Analysis & Key Levels for July 26, 2021

Analysis for July 26, 2021

  1. On Friday, once the market opened, there was a fall of 100 points in Nifty within a span of 15 minutes. Banknifty was the main culprit in triggering the fall.

  2. But, the market was quick to recover and then shot up another 125 points and finally closed at 15845 (Nifty Futures).

  3. As I have been mentioning over the last few weeks, any fall towards 15700 is being bought into and the price has not closed below 15700 in the last 8 Weeks in the Weekly timeframe.

  4. India VIX was down by another 1% on Friday. Still near its all-time low.
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  5. 40% of the stocks in the broader market ended in green.
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  6. Nifty Next 50 looks stronger than Nifty 50 and Nifty Mid Cap. Nifty Next 50 stocks have been the top performers over the last month.

  7. IT, FMCG, METAL & REALTY were the best performers last week.
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  8. Watch out for stocks in the Nifty Next 50 under the IT, FMCG, METAL & REALTY buckets. We might see some bullish action in the coming week.

  9. Global Markets are all in green except Hong Kong. Asian Markets (Japan & China) have been underperforming global markets. We might see a rebound this week.

  10. FIIs sold for 163 crores and DIIs bought for 2188 crores. The magnitude of selling by FIIs has dropped significantly in the last 2 trading days.
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  11. FIIs have also reduced their short positions on the Index.

  12. With respect to Open Interest, there is still a huge CALL build-up at 16000. More calls were added on the last trading day at 16000 indicating immediate resistance at 16000.

  13. The market participants are still not confident about writing PUTs. Max PUTs were added only at 15000.

  14. A close above 15932 on the upside or a close below 15700 on the downside might lead to the next big move in Nifty Futures.

With this, we head on to the key levels for tomorrow.


Key Levels for Nifty Futures July 26, 2021

  • Bulls to control above 15867. Targets on the upside are 15893, 15914, 15931.

  • Bears to control below 15842. Targets on the downside are 15815, 15794 & 15770.

Note: The levels are based on Nifty Futures chart. Click here to see how to use the Key Levels.


Nifty Futures Chart (5-minute Timeframe)

All these data points are available in the Finvezto App. Check out the App here.

If you are looking for Banknifty, Reliance & Infosys Key Levels, please check here.


What is your market view for July 26, 2021 with respect to Nifty?

  • Bullish
  • Moderately Bullish
  • Sideways
  • Moderately Bearish
  • Bearish

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