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Stock Market Daily Updates: 2 Sep 2021

Bank Nifty Future has resistance at 36707 – 36737 Point; above which other resistance levels are at 36808 – 36888 Point with highly Volatile Trend,

Photo Credit :

1575809288_yq1JW0_BSE_India.jpg

Dear Trader…

FII and FPIs, on Wednesday saw a net purchase of Rs 666.66 crore in the cash segment. A total of Rs 8717.66 crore was sold against a total purchase of Rs 9384.32 crore. Domestic institutional investors saw a net sold of Rs 1287.87 crore in the cash segment. A total of Rs 6785.94 crore was sold against a total purchase of Rs 5498.07 crore.

Ø INDEX MOVEMENT – 02.09.2021

Ø Nifty Future closed @ 17096 as on 01.09.2021..!!

I am positive for the next bullish trend only above @ 17173 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 @ 17173 Point, again then the upper side target is quite high and it may touch @ 17202 Point in the short term...!!!

Ø Bank Nifty Future closed @ 36699 as on 01.09.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 36707 – 36737 Point; above which other resistance levels are at 36808 – 36888 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 36606 – 36530 Point; below 36530 Point, other support levels are at 36474 – 36404 Point.

If Bank Nifty Future crosses @ 36888 Point, again then the upper side target is quite high and it may touch @ 37007 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

Ø INDIGO @ Positive Trend @ Rs 1900 with Stoploss of Rs @ 1880 for the Target near @ Rs 1933 - 1947 in short term…..!!!

Ø INFOSYS LTD @ Positive Trend @ Rs 1660 with Stoploss of Rs @ 1646 for the Target near @ Rs 1707 – 1720 in short term…..!!!

Ø ESCORTS LTD @ Positive Trend @ Rs 1333 with Stoploss of Rs @ 1320 for the Target near @ Rs 1373 – 1380 in short term…..!!!

Ø RAMCO CEMENT @ Positive Trend @ Rs 1003 with Stoploss of Rs @ 993 for the Target near @ Rs 1033 – 1040 in short term…..!!!

Ø RELIANCE INDUSTRIES @ Negative Trend @ Rs 2308 with Stop loss of Rs @ 2323 for the Target near @ Rs 2257 – 2240 in short term...!!!

Ø BATA INDIA @ Negative Trend @ Rs 1808 with Stop loss of Rs @ 1818 for the Target near @ Rs 1760 - 1747 in short term...!!!

Ø GRASIM INDUSTRIES @ Negative Trend @ Rs 1515 with Stop loss of Rs @ 1525 for the Target near @ Rs 1477 - 1464 in short term...!!!

Ø M & M @ Negative Trend @ Rs 787 with Stop loss of Rs @ 808 for the Target near @ Rs 760 – 747 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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