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Stock Market Daily Updates: 1 Sep 2021

The market is booming due to the success of vaccines and the steady influx of FIIs, but there have been corrections in the bullish phase in the past as well. This time too, along with the positive factors, the bullish trade in stocks is likely to ease, so caution will be required.

Photo Credit :

1575809288_yq1JW0_BSE_India.jpg

Dear Trader…

On the second day of the week, the Indian stock market started trading with a bullish trend. As expected, the market continued its upward trend as supportive global cues led to a positive start which was further fuelled by the buying in index majors. Consequently, markets touched a new high largely led by healthy buying in Telecom, IT and Tech counters.

FII and FPIs, on Tuesday saw a net purchase of Rs 3881.16 crore in the cash segment. A total of Rs 18951.77 crore was sold against a total purchase of Rs 22832.93 crore. Domestic institutional investors saw a net sold of Rs 1872.40 crore in the cash segment. A total of Rs 7864.24 crore was sold against a total purchase of Rs 5991.84 crore.

The Indian stock market is trading at a high valuation. In addition currently, stocks based bullish trend on the local economy. The market may show a decline in the coming days, but apart from that the market structure is made up of bulls. The market is booming due to the success of vaccines and the steady influx of FIIs, but there have been corrections in the bullish phase in the past as well. This time too, along with the positive factors, the bullish trade in stocks is likely to ease, so caution will be required.

  • INDEX MOVEMENT – 01.09.2021
  • Nifty Future closed @ 17122 as on 31.08.2021..!!

Dear Traders,

Nifty Future has resistance at 17177 – 17202 Point; above which other resistance levels are at 17217 - 17230 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 17077 – 17007 Point; below17007 Point, other support levels are at 16933 – 16888 Point.

I am positive for the next bullish trend only above @ 17202 Point but be with the trend. Let the market decide further moves. 

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Nifty Future crosses @ 17202 Point, again then the upper side target is quite high and it may touch @ 17217 Point in the short term.

  • Bank Nifty Future closed @ 36513 as on 31.08.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 36577 – 36606 Point; above which other resistance levels are at 36676 – 36808 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 36373 – 36303 Point; below36303 Point, other support levels are at 36160 – 36006 Point.

I am positive for the next bullish trend only above @ 36676 Point but be with the trend. Let the market decide further moves. 

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Bank Nifty Future crosses @ 36676 Point, again then the upper side target is quite high and it may touch @ 36808 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

  • HERO MOTOCORP @ Positive Trend @ Rs 2707 with Stoploss of Rs @ 2686 for the Target near @ Rs 2774 - 2790 in short term…..!!!
  • LARSEN & TOUBRO @ Positive Trend @ Rs 1644 with Stoploss of Rs @ 1630 for the Target near @ Rs 1688 – 1707 in short term…..!!!
  • ESCORTS LTD @ Positive Trend @ Rs 1327 with Stoploss of Rs @ 1308 for the Target near @ Rs 1373 – 1380 in short term…..!!!
  • RAMCO CEMENT @ Positive Trend @ Rs 990 with Stoploss of Rs @ 980 for the Target near @ Rs 1024 – 1030 in short term…..!!!
  • RELIANCE INDUSTRIES @ Negative Trend @ Rs 2290 with Stop loss of Rs @ 2308 for the Target near @ Rs 2247 – 2230 in short term...!!!
  • GRASIM INDUSTRIES @ Negative Trend @ Rs 1533 with Stop loss of Rs @ 1540 for the Target near @ Rs 1488 - 1474 in short term...!!!
  • BERGER PAINT @ Negative Trend @ Rs 838 with Stop loss of Rs @ 848 for the Target near @ Rs 802 - 787 in short term...!!!
  • BHARAT FORGE @ Negative Trend @ Rs 787with Stop loss of Rs @ 797 for the Target near @ Rs 744 – 730 in short term...!!!

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Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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