BEST STOCK FUTURE TRADING TIPS FOR MONDAY 18 JULY 2022

 BUY POWERGRID  FUT 2 LOTS ABOVE 211 TARGET 214.5/219  SL 206

SELL POWERGRID FUT 2 LOTS  BELOW 209 TARGET 205.5/202 SL 214

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NIFTY FUTURE LEVEL FOR MONDAY 18 JULY 2022

"BUY NIFTY FUTURE 2 LOTS ABOVE 15930 TARGET 16050/16253 STOPLOSS 15817"

The Nifty went on a four-day losing streak on Friday, ending above its 50-day simple moving average. The index formed a bullish candle with a long lower wick on the daily chart, suggesting a hammer-like reversal candle. With that, the index has also negated the lower high-low it has made over the past few sessions. The index formed an inside bar candle on the weekly chart, signaling a loss of momentum. Analysts said the index has support around the 15,850 level while they see resistance for the index above the 16,200 level. It's a sell-on-rise market. At yesterday's intraday low of 15858, the index tested the lower end of said ascending channel and recovered. Therefore, a hold above the 15,858 level may help the Nifty make efforts to consolidate at the 15,950-16,275 levels. A close above 16150 can confirm the strength. A close below its 20-day SMA (15,843) may signal the resumption of the decline off the recent high of 16,275.

Nifty stumbled near several technical parameters over the past week, near 16,200. It has been hovering near the 16,000 level for the past few sessions. An inside bar has formed on the weekly chart, indicating a loss of momentum. The near-term support zone for the index is 15,850-15,900. Once this is breached, the index may slip towards 15,500. From a trading perspective, sell on rise will be the strategy for short-term traders with a reversal above the 16,275 swing high. It seems that the markets are not too keen on going further down. This is a sign of accumulation. Nifty needs to move and hold above 16,050-16,100 to confirm the bottom is in.

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WIPRO BUY OR SELL???

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Nifty edged higher in today's midday trade amid weak global sentiment on fears of a likely aggressive rate hike by the US Federal Reserve. Sensex is up about 50 pts to 53480. Nifty50 is idling around 15960. The broader markets also posted modest gains. Mid-cap and small-cap indices rose 0.4% and 0.1%, respectively. The biggest drag on the market continues to be FII sales, which have topped $30 billion so far this year. But this month FIIs were buyers for 2 days including yesterday. This means that some FIIs have started buying into segments where valuations have become attractive.

After not-so-impressive results from IT major TCS, the entire IT package seems to take a hit. Yesterday, TCS broke below INR 3,000 and fell to its lowest level in 16 months. Today, Wipro, another large-cap IT stock, fell below its key support of INR 400 to a low of INR 391.05, its lowest level in the last 18 months.Nifty IT itself has dipped to its lowest level since May 2021, making it clear that weakness in IT isn't limited to a few counters. Over the past month, Wipro shares are down 10.4%, TCS is down 6.88%, Infosys and Tech Mahindra are down 0.79% and 5.89%, respectively. .

Getting back to Wipro's stock price, the stock has fallen for the past 6 straight sessions and is down 6.55% this week alone as of 12:50 PM IST. In mid-autumn, the stock convincingly broke its main support of INR 400 by a fair margin and is trading comfortably below. If the stock closes below this support today, the breakdown would be confirmed on the weekly chart, which is a much more encouraging signal than a breakdown on a lower time frame like a daily chart. 

Options data also points to a bearish view. At 400 CE there was a massive increase in open interest at over 1,000 contracts. This is the exact level taken out today and option sellers do not expect Wipro shares to rise above INR 400 by the close of July 28, 2022. A put resolution was also witnessed in today's session as the stock fell to its lowest level in 18 months. The highest OI is at the ITM 400 PE with over 1.7k contracts which has started to unwind in today's session and as the stock would fall more short positions would be liquidated at that strike price.

On the weekly chart, the next support appears to be around INR 380. These are the levels last seen in 2020. Given the weakness across the IT space, Wipro stock could continue falling, at least until the next support.On the downside, however, the stock has also started forming a bullish divergence at the 52-week low, which could lead to a possible recovery in the near term, but there are no signs of a reversal at this time. If one wants to profit from divergence, one needs to look out for reversal signals like bullish candles, breaking previous candle highs, etc. and wait for the momentum to reverse rather than trying to catch a falling knife.

 

23600/- PROFIT GIVEN INTRADAY FUTURE CALLS

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SR TRANSPORT FIN FUT ACHIEVED BOTH TARGET 1297/1307 

BUYING CALL GIVEN FROM 1287

BOOKED PROFIT OF  18000

                                   HAVELLS FUT ACHIEVED 1st TARGET @ 1267.50

UYING CALL GIVEN FROM 1257.50

BOOKED PROFIT OF 5000

UPL FUT ACHIEVED BOTH TARGET 658/654

 SELLING CALL GIVEN FROM  662

BOOKED PROFIT OF 15600

BEST STOCK FUTURE TIPS S FOR TODAY 15 JULY 2022

 BUY HAVELLS 2 LOTS ABOVE 1257.50 TG 1267.50/1277.50 SL 1245.50

 SELL UPL 2 LOTS BELOW 662 TG 658/654 SL 667

 BUY SR TRANSPORT FIN 2 LOTS ABOVE 1287 TG 1297/1307 SL 1276

IMPORTANT TRIGGERS AND NEWS IN NIFTY FOR TODAY

Things you should know before Nifty Open Today. Gear up your self with all important information pertaining to Stock Market before you Trade in Nifty future and Stock future. Take 5 min before equity market opening to check global clues, Nifty /Bank nifty Support Resistance Levels ,Stock results, Stock future in Ban and Important news. You may find Best Stock Futures to Trade Today also if you are lucky.

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World's market update

PRE-OPENING TODAY
👉 15986 UP BY 47.60 OR 30%

STOCK IN BAN TODAY
👉 DELTACORP

STOCK RESULTS FOR TODAY 
👉 L&T, FEDRAL BANK,JUST DIAL,JINDALSTEEL

NIFTY SUPPORT LEVEL 
👉 15741,15622.15501

NIFTY RESISTANCE LEVEL
👉 16060,16179,16479

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NIFTY FUTURE LEVELS FOR TOMORROW 15 JULY 2022

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 BUY NIFTY FUT 2 LOTS ABOVE 15950 TARGET 16040/16150 SL 15810

SELL NIFTY FUT 2 LOTS BELOW 15930 TARGET 15840/15730 SL 16070

Today nifty ended flat amid volatile trading but with losses for the fourth straight day. Indices were in the green on early deals but turned red in afternoon trade dragged by heavy selling pressure in IT, PSU banks and infra stocks. Sensex fell 445 points from the daily high before closing at 53,416.15, down 98 points. Nifty settled at 15,938.65, down 28 points or 0.18%. Midcap and Smallcap indices finished 0.4% and 0.6%, respectively. Aside from Auto and Pharma, most sectors were weak today in retail. Axis Bank, HCL Tech and SBI were the most prominent laggards, while Sun Pharma, ONGC and Dr. Reddy were the top winners. Meanwhile, the Indian rupee closed at 79.88 per dollar today, down 7 paise from the previous close.

16700/- PROFIT BOOKED IN TATACHEM & UPL FUTURE CALL

 TATA CHEM FUT ACHIEVED 1st TARGET @ 836 BUYING CALL GIVEN FROM 841 BOOKED PROFIT OF  5000

 UPL FUT ACHIEVED BOTH TARGET 661/658 BUYING CALL GIVEN FROM 664 BOOKED PROFIT OF  11700

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