Nifty Mid-Market-Update: Europe trade mixed while Hang-Seng settled down Nikkei

Nifty Mid-Market-Update
Nifty Mid-Market-Update

08-06-2020 Mid-Market-Update:- Nifty moves, Stocks to Trade, FnO Action and Much More. Europe trade mixed while Hang-Seng settled down Nikkei ended up, Abott India appoints Mr Anil Joseph as MD. Midattech Pharma is in discussions. Nifty manages holding on to 10100 mark, Indian MF saw inflow of Rs.56.2Bn in the month of May* 

As of 14:30hrs, Nifty Open-10326.75, High- 10328.5, Low- 10120.25 and Last- 10169. Nifty had swung around 200 points from the day’s high while Nifty managed to top at 10,328.5 at open, while the NiftyBank had punched a high of 21807.4 and dragged down to 20911.25 with Midcap and Smallcap Index up all major indices are still in green, India VIX however is down 2.5% to 28.94.

Among the Sectoral Indices, Pharma and Media Index now the losers all other indices are with IT leading the pack. Among the Frontline stocks, IDEA, GIC, AshokLey, IBHousing and GAIL remains the top gainers with Idea up above >13%, Exide remains the top Nifty laggard followed by Indigo, Zee, Voltas and ShreeCem in Nifty200 Stocks.

On the FnO Space we have VIX up at 29.95% IDEA as top gainer followed by IBhousing and AshokLey while Exide is top loser followed by Indigo and Zee. On the Open Interest (OI) front we have Long Built-up seen in JustDial, CholaFin, iBHousing, Titan and BajFinance while Short Built-up seen in Exide, MuthootFin, IGL, PVR  and TorntPower. Abott India reported a net profit of Rs. 1.1bn with a Dividend of 107 per Share.

Over the next hour we see Nifty having Support at 10136, 10103, 10074, 10042 and 10012. Resistances are placed at 10198, 10226, 10272 and 10314. Bank Nifty is critical support of 20886 and Resistance of 20349. MARUTI cash below 5698 can test 5671 and 5648 with SL of 5741 (CMP 5726) and Indigo cash below 1108 (CMP 1118) can test 1097 and 1081 with SL above 1123.2.