Market Summary of 23rd August & Trade recommendations for 24th
Views On Nifty: Nifty opened gapped up in the morning and slipped down soon after in the morning. Once the support was hit at approx. 16400, NIFTY reversed in Bullish manner and closed near Friday’s Highs. Resistance is seen at 17000 and support @ 16500.
Views on Bank Nifty: Bank Nifty too fell heavily after initial gap up in the morning and eventually rose mid-morning to close high by 96.25 points. The support is around 34815.
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.
Stock Recommendations for 23rd August 2021:
1. Adani Green: Bullish. Hold Buy Positions.
2. Apollo Hospital: Potential Bullish Reversal expected.
3. Auropharma: Bearish. Hold Sell Positional or Sell Intraday
4. Eicher Motors: Bearish. Take short below 2523.
5. Lupin: Bearish. New Intraday Short Position can be taken below today’s closing price.
6. Siemens: Wait and Watch. Recommended Position is Buy.
7. Vedanta (VEDL): Bullish. Currently @ Support. Buy above 274.95
Views on Bank Nifty: Bank Nifty too fell heavily after initial gap up in the morning and eventually rose mid-morning to close high by 96.25 points. The support is around 34815.
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.
Stock Recommendations for 23rd August 2021:
1. Adani Green: Bullish. Hold Buy Positions.
2. Apollo Hospital: Potential Bullish Reversal expected.
3. Auropharma: Bearish. Hold Sell Positional or Sell Intraday
4. Eicher Motors: Bearish. Take short below 2523.
5. Lupin: Bearish. New Intraday Short Position can be taken below today’s closing price.
6. Siemens: Wait and Watch. Recommended Position is Buy.
7. Vedanta (VEDL): Bullish. Currently @ Support. Buy above 274.95
Billionaire Trader