Market Analysis of 24th September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: The markets had a gap up opening but could not sustain at the new highs. 30 of the Nifty50 stocks witnessed selling pressure and closed in the red. Meanwhile, the Sensex closed above the 60,000-mark for the first time.
Data Analysis: In the cash market trading data, we find that while FIIs were net buyers, DIIs were net sellers. Taking a 3-day average, we can see that PRO has turned bullish in derivatives segment. We can observe that FIIs have reduced their positions in Index Futures and Index Calls and added to their positions in Index Puts.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX is at 16.9225.To await speech from Fed’s Jerome Powell about tapering plan. This is going to affect global markets.
Trade Recommen. for 27th Sep – 1st Oct 2021:
1. Adani Transmission (1542.15): The expectancy is the bulls to overpower the bears in coming sessions.
2. Bajaj Holding (4890.65): Overbought conditions lead to correction.
3. Coal India (166.10): New entrant. High volume moves seen. RSI > 60. Correction good opportunity to enter.
4. Indusbank (1163.05): HOLD.
5. Industower (317.65): HOLD. Price rise by 13.83% (Overbought conditions)
6. ITC (238.45): Down by -1.67%. Possible time to exit.
7. Indigo (2138.70): HOLD. No new transactions advised.
8. SBI Life (1222.05): HOLD. Price rise by 0.31%
a) As calls are valid for the period 27th September to 1st October 2021
b) Any stocks added should be assumed to be included in the watchlist of that current week and those removed should excluded from it.
Data Analysis: In the cash market trading data, we find that while FIIs were net buyers, DIIs were net sellers. Taking a 3-day average, we can see that PRO has turned bullish in derivatives segment. We can observe that FIIs have reduced their positions in Index Futures and Index Calls and added to their positions in Index Puts.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX is at 16.9225.To await speech from Fed’s Jerome Powell about tapering plan. This is going to affect global markets.
Trade Recommen. for 27th Sep – 1st Oct 2021:
1. Adani Transmission (1542.15): The expectancy is the bulls to overpower the bears in coming sessions.
2. Bajaj Holding (4890.65): Overbought conditions lead to correction.
3. Coal India (166.10): New entrant. High volume moves seen. RSI > 60. Correction good opportunity to enter.
4. Indusbank (1163.05): HOLD.
5. Industower (317.65): HOLD. Price rise by 13.83% (Overbought conditions)
6. ITC (238.45): Down by -1.67%. Possible time to exit.
7. Indigo (2138.70): HOLD. No new transactions advised.
8. SBI Life (1222.05): HOLD. Price rise by 0.31%
a) As calls are valid for the period 27th September to 1st October 2021
b) Any stocks added should be assumed to be included in the watchlist of that current week and those removed should excluded from it.