Nifty 10029/Sensex 37311/ Bank Nifty 28019
37 Advances / 13 Declines/ 1 Unchanged
On Wednesday trading session, After yesterday's overwhelming auction, Indian bourses bounced back and end on a higher note. Key records made a positive beginning of the day, as India's retail expansion dependent on Consumer Price Index (CPI) facilitated to 3.15% in the long stretch of July 2019, on the back of relaxing fuel and light costs, even as swelling in the general sustenance bin climbed. CPI was 3.18% in June 2019, while it remained at 4.17% in July 2018. Including some solace, Reserve Bank of India (RBI) said that bank credit to enlisted NBFCs (other than MFIs) for on-loaning to horticulture, smaller scale and little endeavors (MSEs) and lodging part up as far as possible will be delegated need division loaning, in an offer to lift credit to the penniless section of borrowers.
FII’s Activity 14th-August-2019
The FIIs and DII data as per Wednesday
In FII segment, the buy value was of Rs 6859 while sell value Rs 5245 and Net buyer of 1614 crore.
In DII segment, the buy value was of Rs 4385 while sell value Rs 2765 and Net buyer of Rs 1619 crore.
Nifty Levels
After the heavy sell-off, Nifty took recovery from lower levels and closed at higher levels on Wednesday trading session.
Now, what to expect?
Nifty future has fresh hurdle at 11000 and support at 10850.
Fresh upside rally in Nifty future looks only above 11000 mark.
Break and sustain above 11000 will take it to 11100-11200 mark else it could test it's the support of 10850.
Break and close below 10850 will take it to 10800-10750 mark.
Trade with levels only.
Bank Nifty
Bank Nifty also recovered from lower levels and closed positive on Wednesday trading session.
Now, what to expect?
Bank Nifty has hurdle at 28100 and support at 27800.
Break and close above 28100 will take it to 28300- 28500 mark else it could test its the support of 27800.
Break and sustain below 27800 will see panic till 27600--27500.
Trade with levels only
TOP PICK :-UPL LTD,( 16th August 2019)
Buy UPL Ltd around 528 with stop loss below 525. Target 535--540.
More will update soon!!
