Market Prediction for Tomm| Bank Nifty Analysis for Friday|28 July 2023 |Stocks to Buy| GoodReturns
Stock Market Highlight : Domestic indices ended Tuesday’s session flat. The NSE Nifty 50 rose 8.25 points or 0.04% to close at 19,680.60 while BSE Sensex dipped 29.07 points or 0.04% to 66,355.71. What should be you strategy for 28 july 2023 Stock Market, let's know in this video.
Disclaimer: The views and investment tips expressed by experts on GoodReturns are their own and not those of the website or its management. GoodReturns advises users to check with certified experts before taking any investment decisions.
#StockMarket #Nifty #saudakharakhara
~PR.147~HT.178~PR.100~
Disclaimer: The views and investment tips expressed by experts on GoodReturns are their own and not those of the website or its management. GoodReturns advises users to check with certified experts before taking any investment decisions.
#StockMarket #Nifty #saudakharakhara
~PR.147~HT.178~PR.100~
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NewsTranscript
00:00 Today, Nifty's closing was negative, the closing of the census was negative.
00:05 But the most important discussion is that what will be the decision of Fed's interest rate here.
00:11 Will the interest rate increase or decrease?
00:14 Or what will be the clarity regarding the interest?
00:16 Because of that, we saw some profit booking in the market today.
00:20 And Nifty here closed at around Rs.19,700, which is about 89 points down.
00:26 In the census, the closing was around 300 points down, at around 66,414.
00:32 In Bank Nifty, we saw a drop of 285 points and it closed at 45,777.
00:40 Right from the start, we saw the effect of pressure in the market.
00:45 And there was a lot of uncertainty regarding the Fed's interest.
00:49 And that's why the decline and rise was seen at the maximum level.
00:53 And Nifty's high was seen to be around Rs.19,867.
00:58 And the low was seen to be around Rs.19,603.
01:02 Today, sector-wise, we see that Auto, Cement, FMCG, Energy, Banks, IT, and especially Metal,
01:12 we saw profit booking in the counter.
01:15 If we look at the buying side, the construction and telecom industry were able to maintain the buying momentum.
01:22 Overall, profit booking was due here.
01:25 Because of the uncertainty in the market, we are seeing profit booking.
01:28 We have seen a big change in the derivative data as well.
01:31 And now, the open interest of Put is shifting towards Rs.19,600.
01:38 And the call side, the Rs.20,000, is shifting towards Rs.19,900 and Rs.19,800.
01:46 If we talk about the top gainers, then we have seen a 10% rally from Pharma to Cipla.
01:52 And along with that, Tata Communications, Sun Pharma, Gale, and Hindal,
01:57 these were the counters that were seen to be closing at a 1.5% to 2% rate.
02:02 Along with that, M&M, Tech Mahindra, Britannia, Bhajaj Finance, BPCL, Axis Bank,
02:08 these were the counters that were able to show a 6% to 1.5% downfall.
02:14 And overall, the closing was negative.
02:18 For now, the stock specific movement is worth focusing on.
02:22 Especially, if we look at the sector and the stock specific,
02:26 then Hero Motocorp is still in a lot of attraction from the auto sector.
02:30 The spot is closing at 31.55.
02:33 And the momentum of the upside is at 31.95.
02:38 From a stop loss of 31.40.
02:40 If we talk about the other stock, then here,
02:44 there is an attraction in NTPC.
02:46 The closing is at 202.
02:48 The upside will be going up to 210.
02:50 A stop loss of 197 can be bought for the market tomorrow.
02:55 We can focus on the power grid here.
02:57 The closing is at 251.
02:59 A stop loss of 248 can be bought.
03:02 And the power grid can be seen testing at levels of 255.
03:07 To focus on the sell side, there is a fresh shot in Axis Bank.
03:13 In the future, you can sell and make a strategy.
03:16 For a target of 940, a stop loss of 970 can be bought.
03:20 Also, here, you can see a sell off in Bajaj Finance.
03:25 You can sell at the level of 7300.
03:28 A target of 7100 can be bought.
03:30 A stop loss of 850 can be bought.
03:33 If we go to the other counter,
03:35 we can see a fall in Tech Mahindra.
03:40 And you can see this at the level of 1050.
03:45 You can also adopt a sell strategy from Tech Mahindra.
03:49 Tomorrow's market volatility will be high.
03:52 But you can see a down pressure.
03:55 The Fed's interest rate will be dependent on decisions.
03:59 But don't forget to book a profit.
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