InvestorQ : What is your trading view for the 12 August for Nifty and specific stocks?
Dia Deshpande made post

What is your trading view for the 12 August for Nifty and specific stocks?

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diksha shah answered.
4 months ago
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The rangebound movement in the Nifty continued with the Nifty gaining just 2 points on Wednesday. The movement has been extremely erratic but the good news is that the Nifty took support around 16,200 levels, which is an important base and bounced back sharply on Wednesday. However, the pressure of negative A/D ratio continues for now.

On Wednesday, the metals staged rebound but most of the banking stocks were under pressure. Of course, the big surprise package was Zomato which was up 9% on Wednesday despite the losses widening almost 3-fold in the quarter. Apparently, the markets were a lot more impressed by the decisive growth in the top line than worry about the bottom line.

On 11 August, the FPIs were net buyers of Rs238 crore while the DFIs were also net buyers of Rs206cr. However, what stood out is the volumes done by the FPIs and DFIs in the market at over Rs.13,000 crore each hinting at heavy block deals. Dow was sharply higher by 220 points on Wednesday.

Trading remains still buy on dips. The market again showed strength on Wednesday bouncing back from the 16,200 mark. Traders can use dips to buy with focus on commodity stocks.

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