Profit Booking Is Seen At Higher Levels In Nifty, Investors Are Advised...

  • Market Overview

Profit Booking (NASDAQ: BKNG ) Is Seen At Higher Levels In Nifty , Investors Are Advised To Stay Cautious While Making Fresh Buy

Stock Market Today – 17th August 2020

Some sort of Profit booking has been observed in Indian market in the last trading session as Nifty came down from 11366 to make a low of 11111. The Small Cap Index also corrected more than 100 points from its day high of 5475 to make a low of 5328. If Nifty breaks its previous day low of 11111 and trades below that level, then the next target of the Index will be 10882, which is the next weekly support of Index. Investors should stay cautious while making fresh buy position in the market and should concentrate on stocks with good top line and bottom line growth in June 20 Results compared to those of June 19.

Nifty opened at 11248 today, on its previous trading day the index had made a high of 11366 and closed at 11178. Indian Cash Market Index, Nifty Small Cap opened at 5431 today, which is above its previous trading day’s close of 5369. The major players of the market FII & PRO together hold a net position of (-) 107654 contracts in Index Option as on 14th August 2020. Markets are trading with “Sell-Bias” but can switch to “Sell” or “Sell Bias” quickly.

To get in-depth knowledge and details about Nifty Open Interest, subscribe to our app Value Stocks or the website www.valuestocks.in.

On the Global front, the US Index, S&P 500 (futures) opened at 3370 today. Hong Kong Benchmark Index, Hang Seng opened at 25265 today, more than 80 points above its previous trading day’s close of 25183. The Japan Benchmark Index, Nikkei opened at 23186 today, on its previous trading day the Index had made a day high of 23338 and closed at 23289.

US Data

The US 10 Year T-Note is trading at 139.20. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 92.998.

Major Sector Performance as on last week
Major Sector Performance as on last week

Minor Sector Performance as on last week
Minor Sector Performance as on last week

Large Cap Gainers and Losers as on last week
Large Cap Gainers and Losers as on last week

Mid Cap Gainers and Losers as on last week
Mid Cap Gainers and Losers as on last week

Small Cap Gainers and Losers as on last week
Small Cap Gainers and Losers as on last week

Result Today
Result Today
DISCLAIMER:

There is no guarantee of profits or no exceptions from losses. The investment advice provided is solely the personal views of the research team. You are advised to rely on your judgment while investing/ 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.

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