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Stock Market Daily Updates: 9 Sep 2021

FII and FPIs, on Wednesday saw a net sold of Rs 802.51 crore in the cash segment. A total of Rs 9574.82 crore was sold against a total purchase of Rs 8772.31 crore.

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Dear Trader…

On the third day of the week, The benchmark opened on a positive note however profit-taking at higher levels capped the upside as the session progressed. The expected profit booking in the Indian stock market has seen decline on the overall global market sentiment. Corona's transition is again spreading alarmingly in various states of India including Maharashtra and Kerala the slump in the Indian economy.

FII and FPIs, on Wednesday saw a net sold of Rs 802.51 crore in the cash segment. A total of Rs 9574.82 crore was sold against a total purchase of Rs 8772.31 crore. Domestic institutional investors saw a net purchase of Rs 0.60 crore in the cash segment. A total of Rs 5390.31 crore was sold against a total purchase of Rs 5390.91 crore.

Ø INDEX MOVEMENT – 09.09.2021

Ø Nifty Future closed @ 17370 as on 08.09.2021..!!

Dear Traders,

I am positive for the next bullish trend only above @ 17434 Point but be with the trend. Let the market decide further moves.

Ø Bank Nifty Future closed @ 36881 as on 08.09.2021..!!

Ø Trading Idea for the derivative stocks….

Ø GRASIM IND. @ Positive Trend @ Rs 1570 with Stoploss of Rs @ 1547 for the Target near @ Rs 1603 - 1610 in short term…..!!!

Ø TATA STEEL @ Positive Trend @ Rs 1414 with Stoploss of Rs @ 1440 for the Target near @ Rs 1453 – 1460 in short term…..!!!

Ø INDUSIND BANK @ Positive Trend @ Rs 983 with Stoploss of Rs @ 970 for the Target near @ Rs 1022 – 1030 in short term…..!!!

Ø BERGER PAINT @ Positive Trend @ Rs 818 with Stoploss of Rs @ 808 for the Target near @ Rs 848 – 860 in short term…..!!!

Ø TECH MAHINDRA @ Negative Trend @ Rs 1460 with Stop loss of Rs @ 1474 for the Target near @ Rs 1417 – 1407 in short term...!!!

Ø VOLTAS LTD @ Negative Trend @ Rs 1233 with Stop loss of Rs @ 1247 for the Target near @ Rs 1188 - 1173 in short term...!!!

Ø TATA CHEMICAL @ Negative Trend @ Rs 888 with Stop loss of Rs @ 898 for the Target near @ Rs 818 - 808 in short term...!!!

Ø SUN PHARMA @ Negative Trend @ Rs 808 with Stop loss of Rs @ 818 for the Target near @ Rs 764 – 750 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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