Review & Preview @4PM —— Monday, August 12th 2024

# The Good News: The intraday volatility did not indicate that the sky is about to fall.

# Amidst Hindenburg-Sebi row, Nifty struggles to maintain intraday bullish momentum.

# The Good News: The intraday volatility however did not indicate that the sky is about to fall.

• NIFTY (-21, 24347)
• Sensex (-57, 79649)
• Bank Nifty (+93, 50578)

# Sentimental Overview:

• If there’s a big lesson from today’s ructions, then its eventually corporate India’s results matter, also economic data will matter most, and the truth is that the Indian economy is doing pretty well and good shape.
• The best part is that our stock markets are not reacting to any terrible headwinds in any negative manner for more than one day.

# What’s in store for This Week:

# Looking ahead, this week has the potential to be another volatile one for Nifty and its stocks.

• The highly anticipated July US Consumer Price Index (CPI) report will be released Wednesday.
• The July US Retail Sales report is scheduled for release on August 15, 2024.

# Technical Overview:

• Well, Nifty bounced back from intraday nervousness forming almost a Doji candle on the daily charts, indicating bullish consolidation shall be the preferred theme in the near term.
• The immediate goalpost for Nifty continues to be at 24630. Please note confirmation of strength only above Nifty 24630 mark.
• The line in the sand is at Nifty’s make-or-break support at 24100 mark.
• Nifty’s 200 DMA at 22145 mark.

# Outperfoming Nifty Sectors:

• NIFTY REALITY (+1.32%)
• NIFTY METAL (+0.74%)
• Nifty Oil & Gas (+0.55%)

# Underperforming Nifty Sectors:

• NIFTY MEDIA (-1.99%)
• NIFTY PSU BANKS (-1.13%)
• NIFTY FMCG (-0.75%)

# Buzzing stocks:

• Ola Electric shares hit 20% upper circuit for 2nd day, hits record high at RS. 109-mark.
• Dr Reddy’s Labs shares drop 1.76% at Rs. 6855 after US FDA issued an establishment inspection report (EIR) to the company, for its manufacturing facilities (FTO-7 and FTO-9) in Duvvada, Visakhapatnam, Andhra Pradesh.
• Sun TV Network tumbles 10.6% on weak Q1 earnings; with revenue down 3.2% Y-o-Y at Rs 1,276 crore.

#  Bulls of the day:

• ONGC (+2.59%)    
• HEROMOTOCORP (+2.15%)
• AXISBANK (+1.80%)
• JSWSTEEL (+1.53%)
• DIVISLABS (+1.46%)

# Bears of the day:

• ADANIPORTS (-2.33%)
• NTPC (-2.16%)
• DRREDDYS (-1.76%)
• BRITANNIA (-1.59%)
• ADANIENT (-1.46%)

*Disclaimer:* This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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