Riddhi Siddhi Share Brokers Latest after the Bell @ 4.00 PM – | Riddhi Siddhi News & Updates - No Advt

Riddhi Siddhi Share Brokers Latest after the Bell @ 4.00 PM – Monday, August 29th 2022.

Its sea of red at Dalal Street as Fed choses inflation flight over growth.

# Nifty (-246, 17313).
# Sensex (-861, 57973)

Nifty plunged and ended deep in red as bears were seen in total control after Jerome Powell at his Jackson Hole appearance mentioned that interest rates may continue to rise to combat inflation.

Powell also stated that failure to restore price stability would mean far greater pain.

Meanwhile, RIL’s AGM announcement to roll out 5G services across Mumbai, Delhi, Kolkata by Diwali 2022 too failed to light up sentiments. RIL ended 1.10% lower.

The only positive take away was that the USD/INR was trading flat after spiking to 80.13 in morning trade.

Amongst sectoral indices, for the day, Bank Nifty ended 1.68% lower as against Nifty’s losses 1.27%. Meanwhile, Nifty IT index was major underperformer, down 3.40% followed by Nifty Media, down 2.18% while the only gainer was Nifty FMCG index, up 0.53%.

# Nifty’s Major Gainers: BRITANNIA (+1.72%) MARUTI (+124%) NESTLE (+0.91%)

# Nifty’s Major Losers: TECH MAHINDRA (-4.49%) INFY (-3.79%) WIPRO (-2.89%).

# Adv-Dec 12 —— 38
# Nifty PCR 1.46
# BANK NIFTY PCR 1.17
# INDIA VIX 19.82 (+8.83%)
# Nifty MidCap (-0.91%, 8401)
# NiftySmallC (-0.89%, 9511)
# BANK Nifty (-1.82%, 38277)
# Nifty IT (-3.40%, 27718)
# USD/INR (+0.01%, 79.96)

RIDDHI SIDDHI SHARE BROKERS OUR VIEW FOR TUESDAY’S TRADE:

Technically speaking, Nifty line on the sand is at 17161 mark. In case of Nifty ‘s major support at 17161 mark collapses, the next big support seen only at 16911 mark.

For Tuesday’s session, Nifty’s major hurdles are at 17507 mark. Buying advised only above 17757 mark.

ALL ABOUT NIFTY:
Support: 17161/16911
Resistance: 17507/17757
Range: 17150-17500
21 DMA: 17519
50 DMA: 16646
200 DMA: 16995
Trend: Neutral.

BULLISH LOOKING STOCKS:
# AARTI INDUSTRIES
# TATA CONSUMER
# CONCOR

BULLISH LOOKING STOCKS (LONG TERM):
# BANK OF BARODA
# GRSE
# COAL INDIA

BEARISH LOOKING STOCKS:
# BIOCON
# GLENMARK
# VOLTAS

STOCKS TO AVOID:
# FSL
# MOTHERSON SUMI
# IPCA LAB


Stay Tuned.


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.