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Aug 26, 2021 4:38 PM

Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities

The market witnessed a lacklustre activity on account of F&O expiry, although the August 2021 series witnessed robust activity with a momentum of over 950 points. On technical charts, Nifty has formed a double top formation. The narrow range activity near the 16,700 resistance level indicates indecisiveness between the bulls and bears. For the traders, 16,680 could be the immediate hurdle. However, we can expect a quick uptrend rally up to 16,725-16,775 levels if the index succeeds to clear the intraday resistance of 16,680. Below the same, the correction wave could continue up to 16,560-16,520 levels.

Aug 26, 2021 4:36 PM

Ajit Mishra, VP - Research, Religare Broking

Markets remained range bound for yet another session and ended almost unchanged. The rotational buying in select index majors across sectors is helping the index to maintain the positive bias and inch higher. However, the momentum is still missing due to the continuous underperformance of the banking index. Considering the scenario, we reiterate our view to restrict naked leveraged positions and prefer index majors over others.

Aug 26, 2021 4:32 PM

Sachin Gupta, AVP - Research, Choice Broking

Technically, the Nifty index is in a bullish trend but still finding an immediate hurdle around 16,700 marks. All the key indicators are supporting the positive trend in the index. However, we remain cautious on the market until we get any positive trigger above the immediate resistance. At present, the key level 16,712 may be considered a resistance zone while on the downside, level 16,450 would act as a support zone.

Aug 26, 2021 4:29 PM

Here are key stocks that moved the most on August 26

The Sensex ended 4.89 points, or 0.01 percent, higher at 55,949.10, while the Nifty gained 2.25 points, or 0.01 percent, to close at 16,636.90 on the monthly F&O expiry day.

Aug 26, 2021 4:26 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty has once again started to form flat closes day after day, as it did during Aug 05-11 period. However post Aug 11, the Nifty broke upwards of the range closes. The advance-decline ratio fell compared to the previous day but is still at 1:1, suggesting some deterioration in the broader market sentiments. As long as Nifty is not able to post a healthy day on day gain, the broader market will struggle to bounce up. 16,712-16,603 is the band for Nifty for the near term and any breach, either way, could take the Nifty in that direction.

Aug 26, 2021 4:17 PM

Santosh Meena, Head of Research, Swastika Investmart

Indian Equity markets join hands with global markets for a wait and watch mood ahead of Powell’s speech in Jackson hole. We are not expecting any hawkish commentary by Powell amid rising covid cases in the US therefore we are seeing just a consolidation at an all-time high instead of any profit-booking. We will react to this event on Monday because Powell's speech is scheduled for Friday night as per Indian timing therefore we can expect another sideways day tomorrow. If we talk about the broader market then it was the third day in a row where midcap and smallcap space outperformed with a decent advance-decline ratio.

Technically, Nifty formed an indecisive Doji candlestick formation near an all-time high for the second day in a row. 16,700 is acting as an immediate hurdle but if Nifty manages to sustain above this level then we can expect a short covering move towards the 16,900 level. On the downside, 16,500 is an immediate psychological support level while 20-DMA of 16,332 is critical support at any pullback. Momentum Indicator RSI is in overbought territory but it may remain overbought for some more time.

Aug 26, 2021 4:09 PM

Manish Shah, Founder, Niftytriggers.com

Nifty traded mostly flat today and faced pressure moving above the previous minor high of 16,710. On the daily charts, if we drop one-time frame lower we see a bullish cup-and-a-handle taking place. Secondly, on the lower time frame, we see a bullish AB=CD pattern taking place. Nifty is in a sharp uptrend on the daily time frame as MACD is in a buy mode and ADX has started to show a rising slope. Nifty should rally towards 16,850-16,900 as we see continuation patterns below a resistance zone. Short-term support is at 16,580-16,000. Expect Nifty to see a bullish bias over the next couple of days.

Aug 26, 2021 4:00 PM

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

Today was an uneventful day of trade and that is because of the monthly expiry. However, it's good that we are still trading above 16,600. This allows the Nifty to scale higher to 16,800-16,850. Until 16,400 does not break on a closing basis, the trend of the market continues to remain bullish and traders can use choppy or bearish sessions to accumulate long positions.

Aug 26, 2021 3:53 PM

Aug 26, 2021 3:50 PM

Market At Close | FMCG supports market with Britannia, Tata Consumer being top Nifty gainers.

Aug 26, 2021 3:44 PM

Market At Close | Market closes near flatline on monthly expiry day; market breadth neutral.

Aug 26, 2021 3:43 PM

Market At Close | Here are the highlights of today’s trading session

-Market Closes Near Flatline On Monthly Expiry Day; Market Breadth Neutral

-Sensex Gains 5 Points To 55,949 & Nifty 2 Points To 16,637

-Nifty Bank Rises 31 Points To 35,618 & Midcap Index 53 Points To 27,416

-Bharti Airtel Top Nifty Loser Ahead Of Board Meet On Sunday, Stock Down Over 4%

-Metals Continue To Slip, Hindalco, JSW Steel & Tata Steel Fall Over 1% Each

-FMCG Supports market with Britannia, Tata Cons Being Top Nifty Gainers

-BPCL Rises On Reports Of Global Bidders, Stock Closes With A Gain Over 1%

-Reliance Top Nifty Contributor With 22 Points; Co Sets Up New Energy Council

-Autos Continue To Fall On Chip Shortage Concerns, Maruti At over 3-month Low

-Stocks To Be Added In F&O Tomorrow Gain With HAL, Can Fin & Dixon Gaining 2-6%

Aug 26, 2021 3:36 PM

Closing Bell | The Indian equity benchmark indices ended flat Thursday amid mixed global cues. The Sensex ended 4.89 points, or 0.01 percent, higher at 55,949.10, while the Nifty gained 2.25 points, or 0.01 percent, to close at 16,636.90 on the monthly F&O expiry day. Broader markets outperformed the frontliners as the midcap and smallcap indices ended higher. In the August series, Sensex gained 6.1 percent and the Nifty added 5.3 percent.

Among sectors, gains were seen in FMCG, private banks, financial services and realty indices, while metals, IT, pharma and auto sectors witnessed selling. Britannia Industries, Tata Consumer Products, BPCL, HDFC Life and Reliance Industries were the top Nifty50 gainers, while Bharti Airtel, JSW Steel, Maruti Suzuki, Hindalco Industries and SBI were the top index losers. Read here.

Aug 26, 2021 3:35 PM

Amarjeet Maurya, AVP - Mid Caps, Angel Broking

Today Bharti Airtel Ltd stock is down around 4 percent which provides buying opportunity to long term investors. In 1QFY22, Bharti Airtel has shown healthy revenue growth of 12 percent and adjusted profit growth of around 102 percent. Going forward, we expect Bharti Airtel to report healthy top-line and bottom-line growth on the back of a strong brand, growth in customer additions, and improvement in ARPU due to an increase in tariffs rate. Hence, we are positive on the stock.

Aug 26, 2021 3:27 PM

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