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Stock Market Daily Updates: 15 Sep 2021

The market may show a decline in the coming days, but apart from that the market structure is made up of bulls.

Photo Credit :

1595910044_uDKqsY_2020_07_28T041635Z_1_LYNXNPEG6R08J_RTROPTP_4_GLOBAL_MARKETS.JPG

Dear Trader…

The market continued its upward trend with Supportive global cues led to a positive start which was further fuelled by the buying in index majors. Consequently, markets touched a high largely led by healthy buying in Utilities, CDGS, Auto and Teck counters except Consumer Durables, ended in the green. Market has been moving in a consolidative manner from the last few sessions and not emerging in a clear direction initially, upbeat global cues triggered a firm start in the benchmark but lack of follow-up buying and profit-taking in the index majors capped the upside.

FII and FPIs, on Tuesday saw a net purchase of Rs 1649.60 crore in the cash segment. A total of Rs 9106.22 crore was sold against a total purchase of Rs 10755.82 crore. Domestic institutional investors saw a net sold of Rs 310.31 crore in the cash segment. A total of Rs 5923.62 crore was sold against a total purchase of Rs 5613.31 crore.

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 – 15.09.2021


  • Nifty Future closed @ 17384 as on 14.09.2021..!!

Dear Traders,

Nifty Future has resistance at 17404 – 17434 Point; above which other resistance levels are at 17474 - 17505 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 17330 – 17303 Point; below17303 Point, other support levels are at 17272 – 17232 Point.

I am positive for the next bullish trend only above @ 17474 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 @ 17474 Point, again then the upper side target is quite high and it may touch @ 17505 Point in the short term...!!!


  • Bank Nifty Future closed @ 36714 as on 14.09.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 36838 – 36909 Point; above which other resistance levels are at 36970 – 37007 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 36636 – 36575 Point; below36575 Point, other support levels are at 36474 – 36303 Point.

I am positive for the next bullish trend only above @ 37007 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 @ 37007 Point, again then the upper side target is quite high and it may touch @ 37077 Point in the short term...!!


Ø Trading Idea for the derivative stocks….

  • RELIANCE IND. @ Positive Trend @ Rs 2360 with Stoploss of Rs @ 2344 for the Target near @ Rs 2393 - 2404 in short term…..!!!
  • INDIGO @ Positive Trend @ Rs 1919 with Stoploss of Rs @ 1909 for the Target near @ Rs 1960 – 1974 in short term…..!!!
  • INFOSYS LTD @ Positive Trend @ Rs 1673 with Stoploss of Rs @ 1660 for the Target near @ Rs 1703 – 1713 in short term…..!!!
  • AURO PHARMA @ Positive Trend @ Rs 733 with Stoploss of Rs @ 723 for the Target near @ Rs 763 – 770 in short term…..!!!
  • HAVELLS INDIA @ Negative Trend @ Rs 1480 with Stop loss of Rs @ 1494 for the Target near @ Rs 1447 – 1430 in short term...!!!
  • CIPLA LTD @ Negative Trend @ Rs 973 with Stop loss of Rs @ 980 for the Target near @ Rs 937 - 928 in short term...!!!
  • BERGER PAINT @ Negative Trend @ Rs 858 with Stop loss of Rs @ 868 for the Target near @ Rs 823 - 808 in short term...!!!
  • SUN PHARMA @ Negative Trend @ Rs 803 with Stop loss of Rs @ 813 for the Target near @ Rs 770 – 757 in short term...!!!

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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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