Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), sentiment and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, July 28, 2021. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Key equity indices ended with modest losses of around half a per cent on Tuesday, July 27, 2021. The S&P BSE Sensex declined 273.51 points or 0.52 per cent to close at 52,578.76. The Nifty 50 index lost 78 points or 0.49 per cent to settle at 15,746.45. Similarly, the Bank Nifty index lost 152.25 points or 0.44 per cent to end at 34,797.45. 

See Zee Business Live TV Streaming Below:

In the broader markets, the S&P BSE MidCap index fell 0.67 per cent and the S&P BSE SmallCap index lost 0.11 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 28:

Day support zone on Nifty is 15,650-15,700, below that 15,575-15,625 is a strong Buy zone.

Day higher zone on Nifty is 15,800-15,825, above that 15,850-15,900 is a strong Sell zone.

Day support zone on Bank Nifty is 34,550-34,675, below that 34,350-34,425 is a strong Buy zone.

Day higher zone on Bank Nifty is 34,975-35,075, above that 35,175-35,300 is a strong Sell zone.

The small day range for trading on Nifty is 15,700-15,800, while the medium and bigger day ranges are 15,650-15,850 and 15,575-15,900, respectively.

The small day range for trading on Bank Nifty is 34,675-34,975, while the medium and bigger day ranges are 34,550-35,075 and 34,425-35,175.

FIIs Index long at 57% Vs 60%

PCR at oversold levels at 0.90 Vs 1.10, short covering expected from lower levels

India VIX up by 6% at 13.23

For Existing Long Positions:

Nifty Intraday stop loss is 15,700 and Closing stop loss is 15,625.

Bank Nifty Intraday stop loss is 34,650 and Closing stop loss is 34,400,

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 15,925.

Bank Nifty Intraday and Closing stop loss are 35,200.

For New Positions:

Buy Nifty with a stop loss of 15,700 and target 15,800, 15,825, 15,850, 15,890, 15,915.

Sell Nifty in 15,850-15,925 range with a stop loss of 16,000 and target 15,825, 15,800, 15,750, 15,725, 15,700.

For New Positions:

Buy Bank Nifty in 34,425-34,675 range with a stop loss of 34,350 and target 34,800, 34,875, 34,975, 35,075.

Aggressive Traders Buy Bank Nifty with a Strict Stop Loss of 34,650 and target 34,900, 34,975, 35,075, 35,175, 35,250, 35,300.

Sell Bank Nifty in 35,075-35,175 range with a stop loss of 35,300 and target 35,000, 34,925, 34,800, 34,700.

F&O Ban Update: 

Out Of Ban: Canara Bank, NALCO

2 Stocks Already In Ban: SAIL, Voda-Idea

New In Ban: Nil

Rolex Rings IPO Preview: RISK TAKING INVESTORS CAN APPLY FOR LISTING GAINS

Positives:

Promoters Long Track Record

Attractive Valuations

Debt reduced in last 3 years

All Big Mutual Funds invested in Anchor Book

Negatives:

All key Managerial positions with family members

Profit Numbers too good to believe

FY21 revenue down but profit up due to tax advantage

From July 2017-2019 Company had a CARE D rating, indicating Default or expected to be Default. It’s now CARE BB

The company defaulted in FY 2013 too