- Bajaj Finance, Maruti, Axis Bank to declare results today.
- US markets ended mixed.
- Asian markets are slightly lower.
- SGX Nifty is almost flat to slight positive.
SGX NIfty indicates almost flat opening. Previous session was a trend day before a pullback. Hence the chances are higher of trend resumption if the market opens gap-up or flat.
Intraday Trade Setups
- Both Nifty and Bank-Nifty opened slight gap-up.
- While nifty was bullish from the start, bank-nifty was confusing.
- At 09:35 am, closed above the close of 1st red bar.
- After trending up, both markets pulled a bit.
- At 10:25 am and 11:30 am, nifty had signal bar.
- At 11:40 am, bank-nifty had a similar setup at its high of day.
- Both the markets again pulled back attracting the short sellers at the high of day.
- At 01:45 pm, both the markets strongly broke out of the pole-flag formation.
- Nifty metal was the biggest gainer.
- Almost all sectors ended in green.
- Hindalco was the top gainer in Nifty 50 with 5.07% gain.
- Hdfclife was the top loser in Nifty 50 ending at -3.58%.
- Nifty 50 advances: 41
- Nifty 50 declines: 08
Trade Plan for Next Session:
- Today both the markets trended to the upside.
- Today, FIIs were net sellers for 1454 crores while DIIs were net buyers for 1463 crores.
- If market opens flat or gap-up, we can again trend upward after accumulation.
- If market opens gap-down, that would be a surprise.