The market failed to maintain its opening gains and was quickly caught in the trading trap below the entire session on July 28, dragged by banks, opting for cars, electric shares, and Reliance Industries.
BSE Sensex slipped 135.05 points to close at 52,443.71, while Nifty50 dropped 37.10 points to 15,709.40 before the end of future contracts and options on July 28, and formed the Hammer pattern on daily charts.
“Typically, the formation of a Hammer pattern after a reasonable decline or near critical services would be like a reversal in validation. Therefore, there may be a recurrence in the next 1-2 days,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
“The Niftys have built a low swing at the lower extremities in broad movement and we are seeing a low formation. This shows a high volatility during weakness, and we saw a sharp sharp explosion just after such a move in the past. It is expected that a high probability may test the high resistance level of 15,860-15,900 in the near future. , “he added.
Wide markets – Nifty Midcap 100 and Smallcap 100 indices – have dropped by half each.
Key Support And Resistance Levels On The Nifty
According to pivot charts, the key support levels for the Nifty are placed at 15,559.43, followed by 15,409.47. If the index moves up, the key resistance levels to watch out for are 15,813.43 and 15,917.47.
Nifty Bank
The Nifty Bank declined 264.55 points to close at 34,532.90 on July 28. The important pivot level, which will act as crucial support for the index, is placed at 34,151.53, followed by 33,770.16. On the upside, key resistance levels are placed at 34,877.93 and 35,222.97 levels.
Call Option Data
Maximum Call open interest of 65.63 lakh contracts was seen at 15800 strike, which will act as a crucial resistance level in the July series.
This is followed by 16000 strike, which holds 63.82 lakh contracts, and 15900 strike, which has accumulated 57.35 lakh contracts.
Call writing was seen at 15700 strike, which added 13.60 lakh contracts, followed by 15600 strike which added 10.29 lakh contracts and 15500 strike which added 1.73 lakh contracts.
Call unwinding was seen at 15900 strike, which shed 13.35 lakh contracts, followed by 16300 strike which shed 12.18 lakh contracts, and 16200 strike which shed 11.02 lakh contracts.
Put Option Data
Maximum Put open interest of 49.89 lakh contracts was seen at 15500 strike, which will act as a crucial support level in the July series.
This is followed by 15600 strike, which holds 38.70 lakh contracts, and 15700 strike, which has accumulated 35.26 lakh contracts.
Put writing was seen at 15200 strike, which added 8.53 lakh contracts, followed by 15600 strike which added 8.38 lakh contracts, and 15500 strike which added 8.27 lakh contracts.
Put unwinding was seen at 15000 strike, which shed 22.70 lakh contracts, followed by 15800 strike which shed 17.14 lakh contracts, and 15700 strike which shed 9.79 lakh contracts.
Bulk Deals
Anup Engineering: PGIM India Small Cap Fund acquired 50,000 equity shares in the company at Rs 1,024.77 per share on the NSE, the bulk deals data showed.
Equitas Holdings: CDC Group Plc sold 46,04,000 equity shares in the company at Rs 130 per share on the NSE, and 33,96,000 shares at the same price on the BSE, the bulk deals data showed.
Apollo Tricoat Tubes: Fumistic Gaming LLP bought 2.43 lakh equity shares in the company at Rs 1,644.41 per share on the BSE, the bulk deals data showed.
Himadri Speciality Chemical: BC India Investments continued to offload shares in the company, selling 25 lakh shares at Rs 52.5 per share on the BSE, the bulk deals data showed.
Results on July 29
Tech Mahindra, Colgate-Palmolive (India), AAVAS Financiers, ADF Foods, Aegis Logistics, Ajanta Pharma, CCL Products, Container Corporation of India, Dhanuka Agritech, Dwarikesh Sugar Industries, Eris Lifesciences, Future Retail, GHCL, Home First Finance Company India, Indus Towers, JK Lakshmi Cement, Jindal Stainless (Hisar), Jyothy Labs, Laurus Labs, LIC Housing Finance, Mahindra Holidays & Resorts India, Motilal Oswal Financial Services, Oberoi Realty, Parag Milk Foods, Punjab & Sind Bank, PVR, Raymond, Shoppers Stop, Shriram City Union Finance, TVS Motor Company, Union Bank of India, Vaibhav Global, and Welspun Corp will release quarterly earnings on July 29.
Analysts/Investors Meeting
United Breweries: The company’s officials will meet analysts and investors on July 29 to discuss unaudited financial results.
Share India Securities: The company’s officials will meet analysts and investors on July 30 to discuss the unaudited financial results.
Solar Industries India: The company’s officials will meet analysts and investors on July 30 to discuss the unaudited financial results.
Sunteck Realty: The company’s officials will meet analysts and investors on August 2 to discuss the Q1 FY2022 results and business updates.
Emami: The company’s officials will meet analysts and investors on August 2 to discuss unaudited financial results.
Ajmera Realty & Infra India: The company’s officials will meet analysts and investors on August 3 to discuss unaudited financial results.
HIL: The company’s officials will meet analysts and investors on August 5 to discuss unaudited financial results.
Brigade Enterprises: The company’s officials will meet analysts and investors on August 6 to discuss financial and operational performance.
Alkem Laboratories: The company’s officials will meet analysts and investors on August 6 for discussing unaudited financial results.
Sandhar Technologies: The company’s officials will meet analysts and investors on August 9 to discuss the financial performance.
Stocks In The News
Apollo Hospitals Enterprise: Sands Capital Management LLC acquired 2.2 percent stake in the company via an open market transaction on July 27, increasing shareholding to 9 percent from 7 percent earlier.
Jubilant Ingrevia: East Bridge Capital Master Fund sold 2.23 percent equity stake in the company via an open market transaction on July 26, reducing shareholding 3.38% from 5.61% earlier.
Mahanagar Gas: The company reported sharply higher profit at Rs 204.08 crore in Q1FY22 against Rs 45.25 crore in Q1FY21, revenue jumped to Rs 666.85 crore from Rs 277.47 crore YoY.
WABCO India: The company reported profit at Rs 21.38 crore in Q1FY22 against loss of Rs 31.36 crore in Q1FY21, revenue jumped to Rs 491.91 crore from Rs 165.96 crore YoY.
JK Agri Genetics: The company reported higher profit at Rs 23.04 crore in Q1FY22 against Rs 19.20 crore in Q1FY21, revenue rose to Rs 131.56 crore from Rs 123.62 crore YoY.
Route Mobile: The company reported higher consolidated profit at Rs 34.32 crore in Q1FY22 against Rs 26.93 crore in Q1FY21, revenue jumped to Rs 377.52 crore from Rs 309.61 crore YoY.
FII And DII Data
Foreign institutional investors (FIIs) net sold shares worth Rs 2,274.77 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 921.45 crore in the Indian equity market on July 28, as per provisional data available on the NSE.
Stocks Under F&O Ban On NSE
Two stocks – Vodafone Idea, and Sun TV Network – are under the F&O ban for July 29. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
