Yesterday’s Pick
NIFTY AUG 25000CE RS. 2,250/-( 5 Lot)
BANKNIFTY 4SEP 51000CE RS. 4,500/-( 5 Lot)
RELIANCE SEP FUTURE RS. 5,000/-( Per Lot)
Nifty’s Technical View
The Nifty 50 stock index had a strong day on August 29th, closing at a new all-time high of 25,199. This happened despite a lot of price swings throughout the day. Technically Nifty 50 is in a strong uptrend. It has recently broken out of a period of consolidation, and its Relative Strength Index (RSI) is showing a bullish crossover, which indicates that the price is likely to continue rising. In the short term, the Nifty 50 is expected to reach 25,300. However, if it falls below 25,000, it could be a sign that the uptrend is losing momentum.
India Vix :
The market’s volatility decreased after two days of rising prices, remaining below the 14 level, which is considered bullish. The India VIX, which measures market fear, quite decreased by 1.16 percent to 13.78 from 13.95, staying below all key moving averages.
FII And DII Data :
Foreign institutional investors (FIIs/FPIs) Buy Indian stocks valued at Rs 3259.56 crore, whereas domestic institutional investors (DIIs) Bought Indian stocks worth Rs 2690.85 crore during the same period.
Nifty PCR Data :
The Nifty Put-Call ratio (PCR) increased to 1.28 on August 29 from 1.21 on August 28. A PCR greater than 1 suggests that traders are buying more call options than put options, which generally indicates a bullish market sentiment. Conversely, a PCR below 0.7 suggests a bearish market sentiment.
Stocks in news
CDSL
Central Depository Services (India) secured approval from the Securities and Exchange Board of India (SEBI) for the appointment of Nehal Vora as the company’s MD & CEO.
LIC
Tax authorities have slapped a demand notice of about Rs 605.58 crore on LIC for short payment of Goods and Services Tax (GST) for the financial year 2019-20.
Nifty and Bank Nifty Support and Resistance level
NIFTYÂ :-
Resistance 25,130, 25,200, and 25,400
Support based  25,070, 24,950, and 24,850
BankNifty :–
Resistance 51,270, 51,400, and 51,500
Support based 51,080, 50,950, and 50,850
Index Future levels
Nifty Futures SEP Buy At 25,300 The suggested targets for this are 25,400 and 25,600 with the stop loss set at 25,050.
Bank Nifty SEP Buy At 51,530 index is expected to upside levels of 51,800 and 52,150 and level 51,220 will act as a stop loss.
Momentum Pick: VIP INDUSTRIES LTD
Buy above ₹ 495 | Target price: ₹ 600 |Stop Loss:₹ 460
V.I.P. Industries Ltd. engages in the manufacturing and marketing of luggage, bags, and accessories. The firm’s product includes hard and soft luggage-strolleys, suitcases, duffle bags, overnight travel solutions, executive cases, backpacks, and travel accessories. Its brands include VIP, Carlton, Caprese, Footloose, Alfa, Aristocrat, and Skybags. The company was founded in 1971 and is headquartered in Mumbai, India. The company offers a range of products in hard luggage and soft luggage segments including school bags, trolleys, backpacks, suitcases, executive cases, duffels, overnight travel solutions, and handbags through brands such as VIP, Skybags, Carlton, Aristocrat, and Caprese.
In FY24, the company launched 51 new products in the premium/mass premium segment, 26 new products in the value segment, and 174 for the backpack category. The company is Asia’s leading and the world’s 2nd-largest manufacturer and retailer of luggage, backpacks, and handbags. It is an established leader in the organized and oligopolistic Indian luggage market with a 38% market share.
Happy Trading!
Commodity Samachar
Learn and Trade with Ease
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