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Aug 12, 2021 4:38 PM

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

The short term uptrend status of Nifty remains intact with range bound action. The overall chart pattern of Nifty and the positive reversal in broad market indices could hint at a possibility of an upside breakout of the small range in Nifty in coming sessions. The next upside levels to be watched are 16,500 and immediate support is placed at 16,290 levels.

Aug 12, 2021 4:34 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty broke upwards, as expected, post a 6-day range close. The advance decline ratio has turned sharply positive bringing relief to market participants. Broad market indices like smallcap and midcap indices have outperformed the Nifty. There could be a day or two of follow-up upmove for the Nifty (though gradual) while the broader markets continue their upward retracement.

Aug 12, 2021 4:32 PM

Rahul Sharma, Co- Founder, Equity99

Nifty today has shown good strength and on daily charts, we can see that it is bulls dominated market now where Bulls are preventing the bears from pushing down the prices. Recovery in Smallcap & Midcap was phenomenal; going ahead Nifty tomorrow will have immediate support at 16,325 followed by 16,300-16,220 levels and on upside 16,400 will be next resistance followed by 16,450- 16,500 levels.

Aug 12, 2021 4:31 PM

Palak Kothari, Research Associate, Choice Broking

On the technical front, the Nifty index has been trading in a Higher High, Higher Low pattern and given a breakout of the previous high which suggests upside movement will continue in the upcoming session. The Index has been trading above all the moving averages as well as MACD & RSI are also showing positive crossover on daily time frame which further adds strength to the index. At present, the nifty index has immediate resistance at 16,360 levels while downside support shifted up to 16,400 levels.

Aug 12, 2021 4:30 PM

Here are key stocks that moved the most on August 12

The Sensex rallied 318.05 points, or 0.58 percent, to close at 54,843.98, while the Nifty ended 82.15 points, or 0.5 percent, higher at 16,364.40.

Aug 12, 2021 4:29 PM

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

Markets were on a strong footing throughout the session despite weak Asian market cues. After a firm opening, benchmark Nifty soon cleared the intraday resistance of 16,300. The broader market activity ratio also improved, as nearly 1450 stocks traded in the green whereas over 300 stocks witnessed selling pressure. Technically, on daily charts, the index has formed a range breakout formation which suggests the continuation of an uptrend wave in the near future. We are of the view that 16,280/16,220 would be a key support level for trend following traders. Above the same, the range breakout formation is likely to continue up to 16,400/16,475 levels.

Aug 12, 2021 4:13 PM

Manish Shah, Founder, Niftytriggers.com

Nifty closed the higher and has popped out above the box; i.e. the range between 16,360-16,150. The close of Nifty was at the highest level for the day. Though a range expansion candle would have been better. The highlight for the day was a strong reversal in mid-cap and small-cap indices. Both these indices have shown a green candle and they show a ‘bullish morning star’ pattern. Outperforms in small and mid-cap space could see increased momentum in the coming days.

Nifty seems to be on track to hit around 16,500 odd levels over the next couple of days. If the range breakout holds there should be immediate upsides over the next couple of sessions. The mechanical trend direction determining mathematical studies are still bullish. MACD is in a bullish mode and so is the directional movement index. R3 pivot on the monthly and weekly R1 pivot are have confluence around 16,450-16,470. This is where Nifty could see a pause. Nifty is on a fast track for more upsides and the fireworks could be seen in the index going into the next week. We remain bullish as long as nifty trades above 16,200.

Aug 12, 2021 4:04 PM

Vinod Nair, Head of Research at Geojit Financial Services

Market breadth continued to be skewed in favour of the bulls amidst mixed global cues and strong support from IT, power and utility stocks. Chinese jitters over tightening regulatory scrutiny of online insurance companies were outweighed by the slowdown in pace of the US inflation data and rebound in UK GDP numbers. US consumer price inflation stood at 5.4% YoY in July, unchanged from June’s data, taking some heat out of concerns over early tapering by the Fed. UK GDP grew by 4.8% QoQ in Q2 as activity and demand rebounded with the easing of covid restrictions.

Aug 12, 2021 3:58 PM

Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed the continuation of the positive trend, and an attempt to breach the level of 16,350, after a reversal from the support level around the Nifty 50 Index level of 16,200 yesterday. The market sustains above the level of 16,350, the market expects to gain momentum, leading to an upside projection till 16,450-16,500 level. The momentum indicators like RSI and MACD indicating a positive outlook to continue.

Aug 12, 2021 3:46 PM

Market At Record | Market ends higher, Sensex & Nifty back at record levels. Market breadth in favour of advances with the advance-decline ratio at 4:1.

Aug 12, 2021 3:44 PM

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

- Market Ends Higher, Sensex & Nifty Back At Record Levels

- Sensex Ends At A Record High Of 54,844, Nifty At 16,364

- Nifty Midcap Index Recovers Losses From Yesterday’s Session, Ends 300 Points Higher

- Nifty Bank Ends At 35,937 With ICICI Bank Contributing Most To Its 130-pt Gain

- Power Grid, Tech Mah & Tata Motors Ends As Top Nifty Gainers While Eicher Is Top Loser

- Bharat Forge Ends At Record High After Upbeat Management Commentary On Q2 Outlook

- BPCL Under Pressure, Ends 0.4% Lower After Q1 Margin Comes In 200 bps Lower QoQ

- IRCTC Board Announces A Stock Split In Ratio Of 1:5, Stock Ends At A Record High

- Canara Bank Rises In Final Moments Of Trade After Srcs Say Co May Launch QIP Next Wk

- Market Breadth In Favour Of Advances With Advance-Decline Ratio At 4:1

Aug 12, 2021 3:40 PM

Closing Bell | The Indian equity benchmark indices ended higher Thursday led by strong gains in IT, PSU banks and realty stocks. The Sensex rallied 318.05 points, or 0.58 percent, to close at 54,843.98, while the Nifty ended 82.15 points, or 0.5 percent, higher at 16,364.40. Broader markets, smallcap and midcap indices outperformed the benchmarks, ending 2.12 percent and 1.01 percent higher, respectively.

Among sectors, PSU Bank, IT, realty, media, auto and financial services indices rose the most, while Nifty Pharma ended in the red. Power Grid Corporation, Tech Mahindra, Tata Motors, HCL Technologies and L&T were the top Nifty50 gainers, while Eicher Motors, Dr Reddy’s Laboratories, IOC, Cipla and ONGC were the top index losers.

Aug 12, 2021 3:35 PM

Aug 12, 2021 3:27 PM

July premium for general insurance industry up 17.5% year on year

If one looks at the data for the general insurance companies in the month of July, one pattern that can be noticed is that all these general insurance companies have seen a recovery in the month on a year-on-year basis. But if the recovery is to be mapped compared to the average of the first quarter of FY22, then there is a significant amount of drop as far as the premium collection is concerned. In the month of July, the premium is up 17.5 percent on a year-on-year basis in the general insurance industry but when compared to the first quarter of FY22, it is down 17.5 percent. Continue reading.

Aug 12, 2021 3:25 PM

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