1,436 Views
Trending
The Nifty index opened at a Gap up of 56 points at 16, 661.25, led by the Financial (1.55%), Nifty Bank (1.49%), and Private Bank (1.43%) sectors. Moreover, during the trading session, it significantly increased in value. The Index was up 0.69% and closed at 16,719.45 (up by 114.20 points) on Friday, July 22, 2022.
With this bullish rally, the Nifty index broke its resistance level that was earlier set at 16,654. This was the third time in the week when this Indian stock market index broke the set resistance level, which enables a good upperside potential to it. The entire week was ‘green’ for the index and rightly proves that the upside conclusion that we provided earlier was indeed true. Here is a market roundup analysis provided for better understanding.
(b) 97,096 at 16,800
(c) 1,28,674 at 17,000
(b) 1,04,484 at 16,600
(b) At 16,700 was 43,311
(b) At 16,700 was 69,905
By analysing the current expiry option chain, we can clearly see that 16,600 option writers shifted to 16,700 and 17,000.
The current nearest resistance level is set at 16,900, which if broken would make the market bullish. It is currently sustaining above all of its daily EMA metrics (20/50/100/200), indicating that the market futures seem optimistic. The nearest support is set at 16,655 currently, if this level is broken then would lead to a bearish session.
The top Indian stocks that saw a ‘green’ session today are mentioned below.
Ultratech Cement Limited (NSE: ULTRACEMCO) saw its stock gain by 4.90% and close at INR 6,431.20 (up by 300.50 points) today. The total trade volume of the stock stood at 14,41,549, worth INR 91,383.39 lakhs.
Grasim Industries Limited (NSE: GRASIM) saw its share prices increase by 3.37% and close at INR 1,514.00 (up by 49.40 points) today. The total trade volume of the stock stood at 16,43,539, worth INR 24,621.20 lakhs.
UPL Limited (NSE: UPL) saw its equity stock prices increase by 2.85% and close at INR 725.10 (up by 20.10 points) today. The total trade volume of the stock stood at 57,83,131, worth INR 41,894.16 lakhs.
The Indian stocks that dipped the most even during a ‘green’ day for the Nifty 50 Index have been listed below.
Tata Consumer Products Limited (NSE: TATACONSUM) saw its stock prices drop by 1.87% and close at INR 803.00 (down by 15.30 points) today. The total trade volume of the stock stood at 17,46,104, worth INR 14,141.87 lakhs. However, the stock was up by 2.96% and closed at INR 818.50 (up by 23.50 points) yesterday.
nfosys Limited (NSE: INFY) saw its stock prices slip by 1.75% and close at INR 1,506.00 (down by 26.90 points) today. The total trade volume of the stock stood at 70,20,642, worth INR 1,05,843.20 lakhs.
NTPC Limited (NSE: NTPC) saw its stock prices dip by 1.09% and close at INR 149.20 (down by 1.65 points) today. The total trade volume of the stock stood at 68,00,124, worth INR 10,137.62 lakhs.
The 5 consecutive ‘green’ sessions of the Nifty index are surely a breather. Moreover, the FII purchases in the market amount to INR 1,900 crores as of July 21, 2022. Therefore, the consistent sell-offs came to a standstill, which is another positive factor for the market’s future performance.
Investing decisions should be precise and correct as that involves huge sums of money. So if you have to consider a good investment advisor, then you can surely count on Sahil Patel. He has been in the investing business for the last 5 years and will surely help you in your investment decisions.
News Magnify is a digitally focused media company committed to strengthening communities. We touch people’s lives globally by creating engaging content initiating people-first access in news, business, stocks, technology, lifestyle, health, finance, travel, food and entertainment. Despite your identity and location, you can entirely rely on us to achieve updated information on the global happenings.
Looks like you are using an ad-blocking browser extension. We request you to whitelist our website on the ad-blocking extension and refresh your browser to view the content.