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Jul 19, 2021 4:48 PM

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

The short term trend of Nifty seems to have turned down, after a display of lack of strength at the new highs. The overall chart pattern signals chances of the market sliding down to the crucial support of 15,635 levels in the short term. But, there is a higher possibility of Nifty moving below this support over the period of time. Any upmove from here could find selling pressure around 15,825 levels.

Jul 19, 2021 4:47 PM

Ajit Mishra, VP - Research, Religare Broking

Markets started the week on a feeble note and lost over a percent, tracking unsupportive global cues. Besides, the subdued result of the banking heavyweight, HDFC Bank, was also weighing on the sentiment. We’re mirroring the global indices as the lingering fear of the third wave has been haunting markets now and then. Besides, participants are closely eyeing the earnings and reacting sharply to any disappointment. With this decline in the index, we may see further consolidation ahead. Meanwhile, we reiterate our view to continue with a stock-specific trading approach while keeping a check on leveraged positions.

Jul 19, 2021 4:42 PM

Sugandha Sachdeva, VP- Commodity & Currency Research, Religare Broking

The Indian rupee has slipped lower to test three-month lows in line with the sell-off witnessed in the domestic as well as global equities. The sentiments have soured amid the rising spread of the highly contagious Delta variant of the COVID-19 virus, which is likely to hold back the pace of global economic recovery. Besides, the current burst of high inflation seems to be more persistent, rather than 'transitory' as the Fed thinks. This is leading the investors towards the safety of the greenback which is trading near its highest level in months. As for the domestic currency, since it has breached the crucial support of the 74.90 mark, we envisage it to drift lower towards 75.50 in the near- term.

Jul 19, 2021 4:42 PM

Here are key stocks that moved the most on July 19

Barring Nifty Realty and Nifty Pharma, all other indices ended in the red with private banks, metals, financial services, auto and PSU Banking indices falling the most.

Jul 19, 2021 4:41 PM

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

Domestic markets witnessed a steep fall after last week's sharp rally as market participants resorted to profit-taking although the reaction to the weakness in the global market was mild. Banking and financial stocks faltered sharply and dragged the markets, even as metal, pharma and real estate stocks overcame the hurdles. Although the Nifty survived at 15,700, the closing level was not encouraging. In addition, the market failed to close above the support levels of 20 days SMA and EMA that was around 15,785 and 15,765 levels, respectively. On Tuesday, the market must hold above the levels of 15,600. On the dismissal of the same, the Nifty would fall to 15,500 and 15,450 levels. We need Nifty to cross the levels of 15,840 levels for the bullishness in the market. Our advice is to buy in select stocks with a medium-term view.

Jul 19, 2021 4:22 PM

Sumeet Bagadia, Executive Director, Choice Broking

Nifty Index incurred losses amid weak global cues, a rise in Covid cases in parts of Asia and OPEC+ deal to inject more oil into the market to power the global economic recovery. On the Technical Front, the Index has formed Doji candlestick pattern as well as confirmed the Hanging Man Candlestick pattern which suggests negative movement for tomorrow. Moreover, the Index has given closing below 21DMA, which further adds weakness in the counter. Hourly Momentum Indicator MACD is also showing negative crossover which suggests weakness for the next day. At present, the Nifty is having support at 15,600 levels while resistance comes at 15,900 levels.

Jul 19, 2021 4:16 PM

Rupee At Close | The Indian rupee fell 31 paise to end at 74.88 against the US dollar amid a sharp selloff in domestic equities and strengthening of the greenback overseas. The local currency opened lower at 74.73 per dollar as against its previous close of 74.57 and traded in the range of 74.71 - 74.92.

Jul 19, 2021 4:16 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty fell on July 19 after a weak opening following negative cues from Asian markets. An attempt to recover from the morning lows failed to gain momentum and the Nifty closed not very far from the intraday low. Nifty has fallen sharply with a downgap and the next support is 0.8 percent away. Retail investors may review their portfolios and start raising some cash/book profits partly. In case the Nifty settles and starts to rise again they could find another set of stocks to ride on.

Jul 19, 2021 4:06 PM

Manish Shah, Founder, Niftytrigger.com

Nifty had a very volatile trading day as the index saw a rollercoaster ride. Nifty opened the day lower by 170 odd points and then we see a Doji. The expected breakout seems to have failed as Nifty has turned back below the 15,900-15,950. What this means is that Nifty is back within the trading range of 15,600-15,900. The support for Nifty is at 15,600. For Nifty traders, this is a well-established range. Buy around 15,600 and sell around 15,950. Or wait till there is a clean breakout in either direction.

Jul 19, 2021 4:02 PM

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

15,600 on the Nifty is a crucial level of support. If that holds on a closing basis, the market trend remains bullish. On the upside, a target of 16,100 continues to remain open. Hence, dips and intraday corrections should be used to initiate long positions with a stop loss below the level of 15,600.

Jul 19, 2021 3:54 PM

Market At Close | NTPC, BPCL, Divi’s, Nestle, Tata Cons gain in a weak trading session

Jul 19, 2021 3:53 PM

Market At Close | Market breadth mildly favours declines; advance-decline ratio at 1:1

Jul 19, 2021 3:52 PM

Market At Close | Sensex & Nifty record biggest fall in nearly 3 months; financials top losers

Jul 19, 2021 3:52 PM

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

- Sensex & Nifty Record Biggest Fall In Nearly 3 Months; Financials Top Losers

- HDFC Bank Is The Biggest Contributor To Nifty & Nifty Bank On Downside

- Nifty Falls 171 Points To 15,752 & Sensex 583 Points To 52,557

- Nifty Bank Slips 673 Points To 35,079 & Midcap Index 226 Points To 27,625

- 42 Nifty Stocks Close In The Red; HDFC Bank & IndusInd Bank Top Losers

- Lower-than-expected Q1 Leads To A Fall Of Over 3% In HDFC Bank

- Banks See A Rub-off Effect Of HDFC’s Weak Q1; All Nifty bank Constituents Slip

- Bharti, Voda Idea Remain Volatile On AGR Hearing Update

- NTPC, BPCL, Divi’s, Nestle, Tata Cons gain In A Weak Trading Session

- L&T Financial Holdings Slip Over 4% After A Weak Set Of Earnings For Q1

- Market Breadth Mildly Favours Declines; Advance-Decline Ratio At 1:1

Jul 19, 2021 3:35 PM

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