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Nifty Outlook for Thursday, 13th August | 50x InvestmentsNifty - Technical Analysis: Nifty had a gap-down opening today but tried to fill the gap through the course of the day. The intraday trend was bullish. Nifty once again took support around the 11240 levels but there is no clear momentum direction yet as indicated by the ADX indicating a week 14.61. Market - Driving Factors: Travel and Tourism stocks ended up today after Russia announced progress on a COVID vaccine. IndiGo ended over 10%, Spice Jet over 6%, Indian Hotels 4.61% and EI Hotels almost 2% higher. Nifty PSU Bank index and Nifty Media index were the biggest gainers today and ended 2.7% and 2.37% in the green respectively. Nifty Pharma was the biggest loser today, ending 1.55% in the red. Gold continued to slip and has now fallen around 7% in the last 5 days. Nifty - Outlook for Thursday, 13th August: There is no clear direction as to where Nifty might head in the short term. More details from Russia and WHO regarding the vaccine might give a direction to markets. The fall in precious metal prices is an indication that an influx into equity might be occurring soon. This is a positive sign for markets. This coupled with the fact that the USD is expected to weaken puts India in a good position to receive FII investments.
NSE:NIFTY
by Algokart
2
Nifty Outlook for Monday, 10th August | 50x InvestmentsNifty - Technical Analysis: Nifty had a gap-down opening on hourly charts and remained within a range throughout the day. On the 15-minute chart, most candles had long upper and lower shadows indicating the presence of uncertainty in the markets. 9-period SMA closed above the 12-period SMA on 15-minute charts indicating the small positive bias in the markets. Market - Driving Factors: Vodafone Idea declared their Q1 results and it was once again a poor show in absolute terms. The stock still ended over 7% up because the results were better than street estimates. Lupin too had a poor Q1 and the stock ended over 6% lower. Nifty IT and Pharma indices ended lower today probably because of a strengthening rupee. The Nifty PSU Bank index broke its poor recent run and ended almost 1% in the green. Silver continued its stellar rally and is 2% up as of 5:18pm. Nifty - Outlook for Monday, 10th August: A break out from the 11000-11300 range could give some certainty to the direction of markets. Such a breakout would at least lead to a measured move if not a deeper trend change for the long term. A weekend break might just help markets get a direction and shift sentiment to one side. So, one should avoid any huge directional bets early on Monday till a direction emerges.
NSE:NIFTY
by Algokart
4
Can INDIA VIX be a Leading Indicator for NIFTY ?1. India VIX is the volatility index of Indian stock market, which depicts the expected market volatility over the next 30 calendar days. i.e. higher the India VIX values, higher the expected volatility and vice-versa. 2. It is computed using the best bid and ask quotes of the out-of-the-money near and mid-month NIFTY option contracts. 3. The variance for the near and mid month expiry computed separately are interpolated to get a single variance value with a constant maturity of 30 days to expiration. The square root of the computed variance value is multiplied by 100 to arrive at the India VIX value. 4. VIX can be used to measure sentiment while making investment decisions. It reflects market participants’ greed and fear and is often referred to as ‘Fear Gauge’ or ‘Fear Index’. 5. The correlation between Indian VIX and the benchmark NIFTY50 is typically negative. 6. This is because when there is more uncertainty in future, market participant’s starts fearing and the market enters in to bearish mode. 7. We would always find VIX at low levels when the index is at its high point and VIX at high levels when the markets are trying to find a bottom.
NSE:NIFTY
by ayushchaurasia005