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Nifty bank: HDFC Bank, IndusInd to see highest inflows on Bank Nifty rejig indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Analysts said that the August series trend will be dictated by corporate earnings and the monsoon session of the Parliament. But unless the financials start gaining, the index will struggle to go beyond 16,000-16,100. They see the index moving in a range of 15,400-16,000 in the immediate term, with the metal index possibly gaining 8-10% more after breaking out of a 13-year price range. Nifty and Sensex ended the July series with a 0.1% loss. The Nifty Real Estate index gained 15% and Metal index gained 14%. The Auto index was the worst performer with a loss of 6%. Bank Nifty fell 0.4% during July series. ....
What should investors do? Within Nifty there will be sectorial level rotations and we expect underperformance from the banking index as Bank Nifty has significant resistance at 36,000; meaningful upsides would happen only if the Bank Nifty is able to take out this level. Traders can initiate short strangle option strategy in Nifty by selling 15,700 put and 16,150 call for July 22 weekly expiry. Among stocks, MCX can be bought for a 25% upside/10% stop loss for the next 3-4 months as the price has exceeded the falling channel pattern with a bullish candle on a volume surge indicating strong breakout. Rahul Sharma, Head, Techniical & Derivatives Research, JM Financial ....
Read more about FPIs hike exposure to banking and financial stocks, exit in IT in May on Business Standard. The month saw a sharp turnaround in fortunes with overseas investors selling shares worth nearly $900 million during the first half and pumping in close to $500 million during the second ....