Closing Bell: Nifty at 19,750, Sensex up 367 points; barring FMCG all sectors in green

Taking Stock: Market bounces back; Nifty above 19,750; Sensex up 367 points

The biggest gainers on the Nifty were NTPC, Power Grid Corporation, Adani Ports, ONGC and Hindalco Industries, while Apollo Hospitals, Britannia Industries, HDFC Life, Divis Labs and Bajaj Finance were the top losers.... Read More

Benchmarks witnessed a positive session throughout the day, thanks to positive Wall Street cues in Friday's trade. The key positive catalyst is that the US economy expanded an annualised 2.4% in Q2, higher than 2% in the previous period and way above the market estimates of 1.8%.

Auto stocks will be in focus on account of monthly auto sales data for July to be released tomorrow. Technically, Nifty is likely to aim to close above its key hurdle at 19887 mark.

The Nifty index showed a positive trend with a green candle on the daily chart, indicating a potential comeback by the bulls. The short-term trend remains positive as Nifty found support at the 21EMA in the previous session. However, the RSI is currently in a bearish crossover, suggesting a potential downside. The lower end support is at 19700, while resistance is at 19800. A decisive move above 19800 might induce a rally towards the 20000 mark.

Our market started the day on a mild note, wherein the bulls firmly capitalized on the opportunity to push the market upwards. The benchmark index Nifty50 witnessed a modest rebound from the pivotal support and settled in green amidst some buying in heavyweights. Eventually, with the market breadth on the positive side, Nifty concluded the session on a positive note around 19750 with gains of over half a percent.

The sustainable movement in the key indices throughout the day construes a positive development. The bulls once again showed resilience to portray a buoyant undertone. As far as levels are concerned, 19600 is likely to act as a cushion, while the pivotal zone of 19500, coinciding with 20 DEMA, is expected to act as sacrosanct support. On the higher end, a cluster of resistances can be seen around 19800 - 20000 in the comparable period.

The broad-based buying has levitated the sentiments of participants, but one should not become complacent and focus on a pragmatic approach to buy the decline and book on the rise. Also, one needs to stay abreast with the mentioned levels and follow the stock-centric strategy for better trading opportunities.

After two days of pause, domestic equities resumed their uptrend as sentiments improved after data showed an easing in US inflation and better-than-expected China manufacturing data. Nifty opened higher and gained momentum throughout the session to close with gains of 108 points at 19754 levels. Broader market closed with gains of 1%. All sectors ended in the green, except for FMCG and Healthcare. Metals, IT, Auto, oil & Gas, and Consumer Durables ended with gains of more than 1%.

Indian Equities ended positively for the fourth consecutive month with Nifty gaining 2.9% on the back of a healthy Q1 earning season, a 6% surplus in rainfall, and positive FIIs flow during the month (Rs 14623cr till 28th July).

Going ahead, we expect the market to continue its northbound journey with phases of consolidation. The power sector remains in focus after NTPC reported strong quarterly results. Auto stocks will be in action as companies are likely to release improving monthly sales numbers, especially 2W and CV segment.

The bulls successfully defended the lower levels and found support around the 20-day moving average (20DMA) positioned at 45400, suggesting their willingness to prevent further downside movements. On the other hand, the bears have been holding strong around the 45700-45800 zone, creating a significant resistance area.

A break above this resistance zone would signal the bulls taking complete control and potentially lead the index to fresh all-time high levels. However, if the index breaks below the 45300 level, it may indicate further downside potential towards 45000-44700 levels, as the bears gain momentum and exert additional selling pressure.

Nifty resumed the uptrend on July 31 after a two days fall aided by positive global cues and buying in IT and Metal stocks. At close, Nifty was up 0.55% or 107.8 points at 19753.8. Volumes on the NSE continued to be on the higher side. Broad market indices rose more than the Nifty even as the advance decline ratio rose to 1.93:1.

