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Stock Market Daily Updates: 25 Aug 2021

I am positive for the next bullish trend only above @ 16676 Point but be with the trend. Let the market decide further moves.

Photo Credit :

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FII and FPIs, on Tuesday saw a net sold of Rs 1644.91 crore in the cash segment. A total of Rs 9016.63 crore was sold against a total purchase of Rs 7371.72 crore. Domestic institutional investors saw a net purchase of Rs 2380.05 crore in the cash segment. A total of Rs 5038.15 crore was sold against a total purchase of Rs 7418.20 crore.

Technically, the important key resistances are placed in Nifty future are at 16630 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 16676 – 16707 levels. Immediate support is placed at 16588 – 16535 levels.

Ø INDEX MOVEMENT – 25.08.2021

  • Nifty Future closed @ 16620 as on 24.08.2021

Dear Traders,

Nifty Future has resistance at 16636 – 16676 Point; above which other resistance levels are at 16707 - 16717 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 16588 – 16560 Point; below16560 Point, other support levels are at 16535 – 16505 Point.

I am positive for the next bullish trend only above @ 16676 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 @ 16676 Point, again then the upper side target is quite high and it may touch @ 16707 Point in the short term.

  • Bank Nifty Future closed @ 35719 as on 24.08.2021

Dear Traders,

Bank Nifty Future has resistance at 35777 – 35838 Point; above which other resistance levels are at 35909 – 36006 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 35636 – 35575 Point; below35575 Point, other support levels are at 35434 – 35373 Point.

I am positive for the next bullish trend only above @ 36006 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 @ 36006 Point, again then the upper side target is quite high and it may touch @ 36060 Point in the short term.

Ø Trading Idea for the derivative stocks

  • KOTAK BANK @ Positive Trend @ Rs 1686 with Stoploss of Rs @ 1670 for the Target near @ Rs 1723 - 1730 in short term
  • ADANI ENT. @ Positive Trend @ Rs 1404 with Stoploss of Rs @ 1388 for the Target near @ Rs 1460 – 1474 in short term
  • RAMCO CEMENT @ Positive Trend @ Rs 944 with Stoploss of Rs @ 930 for the Target near @ Rs 977 – 990 in short term
  • BHARAT FORGE @ Positive Trend @ Rs 727 with Stoploss of Rs @ 720 for the Target near @ Rs 757 – 770 in short term
  • BATA INDIA @ Negative Trend @ Rs 1733 with Stop loss of Rs @ 1740 for the Target near @ Rs 1696 – 1690 in short term.
  • ESCORTS LTD @ Negative Trend @ Rs 1337 with Stop loss of Rs @ 1344 for the Target near @ Rs 1288 - 1273 in short term.
  • TATA CHEMICAL @ Negative Trend @ Rs 848 with Stop loss of Rs @ 855 for the Target near @ Rs 818 - 808 in short term.
  • BERGER PAINT @ Negative Trend @ Rs 808with Stop loss of Rs @ 818 for the Target near @ Rs 777 – 760 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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