Yesterday’s Picks
PEL CASH Rs 6,800 (200 Quantity)
IOC CASH Rs 1,800 (200 Quantity)
NIFTY 1 Aug 24900CE Rs 3,750 (Per 5 Lot)
Weekly Top Pick ASHOKLEY Rs 2,200 (200 Quantity)
SRF FUT 2510 Rs 48,750 (Per 5 Lot)
Daily Newsletter Bank Nifty Future Rs 8250 (Per 1 Lot)
Nifty Technical View
The Nifty 50 has shown a bearish candlestick pattern on the daily charts with trading volumes above the average. The momentum indicator, RSI, is showing a negative divergence, despite the index continuing to form higher highs and higher lows, which suggests that consolidation might occur overall. If the index remains above 24,800 in the upcoming sessions amid this expected consolidation, then the range between 25,000 and 25,200 will be the key level to watch for potential upward movement.
Indian Vix
Volatility bounced back, recovering all the losses from the previous day, but it still didn’t rise above all the key moving averages. This suggests that conditions are favorable for bulls. The India VIX, which measures market volatility, increased by 5.7 percent to 12.95, up from 12.25 levels.
FII And DII Data
Foreign institutional investors (FIIs/FPIs) sold Indian stocks worth Rs 2,474.54 crore, while domestic institutional investors (DIIs) bought Indian stocks valued at Rs 5,665.54 crore during the same period.
Put Call Ratio
The Nifty Put-Call ratio (PCR), which reflects market sentiment, dropped to 1.14 on July 29 from 1.36 in the previous session. An increasing PCR, or a ratio higher than 0.7 or exceeding 1, means traders are selling more Put options than Call options, generally indicating a bullish sentiment in the market. Conversely, if the ratio falls below 0.7 or approaches 0.5, it suggests that selling in Call options is higher than in Put options, indicating a bearish market sentiment.
Stocks in the news
Torrent Pharmaceuticals: Torrent Pharmaceuticals is likely to acquire private equity firm KKR’s nearly 54 percent stake in smaller rival JB Chemicals and Pharmaceuticals, with the deal estimated to be worth between ₹17,000 and ₹18,000 crore, or possibly even more, according to sources.
Colgate-Palmolive India Ltd: Colgate-Palmolive India Ltd reported a 33 percent increase in net profit for the quarter ending June 30, reaching ₹363 crore, compared to ₹27 crore in the same quarter last year. The company also reported net sales of ₹1,485 crore for the June quarter. However, sequentially, the profit decreased by 4.22 percent from the previous quarter, where it was ₹379 crore in the March quarter. Revenue from operations grew by 13 percent in the June quarter, reaching ₹1,485 crore, compared to ₹1,314 crore in the same quarter last year. Sequentially, revenue from operations increased by 0.33 percent, with ₹1,480 crore reported in the March quarter.
Nifty and Bank Nifty Support and Resistance level
Nifty :-
Resistance 24,860, 25,010, and 25,095
Support based 24,785, 24,730, and 24,645
BankNifty:
Resistance 51,510, 52,360, and 52,800
Support based 51,205, 50,930, and 50,490
Index Future levels
Nifty Futures Sell below 24900 The suggested targets for this are 24,700 and 24600 with the stop loss set at 25,250.
Bank Nifty Future sell below 51,300 index is expected to see down side levels of 51000 and 50,800 and level 51,550 will act as a stop loss.
Momentum Pick: DLF
Buy at ₹870| Target price: ₹970 |Stop Loss:₹ 816
DLF Ltd, incorporated in 1946, is a leading real estate development company in India. It is involved in developing residential, commercial, and retail properties, making it the largest real estate developer in the country. DLF’s operations span across 15 states and 24 cities. Some of its popular brands include DLF Promenade, DLF Emporio, DLF Place, and DLF Cyber City
The company has been recognized for its sustainability initiatives and has received awards for its green buildings and energy efficiency efforts. In Q1 2024-2025, DLF Ltd’s revenue increased by 13.68% compared to the same period last year, reaching ₹1,729.82 crore. The company’s net profit rose by 22.51% year-on-year to ₹645.61 crore. Additionally, DLF Ltd’s net profit margin improved by 7.77% from the same period last year, reaching 37.32%
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
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