Market Analysis of 24th August 2021 and Trade Recommendations fo
Market Recap 24 August 2021:
Views On Nifty: Nifty opened gapped up in the morning and after a brief correction continued its upwards journey. The bulls have strong grip on the market currently. NIFTY closed with a gain of 128.15(0.78%). There were 35 advances in NIFTY. Nifty Metal being the highest gainer with a gain of 2.90%.
Views on Bank Nifty: Bank Nifty never showed real weakness during the day and its continents contributed to rise in the indices today. Currently at support (35679.15).
Data Analysis : In the cash market trading data, we find that both FIIs were net sellers while DIIs are net buyers. In the derivative segment FIIs are neutral while DIIs continue to hold bearish positions.
Looking at weaking India Vix and increasing SGX NIFTY and Dow Futures, I feel we may see more upside in the market in the coming days especially on Wednesday.
Stock Recommendations for 25th August 2021:
1. Adani Green: Bullish. Hold Buy Positions.
2. Apollo Hospital: Bullish Reversal happened. One can hold long positions.
3. Auropharma: Wait and Watch. Lookout is still Bearish. Hold Shorts.
4. Eicher Motors: Bearish. Take short below 2523.
5. Lupin: Bearish. Take short positions after reversal from 958.60
6. Siemens: Bullish. Take new positions at current market price.
7. Vedanta (VEDL): Bullish. Currently @ Support. Buy above 274.95. Today saw a 4.54% rise.
Views On Nifty: Nifty opened gapped up in the morning and after a brief correction continued its upwards journey. The bulls have strong grip on the market currently. NIFTY closed with a gain of 128.15(0.78%). There were 35 advances in NIFTY. Nifty Metal being the highest gainer with a gain of 2.90%.
Views on Bank Nifty: Bank Nifty never showed real weakness during the day and its continents contributed to rise in the indices today. Currently at support (35679.15).
Data Analysis : In the cash market trading data, we find that both FIIs were net sellers while DIIs are net buyers. In the derivative segment FIIs are neutral while DIIs continue to hold bearish positions.
Looking at weaking India Vix and increasing SGX NIFTY and Dow Futures, I feel we may see more upside in the market in the coming days especially on Wednesday.
Stock Recommendations for 25th August 2021:
1. Adani Green: Bullish. Hold Buy Positions.
2. Apollo Hospital: Bullish Reversal happened. One can hold long positions.
3. Auropharma: Wait and Watch. Lookout is still Bearish. Hold Shorts.
4. Eicher Motors: Bearish. Take short below 2523.
5. Lupin: Bearish. Take short positions after reversal from 958.60
6. Siemens: Bullish. Take new positions at current market price.
7. Vedanta (VEDL): Bullish. Currently @ Support. Buy above 274.95. Today saw a 4.54% rise.
Billionaire Trader