Market action for the day

Market action for the day

Indian equity benchmarks opened in the green but failed to hold to their gains, ending in the red on August 13. Investors booked profits as valuations are no longer cheap and the earnings season is largely coming to an end.

The Sensex closed 59 points, or 0.15 percent, lower at 38,310.49 and the Nifty ended at 11,300.45, with a loss of 8 points, or 0.07 percent.

Nifty – According to pivot charts, the key support level for the Nifty is placed at 11,260.57, followed by 11,220.63. If the index moves up, the key resistance levels to watch out for are 11,349.87 and 11,399.23. Maximum call OI of nearly 23.21 lakh contracts was seen at 11,500 strikes, which will act as crucial resistance in the August series. Maximum put OI of 32.70 lakh contracts was seen at 11,000 strikes, which will act as crucial support in the August series.

Nifty Bank – Bank Nifty closed 0.30 percent lower at 22,196.35. The important pivot level, which will act as crucial support for the index, is placed at 22,077.3, followed by 21,958.3. On the upside, key resistance levels are placed at 22,377.6 and 22,558.9.

Nifty Chart

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FII Activity

Stocks to watch for the day

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