Market Analysis of 23rd September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: Market Indices after gapping up didn’t look back today. Nifty and Bank Nifty did not have even a shred of correction today. As a reversal of yesterday, today Private Bank and NBFC stocks were the top gainers.
Data Analysis: In the cash market trading data, we find that both FIIs and DIIs were net buyers, with DIIs outbuying FIIs. We can observe that FIIs have increased their positions in Index Futures and Index Calls and decreased their positions in Index Puts.
Looking at the today’s Participant Data Only DIIs have net bearish positions and FIIs ,Clients and Pros have bullish positions. India VIX is at 16.6025.US markets have opened in the green. Global markets are trading in green.
Trade Recommendations for 20th - 24th Sep. 2021:
1. Adani Transmission (1547.60): Bullish reversal expected. Currently hitting Lower circuits on daily basis. Presence of buyers at each level. Heavy buying expected @ 1817+
2. Bajaj Holding (4952): HOLD. Up by 4.93%. RSI = 85.26
3. BPCL (419.95): Can take new shorts.
4. Indusbank (1169.15): HOLD. Price rise by 2.34%
5. Industower (279.05): HOLD. Price rise by 2.09%
6. ITC (242.50): Down by -0.41% .1st signs of reversal. Need to wait and watch.
7. Indigo (2216.50): HOLD. No new transactions advised.
8. SBIlife (1218.30): Price rise by 2.27%. Hold your Long positions. New Positions can be taken at current price. Hold till RSI > 60.
a) As calls are valid for the period 22nd September to 24th September 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 both FIIs and DIIs were net buyers, with DIIs outbuying FIIs. We can observe that FIIs have increased their positions in Index Futures and Index Calls and decreased their positions in Index Puts.
Looking at the today’s Participant Data Only DIIs have net bearish positions and FIIs ,Clients and Pros have bullish positions. India VIX is at 16.6025.US markets have opened in the green. Global markets are trading in green.
Trade Recommendations for 20th - 24th Sep. 2021:
1. Adani Transmission (1547.60): Bullish reversal expected. Currently hitting Lower circuits on daily basis. Presence of buyers at each level. Heavy buying expected @ 1817+
2. Bajaj Holding (4952): HOLD. Up by 4.93%. RSI = 85.26
3. BPCL (419.95): Can take new shorts.
4. Indusbank (1169.15): HOLD. Price rise by 2.34%
5. Industower (279.05): HOLD. Price rise by 2.09%
6. ITC (242.50): Down by -0.41% .1st signs of reversal. Need to wait and watch.
7. Indigo (2216.50): HOLD. No new transactions advised.
8. SBIlife (1218.30): Price rise by 2.27%. Hold your Long positions. New Positions can be taken at current price. Hold till RSI > 60.
a) As calls are valid for the period 22nd September to 24th September 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.
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