Review & Preview @4PM —— Wednesday, August 14th 2024

The way Nifty moved in today’s session would have put a tortoise to shame. And you could also compare the market’s range with that of a porcupine’s spines.

Yep, absolutely listless.

Review & Preview @4PM —— Wednesday, August 14th 2024

• NIFTY (+5, 24144)
• Sensex (+150, 79106)
• Bank Nifty (-105, 49727)

• The way Nifty moved in today’s session would have put a tortoise to shame. And you could also compare the market’s range with that of a porcupine’s spines.
• Yep, absolutely listless.

# Sentimental Overview:

Nifty wavered in an uninspiring session.

• The benchmark Nifty was also uninspired by latest WPI inflation which cooled to 3-month low of 2.04% in July as food prices declined.
• Now, here is a gentle reminder that this Thursday, August 15th, our stock markets will remain closed on account of Independence Day celebration.

# The Next Two Big Catalysts:

# Technical Overview:

• After yesterday’s unwinding of long positions, the price action at Dalal Street was listless in today’s trade.
• If today’s wavering price action at Dalal Street is any indication then the short-term technical outlook for Nifty remains in favor of bears.
• Technically, confirmation of strength only above Nifty’s 21 DMA at 24497 mark.
• Nifty’s biggest support and downside risk could be at 23630 mark.
• Nifty’s 200 DMA at 22195 mark.

# Outperforming Nifty Sectors:

• NIFTY IT (+1.5%)
• NIFTY AUTO (+0.10%)

# Underperforming Nifty Sectors:

• NIFTY METAL (-1.19%)
• NIFTY PSE (-0.88%)
• NIFTY MEDIA (-0.82%)

# Buzzing stocks:

• GMR Airports Infrastructure dropped 1.75% to Rs 93.15 following a weak performance in Q1FY25 a the total loss attributed widened to Rs 141.65 crore from Rs 29.80 crore in the corresponding quarter of FY24.
• Marksans Pharma flared up 13% to hit a record high of Rs 217.40 after the company reported strong earnings for the June 2024 quarter (Q1FY25)
• HeroMoto Corp tumbled 3.16% to Rs 5080 despite a massive surge in its net profit as Q1 FY25 climbed 47.3% Y-o-Y to Rs 1,032 crore.
• (A robust recovery seen in the 110-125 cc motorcycle segment after the launch of Xtreme, sturdy demand for its electric scooter Vida, and the promising condition of the overall economy).

#  Bulls of the day:

• TCS (+2.29%)
• HCLTECH (+1.96%)
• TECHM (+1.47%)
• INFY (+1.25%)
• M&M (+1.16%)

# Bears of the day:

• DIVISLABS (-4.03%)
• HEROMOTOCORP (-3.17%)
• COALINDIA (-3.00%)
• ULTRACEMCO (-2.35%)
• DRREDDY (-2.14%)

ALL ABOUT NIFTY:

• Nifty (CMP: 24147)
• Support: 23891/23630
• Resistance: 24359/24630
• Range: 23900-24400
• 21 DMA: 24496
• 50 DMA: 24055
• 200 DMA: 22195
• Trend: Neutral

BULLISH LOOKING STOCKS:

• #  AUROBINDO PHARMA
• #  NAUKRI
• #  BHARTI AIRTEL

BULLISH LOOKING STOCKS (LONG TERM):

• #  TVS MOTORS
• #  BALRAMPUR CHINNI
• #  BAJAJ AUTO

BEARISH LOOKING STOCKS:

• #  DR REDDYS LAB
• #  AU BANK
• BHEL
• STOCKS TO AVOID:
• #  PEL
• #  NMDC
• #  PVR INOX

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. Returns mentioned herein are in no way a guarantee or promise of future returns. Stock market investments are subject to market risks.