Nifty 50 Sustained The Upper Level And Closes Flat

Nifty 50 Sustained The Upper Level And Closes Flat

The Nifty 50 Index opened with 41 points at 17,423 and closed at 17,397 on Friday, August 5, 2022. However, this Indian stock market index did lose its gaining momentum making a pause candle. The bears are trying to pull down the market but the bulls are giving a good fight. The nearest support and resistance in the next trading session will be 17,160 and 17,529 respectively. 

The market expected to have a repo rate hike of 0.35%. However, the repo rate in the RBI credit policy is more than expected and is 0.50%. The market has also sustained this unexpected occurrence. The leading sectors were Nifty IT (0.64%) and Nifty Bank (0.44%).

Nifty 50 Performance

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:

SL. NO.
STOCKS
LTP
CHNG
1
Shree Cement Limited (NSE: SHREECEM)
INR 21,225
2.60%
2
Ultratech Cement Limited (NSE: ULTRATECH CEMENT LIMITED)
INR 6,749
2.44%
3
ICICI Bank (NSE: ICICIBANK)
INR 837
2.04%
4
UPL Limited (NSE: UPL)
INR 742.50
1.47%
5
Bharti Airtel Limited (NSE: BHARTIARTL)
INR 703.50
1.33%

The Indian stocks that saw a bearish performance along with the Nifty 50 index are:

SL. NO.
STOCKS
LTP
CHNG
1
Britannia Industries Limited (NSE: BRITANNIA)
INR 3,689
-2.28%
2
Hindalco Industries Limited (NSE: HINDALCO)
INR 412.35
-2.22%
3
Eicher Motors Limited (NSE: EICHERMOT)
INR 3,082
-2.03%
4
Mahindra & Mahindra Limited (NSE: M&M)
INR 1,236.80
-1.98%
5
Reliance Industries Limited (NSE: RELIANCE)
INR 2,532.90
-1.52%

Ever since the week started, the Nifty 50 had been witnessing a volatile market condition. The bears had been trying to pull down the market. Irrespective of this, the bulls pushed up heavily as the buyers were buying at every level. That said, if the market breaks the upper level of 17,500, we can see a further rally of 100 points and it can test 17,700.

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Sahil Patil

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