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Nifty View:
SGX Nifty indicates a slightly negative opening for Nifty. U.S Market Gets Nervous Ahead Fed Powell 's Speech at Jackson Hole Monetary Conference and closed in red. Chinese markets undergone huge selling pressure on opening.
Yesterday we have discussed support at 16,600 levels, hope you have taken trade accordingly. We have also mentioned volatility as monthly expiry.
28 of Nifty 50 stocks had closed in Red yesterday. FIIs were net sellers of 1974.4 cr and DIIs were net buyers of 1055.2cr yesterday.
Technically Nifty had formed a Doji kind candle and indicated weakness ahead. But the Lower levels have strongly purchased indicating the power and faith of Bulls.
Watch for Weakness in Global Markets and report the highest number of covid cases for August in the Country affecting the market.
16,580-16,600 is the major support zone for Nifty, the gap down opening below the range may cause to act as resistance. 16,700 is the major Resistance for Nifty.
16,530 followed by 16,400 can support Nifty. Profit booking beyond 16,530 may trigger some weakness to Nifty.
Weakness in the auto sector was extended to yesterday too.
Stocks In News:
PVR & INOX: Multiplexes and Theatres across Tamil Nadu to open Today.
Adani Green : The board of directors of Adani Green Energy Ltd has approved raising up to $750 m through dollar-denominated foreign currency
Wipro: The company has partnered with DataRobot to deliver Augmented Intelligence at scale, to help customers become Al driven enterprises, and accelerate their business impact.
Infosys: Infosys Public Services Inc, a subsidiary of the company, has been awarded a contract by Manitoba Public Insurance to digitise driver licensing, vehicle registration, and International Registration Plan services for over 900,000 Manitobans.
IDFC First Bank: RBI has approved the appointment of Sanjeeb Chaudhuri as the part-time Chairman of the bank for a period of three years with effect from August 25.
