Market action for the day

Market action for the day

Headline indices Sensex and Nifty closed with losses on July 27, mainly due to profit-booking in banking and financial stocks as worries over rising coronavirus cases and a surge in bad loans in 2020 weighed on investor sentiment.

Sensex closed with a loss of 194 points, or 0.51 percent, at 37,934.73 and Nifty settled 62 points, or 0.56 percent, lower at 11,131.80.

According to pivot charts, the key support level for the Nifty is placed at 11,071.4, followed by 11,011. If the index moves up, the key resistance levels to watch out for are 11,208.6 and 11,285.4. The Nifty Bank index closed with a loss of 3.59 percent at 21,848.75. The important pivot level, which will act as crucial support for the index, is placed at 21,544.04, followed by 21,239.27. On the upside, key resistance levels are placed at 22,410.84 and 22,972.87.

Nifty – Maximum call OI of 45.17 lakh contracts was seen at 11,500 strike, which will act as crucial resistance in the July series. Maximum put OI of 41.2 lakh contracts was seen at 11,000 strike, which will act as crucial support in the July series.

Nifty Chart

Markets Action in a nutshell

FII Activity

Stocks to watch for the day

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