The week ending 6th Aug 2021 experienced a new All Time High at 16349 levels and ended at 16238 up by 3% on weekly closing basis and Bank Nifty once again failed to sustain the psychological level of 36000 and made a high of 36219 levels but ended below that at 35809 up by 3.5% on weekly basis. BankNifty and Nifty gave a good rise from the lows it made on 28th July a Day before the July Months Expiry. Nifty rose from 15513 to 16349 and Bank Nifty gave a rise from 34115 to 36219 levels.
| Top Weekly Gainers | ||
| Name | LTP | %change |
| Eicher Motors | 2747 | 8.6% |
| Bharti Airtel | 607.90 | 8.2% |
| HDFC | 2628 | 7.7% |
| Top Weekly Losers | ||
| Name | LTP | %change |
| UPL | 777.30 | 3.9% |
| Bajaj Finserv | 14005 | 1.5% |
| Grasim | 1531 | 1.3% |
Results in Coming Week.
| 09-Aug-21 | 12-Aug-21 |
| PETRONET | TATASTEEL |
| SHREECEM | ASHOKLEY |
| MRF | HEROMOTOCO |
| INDHOTEL | EICHERMOT |
| 10-Aug-21 | BHARATFORG |
| JINDALSTEL | AUROPHARMA |
| SIEMENS | IRCTC |
| LUPIN | PFC |
| MFSL | PAGEIND |
| TRENT | NMDC |
| POWERGRID | BPCL |
| MANAPPURAM | 13-Aug-21 |
| MOTHERSUMI | GRASIM |
| COALINDIA | GLENMARK |
| 11-Aug-21 | IGL |
| BATAINDIA | GMRINFRA |
| PIDILITIND | ONGC |
| CUMMINSIND | APOLLOHOSP |
| CADILAHC | SUNTV |
Nifty
Entire July Month the index has traded in a range of 500 points 15500-15970 range. From the start of the Aug series the bulls have rejoiced with a rise of 836 points in a very few days and now the index has entered in Overbought zone. It may touch 16547 levels (the flick high it made on 5th July) but one needs to remain cautious while creating long positions at current levels. Since it has closed above the previous months range. It may come down to retest the higher range of previous month – 15962 levels (this becomes a strong support for the index). Nifty’s immediate Support levels should be 16188 / 16107 / 16026. And on upside its resistance should be 16350 / 16564 / 16650 and Higher.
Bank Nifty
Bank Nifty has also traded in a range the entire July month and a multiple times it has tried to sustain above 36000 levels but it just crossed and failed to sustain above these level. Still waiting for it to close and sustain above these level and many banks will be outperformers. Once it sustains its resistance should be 36500 / 36930 / 37230 / 37700 / 38026. Immediate support for the index should be 35855 / 35464 / 35266.
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