
Nifty 50: 4 Months High For The First Time
- Stocks Updates
Sahil Patil
- August 16, 2022
- 0
- 4 minutes read
The Nifty 50 Index opened with a gap up at 17,797 with 95 points and closed at 17,825 on Tuesday, August 16, 2022. A gain of 95 points (0.72%) is achieved. The nearest support and resistance in the next trading session will be 17,700 and 17,900 respectively. The leading sectors were Nifty Auto (2.52%) and Nifty FMCG (1.19%).
Nifty 50 Technical Analysis
To know better about the market you can check the video provided above that contains Nifty 50 option chain analysis data.
Top Gainers And Losers Today
The top Indian stocks that saw a bullish performance as per NSE are:
- HDFC Life Insurance Company Limited (NSE: HDFCLIFE)
- Adani Ports And Special Economic Zone Limited (NSE: ADANIPORTS)
- Eicher Motors Limited (NSE: EICHERMOT)
- Bharat Petroleum Corporation Limited (NSE:BPCL)
- Maruti Suzuki India Limited (NSE: MARUTI)
The Indian stocks that saw a bearish performance along with the Nifty 50 index are:
- Grasim Industries Limited (NSE: GRASIM)
- Hindalco Industries Limited (NSE: HINDALCO)
- JSW Steel Limited (NSE: JSW)
- Bharti Airtel Limited (NSE: BHARTIARTL)
- State Bank Of India (NSE: SBIN)
The Nifty 50 witnessed a Gap up opening based on today’s intraday perspective, yet it was volatile. The best part is that Nifty managed to break the trendline of October 2021. In the opening session, Nifty showed some profit booking but by the end of the session, it successfully closed with a buying momentum. Nifty can go up to 18,100 if it manages to break 17,900. The OI chart indicates bullish signal as there is unwinding from the call side. Option buying might be a risk here as theta will start eroding at a much higher speed from tomorrow.