The NIFTY opened at 19659.75 without any gap. The index moved up after the opening but quickly turned around and started drifting downwards after recording its intraday high at 19695.70. In the first half of trading the Index remained weak and slowly moved downwards toward 19600. The index found intraday support around 19570 and saw a rebound towards the end of today’s trading session. The NIFTY recorded its intraday low at 19563. 10 and finally closed at 19646.05 near its opening tock and also the previous day’s closing tick with a loss of 13.85 points or 0.07% down. MEDIA and REALTY outperformed today and gained over 1% followed by FMCG and METAL. IT underperformed, lost nearly 1% followed by BANK and FINANCIAL. The short-term trend is sideways now. The index is consolidating within the support around 19500 and resistance around 20000. This 500 points trading range continued for the 11th trading day. For the time being, we should step aside and avoid trading the index. We should wait for prices to break either 19500 support or 20000 resistance first. We will plan our next trade accordingly.


The BANK NIFTY opened at 45560.90 with a gap down of 214 points. The index initially moved up in its initial trades but turned down quickly. Prices have recorded its intraday high at 45727.75 and saw a sharp decline. Soon the decline took a pause and then the index started a consolidation process. Prices have moved sideways but slowly headed downward. The index recorded its intraday low at 45238.80 and finally closed at 45460.70 with a loss of 314 points. PSU BANK outperformed today, saw a mild upside move, and closed with a gain of 0.30%. PVT BANK has underperformed today, saw a sharp intraday decline and closed with a loss of 0.33%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while HDFC BANK contributed the lowest. The short-term trend is sideways now. Support is visible around 45000 while resistance is visible around 46300.


TATA POWER 234.65 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 235.10 with a stop loss of 231.70 and a target of 242.80.
TATA MOTORS 635.30 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 631.55 with a stop loss of 637.65 and a target of 618.30.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TITAN  3020 CE BUY 84.00 CMP 74.55 115.45 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATAPOWER.23.08 Aug 237 7.39 1546.4 87294375 LALPATHLAB.23.08 Aug 2328.2 -5.87 994.81 886800
IBULHSGFIN.23.08 Aug 136.95 7.33 1841.22 64846500 M&MFIN.23.08 Aug 299.35 -3.76 3772.04 32680000
TATACHEM.23.08 Aug 1057.05 6.58 1431.16 7890850 HINDPETRO.23.08 Aug 282.25 -3.04 1332.86 37913400
LICHSGFIN.23.08 Aug 417.55 5.28 1565.57 18188000 MOTHERSON.23.08 Aug 97.45 -2.74 923.56 60463600
ZEEL.23.08 Aug 247.6 4.89 2294.18 102351000 IOC.23.08 Aug 95.95 -2.44 1771.83 97821750
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Godrej Cons Products Ltd 1035.95 0.58 1481068 1518389 81.37 Nifty50 19646.05 -0.07 36293164
Dabur India Ltd. 581.7 1.38 1812535 1537376 76.68 Niftybank 45468.1 -0.46 15664031
Srf Ltd. 2170.1 0.37 370186 914918 76.58 Nifty it 29490.25 -0.86 990266
Tata Consultancy Serv Lt 3355.4 -1.22 2599831 1242876 73.03 India Vix 10.14 -3.52 686273388
Petronet Lng Limited 229.2 1.87 7031824 2197741 72.83 Nifty Fmcg 52964.05 0.88 488553
Hindustan Unilever Ltd 2584.6 0.57 966450 1654464 72.69 Nifty Pharma 14962.55 0.29 47667668
Coalindia 227.1 -0.85 8817344 5658163 72.19 Nifty Realty 562.95 1.83 1274303322
Infosys Limited 1340.5 -0.93 6122735 6632199 72.15 Nifty Auto 15537.9 -0.22 45790459
Sbi Life Insurance Compa 1289.75 -0.52 1051700 1386144 71.23 Nifty Metal 6640.8 0.9 107621727
Reliance Industries Ltd 2527.85 1 10413926 6048843 70.23 Nifty Financial Services 20298.05 -0.41 5177049

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Jun) on 31st July, 2023

INR: RBI Monetary and Credit Information Review on 31st July, 2023

USD: JOLTs Job Openings (Jun) on 1st August, 2023

USD: ISM Manufacturing PMI (Jul) on 1st August, 2023

News Updates

  • The Indian equity indices started the August series on a negative note and also ended lower for the second consecutive session on July 28 amid selling seen in the information technology, banking and oil & gas names. At close, the Sensex was down 106.62 points or 0.16 percent at 66,160.20, and the Nifty was down 13.90 points or 0.07 percent at 19,646.

  • Marico Ltd. on July 28 reported consolidated net profit at Rs 436 crore for the June quarter of FY24, registering a growth of 15.6 percent from Rs 377 crore in the same quarter of the previous financial year. Total revenue of the company is Rs 2,477 crore, falling 3.1 percent from Rs 2,558 crore in the year-ago quarter, the company said in a regulatory filing.

  • Indian Oil Corporation Limited (IOCL) on July 28 reported a consolidated net profit of Rs 14,735 crore in the first quarter of FY2023-24 amid a recovery in marketing margins. The company had reported a net loss of Rs 883 crore in the same period last year on account of high international crude oil prices.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

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