2 mins Nifty Wrap

Technology 01 July 2021 4:44:PM

nifty-wrap-08042021 nifty-wrap-08042021

NIFTY falls for the 4th session in a line. 

Highlights

  • NIFTY opened slightly above the 20 Day SMA but failed to sustain at higher levels and moved lower for the rest of the session. The INDEX finally ended the session with a loss of (-0.26%) 
  • SENSEX can be seen following the NIFTY and moving lower, today the Sensex ended the session with a loss of (-0.24%). 
  • The BANK NIFTY too moved in sync with the benchmark index and moved lower and ended the session with a loss of (-0.25%) 
  • The RSI seems to be moving lower towards the 50 mark, indicating that the bears are in control of the trend. 
  • On the sectoral index front, 7 out of 11 sectoral indices ended the session in the red lead by NIFTY IT, FINANCIAL SERVICES and NIFTY PVT BANK which ended the session with a loss of (- 0.57%), (-0.41%) and (-0.34%) respectively 
  • The NIFTY PHARMA, NIFTY AUTO and NIFTY FMCG were the sectoral index that ended the session in the green with a gain of (0.93%), (0.82%) and (0.39%) respectively. 
  • BAJAJFINSV, BRITANNIA and INFY were the laggards and ended the session in the red with a loss of (-2.23%), (-1.44%) and (-1.19%) respectively. 
  • DRREDDY, HINDALCO and BAJAJAUTO were the outperformers and ended the session with a gain of (2.75%), (2.07%) and (1.74%) respectively. 

Technical 

  • NIFTY SPOT: 15680 (-0.26%) 
  • DYNAMIC PARAMETER: NIFTY sustains below the 20 Day SMA. 
  • TRADING ZONE: • Resistance: 15755 (Daily high) / 15793 (Multiple touch point level) Support: 15667 (Daily low) / 15618 (Multiple touch point level) 
  • BROADER MARKETS: MIDCAP 26882.62 (-0.33%), SMALLCAP 9798.40 (0.66%), MIXED, Advance-Decline: 999/927 
  • STRATEGY: Bullish till above 15431 (Previous swing low). 

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