Amid neutral global markets, 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 Friday, July 30, 2021. 

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Domestic equity benchmarks ended with decent gains after a volatile session on Thursday, July 29, 2021. The S&P BSE Sensex advanced 209.36 points or 0.40 per cent to settle at 52,653.07. The Nifty 50 index added 69.05 points or 0.44 per cent to 15,778.45. The Bank Nifty settled 158.60 points or 0.46 per cent higher at 34,691.50. 

In the broader market, S&P BSE MidCap closed 0.39 per cent higher while S&P BSE SmallCap rose 0.90 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 30:

August Series Data:

At the start of the series Nifty Future Open Interest lighter at 88 lakhs Vs 93 Lakhs, lowest since Dec 2020 series

Lower rollovers in Nifty at 82.57% Vs 84.6%

Lower rollovers in Bank Nifty at 81.25% Vs 84%

Historically Market give BIG moves in the August series in either direction

Day support zone on Nifty is 15,700-15,725, below that 15,575-15,650 is a strong Buy zone.

Day higher zone on Nifty is 15,800-15,850, above that 15,875-15,925 is a strong Sell zone.

Day support zone on Bank Nifty is 34,425-34,550, below that 34,125-34,350 is a strong Buy zone.

Day higher zone on Bank Nifty is 34,800-34,950, above that 35,000-35,175 is a strong Sell zone.

The small day range for trading on Nifty is 15,700-15,825, while the medium and bigger day ranges are 15,650-15,850 and 15,575-15,875, respectively.

The small day range for trading on Bank Nifty is 34,550-34,800, while the medium and bigger day ranges are 34,425-34,950 and 34,350-35,075, respectively. 

 

FIIs Index long at 69% Vs 55%

PCR light and comfortable at 1.16 Vs 0.93

India VIX down by 5% at 12.95

For Existing Long Positions:

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

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 in 15,650-15,700 range with a stop loss of 15,575 and target 15,750, 15,775, 15,800, 15,825, 15,850, 15,880.

Sell Nifty in 15,800-15,880 range with a stop loss of 15,925 and target 15,750, 15,725, 15,700, 15,650.

For New Positions:

Buy Bank Nifty in 34,350-34,550 range with a stop loss of 34,300 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, 34,675, 34,550, 34,425, 34,350.

F&O Ban Update: 

Out Of Ban: Sun TV, Voda-Idea

New In Ban: Nil

Stocks Already In Ban: Nil