11640 Is A Crucial Resistance For Nifty...

Published 16-07-2019, 10:48 am
DX
-
NSEI
-
DSTV
-
INFY
-
PIRA
-
SUN
-

11640 Is A Crucial Resistance For Nifty, Which Can Be Breached Only If Cash Market Shows Buying

Nifty has been trading in a narrow range of 200 points from last 5 trading sessions from 11635 to 11450. Recently Nifty fell 4.30% from its high of 11982 on 5th Jul 2019 and made low of 11460 on 9th Jul 2019, thereafter Nifty has been trading in a range of 200 points.

Cash Market benchmark Smallcap Index has been trading near its 4 month low of 6000 and its currently trading at 6040. No significant buying is seen in the cash market until now.
Nifty is likely to take resistance of its two days the high level of 11640. If the cash market Index, Small Cap participates in buy along with Nifty, the Index can move further.

Sector Analysis:

The markets showed a little strength towards the end of the trading session yet closed with a red candle. The sectors played along with the weakness, and there were no major movements in any of the major or minor sectors. Major small-cap stocks which showed upward movements are Seamec (2.49%) with the Energy Oil and Gas (0.30%) sector being the topper of its list, Caplin Point Laboratories (1.96%) with Pharma (0.16%) sector being the second-highest gainer of the list. Other gainers include Infosys (NS:INFY) (7.24%), Piramal Enterprises (NS:PIRA) (6.81%), Sun Pharma (NS:SUN) Advanced Research Company (18.94%), Dish TV India (NS:DSTV) (5.79%).

US Data

The US 10 Year T-Note is trading at 127.21. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 96.578.

Open Interest Analysis:

FII & PRO are the major players in the Derivatives segment and have the upper hand in the market, and their position provides direction to the market. In the June month expiry, they had started with the position of (-47429) contracts in Index option (both FII & PRO combined) when Nifty spot was trading at 11842. As on last trading day, they have a net position of (-135613). Thus they have sold 88184 contracts in the current July expiry:

Index Options

Index Options

Cash Market Data

In the last 10 days, FII and DII in combined have bought stocks in cash segment worth Rs.628.79 Crores.
Cash Market Data

Sector performance as on 15th July

Sector performance as on 15th July

Sector-wise Small Cap gainers as on 15th July

Sector wise Small Cap gainers as on 15th July

Large Cap Gainers & Losers as on 15th July

Large Cap Gainers & Losers as on 15th July

Mid Cap Gainers & Losers as on 15th July

Mid Cap Gainers & Losers as on 15th July

DISCLAIMER:

There is no guarantee of profits or no exceptions from losses. The investment advice provided are solely the personal views of the research team. You are advised to rely on your judgment while making investment / Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. You should read and understand the Risk Disclosure Documents before trading/Investing.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.