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Stock Market Daily Updates: 26 Aug 2021

The market is not showing any solid direction at present and amid volatility, Volatility is expected to remain high because today monthly F&O expiry contracts in the Indian stock market. So much caution will be required to follow the index based boom.

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Dear Trader…

On the third day of the week, the Indian stock market started trading with a bullish trend. Funds, high net worth investors, giants and experts traded in stock specific trend and increased the price fluctuations of many stocks. Indian markers are likely to open positive but it will tracking profit booking pressure in global markets and a slow start to Asian peers.

FII-foreign institutional investors, foreign portfolio investors-FPIs, on Friday saw a net sold of Rs 2287.03 crore in the cash segment. A total of Rs 12563.60 crore was sold against a total purchase of Rs 10276.57 crore. DII-domestic institutional investors today saw a net purchase of Rs 119.30 crore in the cash segment. A total of Rs 6407.62 crore was sold against a total purchase of Rs 6526.92 crore.

The market is not showing any solid direction at present and amid volatility, Volatility is expected to remain high because today monthly F&O expiry contracts in the Indian stock market. So much caution will be required to follow the index based boom. However, we believe the overall structure in the index remain positive as it has recently witnessed a faster retracement of the last falling segment as four sessions decline was completely retraced in just two sessions. The move by local stock exchanges is likely to be based on companies' second-quarter results and global developments.


Ø INDEX MOVEMENT - 26.08.2021


  • Nifty Future closed @ 16632 as on 25.08.2021..!!

Dear Traders,

Nifty Future has resistance at 16676 – 16707 Point; above which other resistance levels are at 16717 - 16737 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 16606 – 16577 Point; below16577 Point, other support levels are at 16535 – 16505 Point.

I am positive for the next bullish trend only above @ 16707 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 @ 16707 Point, again then the upper side target is quite high and it may touch @ 16717 Point in the short term...!!!


  • Bank Nifty Future closed @ 35617 as on 25.08.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 35676 – 35737 Point; above which other resistance levels are at 35808 – 35939 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 35505 – 35434 Point; below35434 Point, other support levels are at 35373 – 35272 Point.

I am positive for the next bullish trend only above @ 35939 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 @ 35939 Point, again then the upper side target is quite high and it may touch @ 36006 Point in the short term...!!


Ø Trading Idea for the derivative stocks….

  • TITAN LTD @ Positive Trend @ Rs 1808 with Stoploss of Rs @ 1787 for the Target near @ Rs 1847 - 1860 in short term…..!!!
  • KOTAK BANK @ Positive Trend @ Rs 1677 with Stoploss of Rs @ 1660 for the Target near @ Rs 1713 – 1720 in short term…..!!!
  • GRASIM IND. @ Positive Trend @ Rs 1430 with Stoploss of Rs @ 1417 for the Target near @ Rs 1473 – 1480 in short term…..!!!
  • AXIS BANK @ Positive Trend @ Rs 727 with Stoploss of Rs @ 713 for the Target near @ Rs 747 – 755 in short term…..!!!
  • HDFC BANK @ Negative Trend @ Rs 1577 with Stop loss of Rs @ 1590 for the Target near @ Rs 1537 – 1520 in short term...!!!
  • VOLTAS LTD @ Negative Trend @ Rs 970 with Stop loss of Rs @ 984 for the Target near @ Rs 933 - 919 in short term...!!!
  • SUN PHARMA @ Negative Trend @ Rs 787 with Stop loss of Rs @ 793 for the Target near @ Rs 744 - 730 in short term...!!!
  • JSW STEEL @ Negative Trend @ Rs 696with Stop loss of Rs @ 707 for the Target near @ Rs 744 – 730 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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