Nifty Scales New High, Foreign Investors Add $941M In August


Nifty opened 30 points gap up at 11501 this morning and went on to register a new high of $11565 halfway through the day’s trade. Recent research reports released by Care Ratings revealed that foreign investors have turned bullish on India and have added $941 million in the Indian debt and equity markets in August so far. In today’s trade, Nifty took the support of its 5 DEMA high (11500 approx) and scaled up 64 points to register its all-time high of 11565. Today’s upside rally had a strong presence of buyers which was revealed by exponential returns generated in the 11600 and 11700 strike call options. While 11600 call option buyers bagged 66% returns in today’s trade, 11700 call options buyers netted a whopping 93% returns intraday. The nearest upside target for Nifty is around its upper Bollinger band (11580 approx).

Stocks Under The Scanner
In today’s trade L&T shares rose 6.68%, while Tata Motors shares rose 4.76%. In the IT sector, Infosys shares dropped 2.95% in the course of the day’s trade.



The Outlook for 21st August 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty opened 30 points gap up at 11501 and took the support of it is 5 DEMA high (11500 approx). The index closed at 11551, indicating a strong presence of buyers in the market. The nearest support zone for Nifty is around the 5 DEMA high (11500 approx). However, the index will also find a strong support around its 5 weekly DEMA high (11420 approx). The nearest upside target for Nifty is around its upper Bollinger band (11580 approx).



Nifty Hourly Chart Levels
In today’s hourly trading, the Nifty share price has closed around its 5 HEMA high  (11552 approx). The index is likely to find strong support around its 10 HMA (11525approx). The nearest target for Nifty is around its hourly upper Bollinger band (11585 approx).





Tomorrow’s Stock Pick

Larsen & Toubro

L&T is one of the largest Indian multi-national firm headquartered in Mumbai, Maharashtra, India. The company has business interests in engineering, construction, manufacturing goods, information technology, and financial services, and has offices worldwide.

Why Larsen & Toubro 

L&T is our star pick for Tuesday's it has formed a double bottom in the daily chart. The stock price had made a low of 1206 on the 28th of June 2018.L & T had tested 1226 on the 16th of August 2018 and is currently trading at 1323 approx. If the Stock breaks and trades above 1347, its nearest upside target will be around 1468.



Large Cap & Mid Cap Gainers








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India’s benchmark Nifty opened 30 points gap up at 11501 this morning and went on to register a new high of $11565 halfway through the day’s trade. Recent research reports released by Care Ratings revealed that foreign investors have turned bullish on India and have added $941 million in the Indian debt and equity markets in August so far. In today’s trade, Nifty took the support of its 5 DEMA high (11500 approx) and scaled up 64 points to register its all-time high of 11565. Today’s upside rally had a strong presence of buyers which was revealed by exponential returns generated in the 11600 and 11700 strike call options. While 11600 call option buyers bagged 66% returns in today’s trade, 11700 call options buyers netted a whopping 93% returns intraday. The nearest upside target for Nifty is around its upper Bollinger band (11580 approx).

Stocks Under The Scanner
In today’s trade L&T shares rose 6.68%, while Tata Motors shares rose 4.76%. In the IT sector, Infosys shares dropped 2.95% in the course of the day’s trade.



The Outlook for 21st August 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty opened 30 points gap up at 11501 and took the support of it is 5 DEMA high (11500 approx). The index closed at 11551, indicating a strong presence of buyers in the market. The nearest support zone for Nifty is around the 5 DEMA high (11500 approx). However, the index will also find a strong support around its 5 weekly DEMA high (11420 approx). The nearest upside target for Nifty is around its upper Bollinger band (11580 approx).



Nifty Hourly Chart Levels
In today’s hourly trading, the Nifty share price has closed around its 5 HEMA high  (11552 approx). The index is likely to find strong support around its 10 HMA (11525approx). The nearest target for Nifty is around its hourly upper Bollinger band (11585 approx).





Tomorrow’s Stock Pick

Larsen & Toubro

L&T is one of the largest Indian multi-national firm headquartered in Mumbai, Maharashtra, India. The company has business interests in engineering, construction, manufacturing goods, information technology, and financial services, and has offices worldwide.

Why Larsen & Toubro 

L&T is our star pick for Tuesday's it has formed a double bottom in the daily chart. The stock price had made a low of 1206 on the 28th of June 2018.L & T had tested 1226 on the 16th of August 2018 and is currently trading at 1323 approx. If the Stock breaks and trades above 1347, its nearest upside target will be around 1468.



Large Cap & Mid Cap Gainers








 
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