Amid neutral global markets, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, August 2, 2021. 

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Domestic equity markets closed with minor loss on Friday, July 30, 2021, as domestic equities witnessed sharp profit booking at the fag end of the session. The S&P BSE Sensex fell 66.23 points or 0.13 per cent to close at 52,586.84. The Nifty 50 index closed 15.40 points or 0.10 per cent lower at 15,763.05. The Nifty Bank lost 107.15 points or 0.31 per cent to end at 34,584.35. 

The broader markets outperformed with the S&P BSE MidCap closed 0.52 per cent higher and the S&P BSE SmallCap gained 0.69 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for August 2:

Day support zone on Nifty is 15,700-15,750, below that 15,575-15,650 is a strong Buy zone. 

Day higher zone on Nifty is 15,825-15,875, above that 15,900-15,950 strong Sell zone.

 

Day support zone on Bank Nifty is 34,350-34,450, below that 33,925-34,125 is a strong Buy zone.

Day higher zone on Bank Nifty is 34,775-34,900, above that 35,000-35,175 is a strong Sell zone. 

 

The small day range for trading on Nifty is 15,750-15,850, while the medium and bigger day ranges are 15,700-15,900 and 15,650-15,950, respectively. 

The small day range for trading on Bank Nifty is 34,450-34,775, while the medium and bigger day ranges are 34,350-34,900 and 34,100-35,000, respectively. 

FIIs Index long at 62% Vs 69%

PCR near oversold at 1.09 Vs 1.16

India VIX down by 1% at 12.80

For Existing Long Positions:

Nifty intraday and closing stop loss are 15,700.

Bank Nifty intraday and closing stop loss are 34,350.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,925.

Bank Nifty intraday stop loss is 35,000 and closing stop loss is 35,200.

For New Positions:

Buy Nifty with a stop loss of 15,700 and target 15,850, 15,880, 15,915, 15,950.

Sell Nifty in 15,875-15,950 range with a stop loss of 16,000 and target 15,825, 15,800, 15,775, 15,750, 15,700.

For New Positions:

Buy Bank Nifty with a stop loss of 34,350 and target 34,675, 34,775, 34,900, 34,950, 35,000, 35,075.

Sell Bank Nifty in 34,875-35,075 range with a stop loss of 35,200 and target 34,800, 34,700, 34,600, 34,550, 34,450, 34,350.

F&O Ban Update: 

New In Ban: Sun TV

Out Of Ban: Nil

Already In Ban: Nil

Stock Of The Day:

Sell BHEL Futures: Stop loss 61, target 57, 55, 53. Weak Results, much below expectation on all parameters. Goldman Sachs recommends SELL, Target 23.