Asian stock markets are trading mostly higher on Monday, following broadly positive cues from global markets on Friday and on hopes for more stimulus from Beijing for the sluggish Chinese economy following contraction in factory activity for July. Shares were mixed in Europe as Eurozone returned to growth in Q2 amid falling inflation even as GDP grew 0.3% QoQ. Headline inflation in the euro zone fell to 5.3% in July.

Nifty bounced up post a two day fall and now is headed towards 19826-19868 band. On falls 19563 could offer support. Broader market is performing even better even as the results season has entered a peak fortnight. Nifty gained 2.94% over the month of July.

Following today's flat to positive opening, the Nifty was positive throughout the day after making a low of 19600 for the day, concluding a positive close for the day. For investors, the market is buys on dips with a strict stop loss of 19500, and if the Nifty closes below the indicated level, we can expect more profit booking.

The market has traded Positive with the Sensex gaining 0.56 percent and closed at 66527.67 and Nifty was up by 0.55 percent intraday and closed at 19753.80 levels whereas Bank Nifty was up by 0.40 percent and settled at 45651.10.

Among sectors Nifty Auto and Nifty IT and Nifty Metal ended in green while Nifty FMCG, Nifty Consumption and Nifty Healthcare ended on the lower side. In Nifty stocks, NTPC, ONGC and Adani Ports were the top gainers while HDFC Life, Britannia and Divis Lab were the prime laggards.

India VIX was positive by 2.66 percent intraday and settled at 10.41.

Volume profile indicates Index has a strong support around 19500-19550 zone. Coming to the Open Interest data, on the call side, the highest OI observed at 19800 followed by 20000 strike prices while on the put side, the highest OI is at 19600 strike price. On the other hand, Bank nifty has support at 45360-45500 while resistance is placed at 45800-46000 levels.

Markets started the week on a positive note and gained over half a percent, tracking supportive global cues. After the flat beginning, the Nifty inched gradually higher and finally settled around the day’s high at 19,753.80 levels. Most sectors traded in tandem and ended higher wherein metal, energy and IT were among the top gainers. Meanwhile, the continued outperformance of the broader indices helped the market breadth to end strongly on the advancing side.

This rebound is largely on the expected lines but we need sustainability above 19,850 in Nifty to resume the uptrend. We are seeing leading sectors like banking, auto and FMCG taking a breather while others are catching up now. Participants should plan their positions accordingly and look for stocks offering favorable risk to reward.

Strong buoyancy in Asian and European indices bolstered the local market sentiment, as the beaten-down sectors in recent sessions like IT, metals, power, and oil & gas stocks were the star performers.

The undertone of our market is still bullish and hence we may not see such frenzied selling unless there is any major havoc in global markets. Technically, the Nifty took support near the 20-day SMA (Simple Moving Average) and bounced back sharply.

A promising reversal formation is indicating further uptrend from the current levels. For the trend following traders, 19650 would be the trend decider level, and above the same the market could move up till 19850-19875. On the flip side, below 19650, bulls may prefer to exit from long positions and could retest the level of 19600-19560.

Indian equities started the week on a tepid note but the support of 20DMA helped the Nifty50 to reverse from the lower levels and follow-up buying across the board pushed the Index further higher to end the day at 19,753.80 with gains of 107.75 points. Barring the FMCG sector, rest of the sectors ended the day with gains where Metal, Energy, and IT were the top gainers.

The broader markets continued to outperform the frontline index as mid and smallcap indices ended the day with gains of more than 0.85%. Nifty and BankNifty have formed a bullish candle on the daily chart which indicates a continuation of an uptrend with the immediate support of 20DMA.

Indian indices have resumed their rally, following the global market trend, as cooling inflation across the globe gave hopes of an end to the policy tightening era. The latest positive development was the Eurozone's inflation slowing for the third consecutive month in July, coming in at 5.3%, in line with market predictions. Moreover, the euro zone economy grew by 0.3% during the June quarter, according to preliminary estimates, slightly surpassing market expectations.

Indian rupee closed flat at 82.25 per dollar.