The market registered decent gains last week. The trading sentiment, however, was fragile amid escalating trade war tensions and firmness in crude oil prices. The Indian stock market
was shut on Wednesday, 22 August 2018, on account of Bakri Id.
In the week ended Friday, 24 August 2018, the Sensex gained 303.92 points or 0.80% to settle at 38,251.80. The Nifty 50 index rose 86.35 points or 0.75% to settle at 11,557.10. The BSE Mid-Cap index rose 246.30 points or 1.51% to settle at 16,552.74. The BSE Small-Cap index fell 1.78 points or 0.01% to settle at 16,864.43.
Trading for the week began on positive note. Domestic stocks
logged strong gains on Monday, 20 August 2018, on steady buying demand in index heavyweights. The barometer index, the S&P BSE Sensex
, gained 330.87 points or 0.87% at 38,278.75. The Nifty 50 index gained 81 points or 0.71% at 11,551.75. Positive global stocks boosted sentiment on the domestic bourses.
Macroeconomic data, trend in global markets, the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses in the near term. Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be monitored. Progress of monsoon will also be watched.
Trading could be volatile next week as traders roll over positions in the F&O segment from the near month August 2018 series to September 2018 series. The August 2018 F&O contracts expire on Thursday, 30 August 2018.
Nifty Levels and Nifty Trading Strategy
Nifty Traders may follow the below mentioned levels for 27.08.2018 to 31.08.2018
Buy above 11,570 for targets of 11,600/11,670
Sell below : 11,490 for targets 11,460/ 11,360
Disclaimer: All views expressed in this site are for reference only. Readers must consult their own investment adviser before taking any investment/ trading decision. We hold no financial liability to any user on account of use of information provided on this website. Due to the market’s volatile nature, the trader may/ may not get appropriate opportunity to execute the trades at the mentioned prices. Ace Investment Advisory hold’s no liability for any profit/ loss incurred whatsoever in this case.