 24,670 and 24,830 with the stop loss set at 24,250.
Bank Nifty Buy Around 50,380 index is expected to upside levels of 50,700 and 50,950 and level 50,150 will act as a stop loss.
Momentum Pick: Oberoi Realty Ltd
Buy at ₹ 1800| Target price: ₹1880 |Stop Loss:₹ 1750
Oberoi Realty Ltd is a real estate development company, headquartered in Mumbai. It is the part of Oberoi Realty Group, focused on developments in the residential, office space, retail, hospitality, and social infrastructure verticals.As of Q1FY24, company has developed 95 lakh sq ft and 103 lsf is under implementation through its wholly owned subsidiaries and group companies.
As of Q1FY24, ORL sold 68% of total area launched for sales of which 98% of area is registered. The company had a collection efficiency at 78%.ORL has 11 projects under the execution phase, comprising residential, commercial, and hotels as on June 30, 2023. Of the total project cost, company has incurred 73% cost as on June 30, 2023. These projects are located in MMR and Thane. Additionally, seven projects are upcoming in these locations, including extensions or additional phases of the ongoing projects.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
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