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Nifty comes under pressure and closes at 16450NIFTY 50 EOD ANALYSIS -20-08-21 IN SUMMARY O / H / L / C 16382.5 / 16509.55 / 16376.05 / 16450.5 H-L = 133 VIX 14.02 / +8.6% FII DII: -2178 Crores Likely open: Negative to flat CHART BASED CONCLUSIONS A 200+ point gap-down opening in Nifty shook all the scrips. Nifty made a significantly lower high and a significantly lower low. It then moved in a narrow range of 100+ points witnessing high volatility and choppy movements. On daily charts, it appears to have been brutally thrown away from the top though it has made a good recovery from the lows. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters HUL 23 BAJAJ FINANCE 15 NESTLE 13 ASIAN PAINTS 11 BRITANNIA 09 TOTAL 71 The Draggers JSW STEEL 27 TATA STEEL 21 RELIANCE 18 ICICI BANK 11 SBI 11 TOTAL 88 Lifter - Draggers = -17 The selling appears to be quite intense and that explains the negative closing for the week. POSITIVES The sleeping giant HUL woke up and stood firm and helped steady Nifty. HDFC ended in the green despite extreme selling pressure. BANK NIFTY managed to end above 35000 make or break level. NEGATIVES Nifty failed to close above 16500 and a major barrier for the bulls has been lost for now. BANK NIFTY fought an intense battle to stay above 35000 and it was hard to for it to even cross 35100 as it was pushed down severely from that area. FIIs have sold heavily. VIX is up almost 9%! TRADING RANGE FOR W/B 23-8-21 The Nifty baseline moves down to 16300-350. The resistances are now from 16500 onwards. BANK NIFTY support base also slides to 34800-35000 and resistance at 35200-35500. INSIGHT / OBSERVATIONS FIIs have sold heavily so some more negativity on the cards. HUL rose sharply and BRITANNIA also did well but ITC did not move much. So there is something in HUL and BRITANNIA that is not applicable to ITC. BANK NIFTY was struggling hard to cross 35100 and the impact was direct on Nifty. The moves remind me of the slow and choppy moves that we had seen during the last year after the COVID triggered the crash. Is this a Buy on Dips market? If one remains stock-specific then yes, it is so - at least for support to resistance-based trades. What do you feel? Thank you, and Happy Money Making! Umesh 20-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
1
IT and HUL end the day for Nifty past 16600NIFTY 50 EOD ANALYSIS -17-08-21 IN SUMMARY O / H / L / C 16545.25 / 16628.55 / 16495.4 / 16614.6 H-L = 133 VIX 13.41 / -0.37% FII DII: -77 Crores CHART BASED CONCLUSIONS Nifty closed above 16600 for the first time and close to the ATH level. Nifty made a higher high and a higher low. Nifty was facing resistance near the earlier day’s high and then fell sharply and recovered in the last hour or so. On daily charts, the candle looks strong with Ok volume. NIFTY WEIGHT LIFTERS & DRAGGERS The Weight Lifters INFOSYS 27 TCS 10 HUL 09 NESTLE 08 WIPRO 07 TOTAL 61 The Draggers HDFC BANK 14 JSW STEEL 08 RELIANCE 06 ADANI PORTS 05 LT 04 TOTAL 37 Lifter - Draggers = 24 This explains why Nifty fell before recovering sharply. POSITIVES Nifty made yet another ATH and the first close above 16600. Nifty 50 IT members rallied behind the index and performed very well. INFOSYS and TCS in particular have been doing well for the past few sessions. MARUTI as well as TATA MOTORS made a good recovery from their lows. FIIs selling has reduced compared to yesterday. NEGATIVES HDFC BANK and RELIANCE did not end in the green and instead dragged the indices so some sort of pressure is likely unless they reverse. BANK NIFTY ended once again below 36000 ahead of the expiry day. Nifty futures trading at a discount to the spot at ATH is quite an unusual situation to have. TRADING RANGE FOR 18-8-21 Nifty baseline moves up to 1600-450. BANK NIFTY support base stays at 35600-800 and resistance at 36200-36500. INSIGHT / OBSERVATIONS WHen INFOSYS buyback was in the air, it was expected that it would happen around 1750. The day’s high was 1746.9. Nifty futures trading at a discount to the spot at ATH is quite an unusual situation to have. What do you feel? Thank you, and Happy Money Making! Umesh 17-8-21 P.S. If you choose to comment on the above, please do so with your analytical view rather than merely passing a comment. Your presentation of the view held by you would help other readers as well. NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
NSE:NIFTY
by AVENUESOFINVESTMENT
HUL - RETURNS 🐛 🐛 tested crucial lvlTested crucial level. Will take a good move from here. Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade Check these Upcoming ideas - STILL ACTIVE Check these successful trades & approach on HUL , BAJAJ FINSV , DABUR , TATACHEM , VOLTAS, BAJAJ AUTO , WIPRO , DR REDDY , CUMMINS , HDFC , M&M If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know. Leave a comment that is helpful or encouraging. Let's master the markets together
NSE:HINDUNILVRLong
by thestockengineer
10
HUL - AGAIN ? 🐛 Targets already done. Cant expect near the resistance zone.may go into accumulation zone for few days. Can enter after 2500 Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade CHECK THE BLOCKBUSTER OF HUL- HALLA BOL LINK GIVEN BELOW...MAZA AAYEGA If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know. Leave a comment that is helpful or encouraging. Let's master the markets together
NSE:HINDUNILVRLong
by thestockengineer
1
HINDUSTAN UNILEVER HULNote: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions... 4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks... Keep an eye ladies and gentlemen. Cheers and Happy Trading
NSE:HINDUNILVRLong
by SENSITRADE_T