Nifty:19381.65/-144.9/-0.74%;Candle:OGD,Long day red; Bank Nifty:44513.45/-482.25/-1.07% Candle:OGD,Long day red ; HB:OGD,Long day red,1634,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long40%FutCash;-317;Opt89%
OI data Nifty ( max pain W19400M)
OI data Bank Nifty Nifty(max pain W M)
News:
Events/Results:
State Bank of India, Mahindra & Mahindra, Britannia Industries, Aditya Birla Fashion and Retail, Alembic Pharmaceuticals, Bharat Dynamics, BHEL, CESC, Dilip Buildcon, Delhivery, Devyani International, Edelweiss Financial Services, Fortis Healthcare, Gati, Gujarat State Petronet, IDFC, JK Tyre & Industries, Kolte-Patil Developers, Shipping Corporation of India, Tatva Chintan Pharma Chem and Welspun Corp will be in focus ahead of quarterly earnings on August 4.
Bank of Baroda, Affle (India), APL Apollo Tubes, Balkrishna Industries, Balrampur Chini Mills, Mrs Bectors Food Specialities, Capri Global Capital, Gujarat Fluorochemicals, Gujarat Ambuja Exports, Jaiprakash Associates, Meghmani Finechem, Neogen Chemicals, Parag Milk Foods, Punjab & Sind Bank, TVS Electronics and Usha Martin will be in focus ahead of June FY24 quarter earnings on August 5.
The NSE has retained Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Hindustan Copper and Piramal Enterprises to its F&O ban list for August 4.
Market wrap up(DWM,T,N,E):Bears have taken control of Dalal Street for yet another session on August 3, dragging the Nifty50 near 19,300 levels on August 3 tracking global weakness, but the same has been strongly defended during the session, and hence can be a key decider for the next move of the index. If the index holds the same, which is a likely scenario after a sharp correction, then the immediate resistance would be the 19,400-19,600 area, but breaking of the said level can break the 50-day EMA (exponential moving average placed at 19,160). The Nifty50 dropped 145 points to 19,382 and has formed a bearish candlestick pattern on the daily charts making lower highs and lower lows formation for the second consecutive session. “The 50-day exponential moving average (DEMA) of Nifty, which is placed at 19,160, is likely to act as a support. A break below the 50-DEMA can drag the index to 18,600 levels,” However, the maximum Call open interest (OI) is placed at 19,400, which will act as an immediate resistance, The BSE Sensex corrected 542 points to 65,241, but the broader markets rebounded and breadth was balanced with a 1:1 ratio. The Nifty Midcap 100 index gained 0.25 percent and Smallcap 100 index rose 0.12 percent. India VIX, the fear index, jumped near 12 levels but could not sustain there and closed at 11.19 levels, down 0.82 percent from 11.28 levels, which seems to be not a cause of concern yet.
