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Stock Market Daily Updates: 28 July 2021

Nifty Future has Downside support levels are at 15707 – 15676 Point; below 15676 Point, other support levels are at 15636 - 15606 Point.

Photo Credit :

1451463661_zvEpXP_fund-market1.jpg

Dear Trader…

Some support came in as the government's total tax collection in the April-June quarter grew about 86 per cent to more than Rs 5.57 lakh crore. 

FII-foreign institutional investors, foreign portfolio investors-FPIs, on Tuesday saw a net sold of Rs 1459.08 crore in the cash segment. A total of Rs 9981.50 crore was sold against a total purchase of Rs 8522.42 crore. DII-domestic institutional investors today saw a net purchase of Rs 729.96 crore in the cash segment. A total of Rs 5602.50 crore was sold against a total purchase of Rs 6332.46 crore.

Today session is likely to be cautious amid weak global cues. There will be some volatility in the run-up to Thursday's F&O expiry.

Ø INDEX MOVEMENT - 28.07.2021

Ø Nifty Future closed @ 15734 as on 27.07.2021..!!

Dear Traders,

Nifty Future has Downside support levels are at 15707 – 15676 Point; below 15676 Point, other support levels are at 15636 - 15606 Point.

I am positive for the next bullish trend only above @ 15808 Point but be with the trend. Let the market decide further moves.

Ø Bank Nifty Future closed @ 34817 as on 27.07.2021..!!

Bank Nifty Future has resistance at 34888 – 35008 Point; above which other resistance levels are at 35188 – 35303 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 35770 – 34676 Point; below 34676 Point, other support levels are at 34606 – 34474 Point.

I am positive for the next bullish trend only above @ 35008 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 @ 35008 Point, again then the upper side target is quite high and it may touch @ 35303 Point in the short term...!!


Ø Trading Idea for the derivative stocks….

Ø RELIANCE IND. @ Positive Trend @ Rs 2017 with Stoploss of Rs @ 2002 for the Target near @ Rs 2073 - 2080 in short term…..!!!


Ø LARSEN LTD @ Positive Trend @ Rs 1506 with Stoploss of Rs @ 1544 for the Target near @ Rs 1603 – 1613 in short term…..!!!


Ø TECHM @ Positive Trend @ Rs 1108 with Stoploss of Rs @ 1093 for the Target near @ Rs 1137 – 1150 in short term…..!!!


Ø HCL TECHNO. @ Positive Trend @ Rs 966 with Stoploss of Rs @ 959 for the Target near @ Rs 1004 – 1014 in short term…..!!!


Ø INDIGO @ Negative Trend @ Rs 1737 with Stop loss of Rs @ 1744 for the Target near @ Rs 1688 – 1680 in short term...!!!


Ø BATA INDIA @ Negative Trend @ Rs 1606 with Stop loss of Rs @ 1616 for the Target near @ Rs 1566 - 1550 in short term...!!!


Ø TATA STEEL @ Negative Trend @ Rs 1360 with Stop loss of Rs @ 1367 for the Target near @ Rs 1318 - 1308 in short term...!!!


Ø AURO PHARMA @ Negative Trend @ Rs 922 with Stop loss of Rs @ 930 for the Target near @ Rs 896 – 880 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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