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Aug 30, 2021 4:43 PM

Ajit Mishra, VP - Research, Religare Broking

Markets regained momentum and settled with gains of nearly one and a half percent, tracking firm global cues. The surge in the index was led by the banking and financials pack today, which look upbeat to maintain the bias. Going ahead, the upcoming macroeconomic data i.e. GDP numbers and auto sales numbers will be in focus for further cues on economic recovery. We expect the prevailing uptrend to continue and suggest keeping the focus on the selection of stocks.

Aug 30, 2021 4:41 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty closed once again at the all-time high. It is now near the 17,000 psychological mark. The sharply positive advance-decline ratio has improved sentiments, though participants are aware of the high valuation and possibility of a correction that can set in soon. 17,000 is the next logical target for the Nifty while 16,731 is the support for the near term.

Aug 30, 2021 4:38 PM

Here are key stocks that moved the most on August 30

The Sensex rallied 765.04 points, or 1.36 percent, to end at 56,889.76, while the Nifty closed at 16,931.05, up 225.85 points, or 1.35 percent.

Aug 30, 2021 4:38 PM

Rupee At Close | The rupee surged by 40 paise to close at 73.29 against the US dollar, supported by a firm trend in domestic equities and a weak American currency. The local unit opened strong at 73.46 against the greenback and later gained strength to settle at 73.29, higher by 40 paise over its previous close of 73.69. The local unit moved in a range of 73.21 to 73.54 in the day trade.

Aug 30, 2021 4:35 PM

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

The rupee/dollar clocked back-to-back losses as spot closed 42 paise lower at 73.26, lowest levels since mid-June. Dovish comments from the US Fed chairperson last Friday has added fuel to fire. Risk on rally in stocks and commodities and weakness in the US Dollar against Asian currencies pushed the pair lower. RBI may have intervened. Over the near term, USDINR can trade with a downward bias within a range of 73.00 and 73.60 levels on spot

Aug 30, 2021 4:24 PM

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

Nifty witnessed a spectacular rally rallying over 200 points after the breakout of the 16,700 level. The texture of a breakout continuation formation suggests an uptrend wave is likely to continue in the near future. For the day traders, the support has shifted from 16,700 to 16,800-16,850 levels. On the flip side, markets may take a temporary pause near 17,000-17,050 levels due to an extended rally while intraday charts suggest the market is in an overbought situation. As long as the index holds the 16,800 level, the uptrend formation could continue up to 17,000-17,050 levels, whereas on the downside, below the 16,800 level uptrend would be vulnerable.

Aug 30, 2021 4:14 PM

Rahul Sharma, Co-Founder, Equity99

Nifty has formed big white candle, crossing all of the intermediate highs and made fresh record high levels of 16,951. All parameters on technical charts are on the bullish side. This type of formation on charts are indicating that bulls are on charge coming session will bring further highs and might cross 17,000 levels, Nifty on the downside has a strong immediate support at 16,900 followed by 16,825 & 16,775 levels, on the upside 17,000 will remain a big physiological hurdle & further 17050 – 17,150 will be levels to watch as profit booking might also hit the Nifty.

Bank Nifty which looks more promising after a long consolidation is coming out of range and with strong volumes we are witnessing big momentum in the index, on hourly charts we have seen huge breakout near 36,200 levels. Now 36,200 will act as strong support followed by 36,000 & upside hurdle is placed at 36,550 followed by 36,750 & 36,900 levels.

Aug 30, 2021 4:08 PM

Manish Shah, Founder, Niftytriggers.com

Nifty closed the day sharply higher as the market bounced rallied on the back of strong international markets with a massive improvement in sentiment. Nifty has traded above a minor consolidation and this pause before the breakout does have more legs in it. This seems to be a continuation gap and continuation gaps can continue in the direction of the breakout for some time.

Nifty has shown a widespread candle that has the widest range in the last several days. The candle has hit the Weekly R2 level at 16,940 and if the index sustains past this we are likely to see a move higher towards 17,030-17,050. There could be a couple of sideways down days. Any fall in the Nifty towards the 16,850-16,760 zone is a buying area. Ride the trend and avoid taking counter-trend short trades.

Aug 30, 2021 4:05 PM

Sachin Gupta, AVP-Research, Choice Broking

On the daily chart, the Nifty50 index has breached the prior resistance of 16,700 and moved towards the new milestone of 17,000 marks. Moreover, the index has also closed above the upper band of the Bollinger formation, which suggests a bullish presence in the counter. The index has been trading above all the important key indicators, which adds positive strength further. At present, the nifty index has immediate support at 16,700 levels while resistance may come around 17,000 levels.

Aug 30, 2021 3:53 PM

Market At Close | Positive commentary leads to a gain of over 4% in Bharti Airtel

Aug 30, 2021 3:53 PM

Market At Close | BSE companies gain market cap of over Rs 2.4 lk cr today & Rs 12 lk cr in August.

Aug 30, 2021 3:49 PM

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

-Market Surges To Record High Following Strong Global Cues

-Sensex Hits Intra-day Record High Of 56,958 & Nifty 16,951.50

-Nifty Bank Gains More Than 2% With All Of Its Constituents In The Green

-Nifty Gains 226 Points To Close At 16,931 & Sensex 765 Points To 56,990

-Nifty Bank Rises 720 Points To 36,348 & Midcap Index 537 Points To 28,242

-Heavyweights Lead Market; RIL, ICICI, HDFC Bk, Axis & HDFC Top Nifty Contributors

-43 Nifty Stocks End In The Green; Bharti, Axis, Divi’s, Tata Steel Top Gainers

-Positive Commentary Leads To A Gain Of Over 4% In Bharti Airtel

-Autos Rise Ahead Of August Auto Sales, Maruti Rises Over 4%

-IT Underperforms In A Strong Trading Session, Tech Mah & Infy Top Losers

-Stocks Added To F&O Last Wk See Hiuge Gains, Polycab IndiaMART, IEX Up 8-12%

-BSE Cos Gain Market Cap Of Over Rs 2.4 Lk Cr Today & Rs 12 Lk Cr In August

Aug 30, 2021 3:42 PM

Closing Bell | The Indian equity benchmark indices ended at record closing highs led by strong buying across sectors amid positive global cues. The Sensex rallied 765.04 points, or 1.36 percent, to end at 56,889.76, while the Nifty closed at 16,931.05, up 225.85 points, or 1.35 percent. Broader markets, the midcap and smallcap indices outperformed the headline gauges.

Barring Nifty IT, all the other sectoral indices ended with strong gains with metals, banking, pharma, auto and realty indices rallying the most. Bharti Airtel, Divis Laboratories, Axis Bank, Tata Steel and Coal India were the top Nifty50 gainers, while Tech Mahindra, Eicher Motors, Nestle India, Infosys and Wirpo were the top index losers. Read here.

Aug 30, 2021 3:35 PM

Buzzing | L&T Finance Holdings share price gains on MF arm stake sale reports

Shares of L&T Finance Holdings gained 3 percent after CNBC-TV18 reported that the company is in advanced talks with HSBC to sell its mutual fund arm. The sale of L&T Mutual Fund has been in the works for a while, people with direct knowledge of the development told CNBC-TV18. It is understood that both the parties have signed an exclusivity period for these deal talks to fructify.

Aug 30, 2021 3:23 PM

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