NIFTY BANKNIFTY TRADING IDEA FOR 1 AUGUST 2023

STOCK SUGGESTED BY US IN 29 JULY POST TO CHECK VISIT https://niftytipsniftylevels.blogspot.com/2023/07/800-pm-stocks-to-trade-on-31-july-2023.html

HINDCOPPER 8 %U P 

IPCALAB UP BY 4% UP

GAIL UP BY 4 %

BSOFT UP BY 3%

1 AUGUST 2023 RESULTS

Adani Total Gas Ltd 

Anupam Rasayan India Ltd

Cholamandalam Investment & Finance Company Ltd    

Escorts Kubota Ltd   

PVR Inox Ltd

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Nifty resumed the uptrend on July 31 after a two-day decline, helped by positive global signals and buying in IT and metals stocks. At the close, Nifty was up 0.55% or 107 points to 19753. Volumes on the NSE continued to be higher. Broad market indices rose more than the Nifty, despite the advance drop ratio rising to 1.93:1. Asian stock markets are mostly higher on Monday after broadly positive signals from global markets on Friday and hopes of more stimulus from Beijing for the ailing Chinese economy after a drop in factory activity in July. In Europe, equities were mixed as the eurozone returned to growth in the second quarter on the back of falling inflation, despite GDP growing 0.3% qoq. Headline inflation in the euro zone fell to 5.3% in July. Nifty rebounded after a two-day decline and is now moving towards the 19825-19875 range. In the fall, 19550 could provide support. The broader market is doing even better, even though the earnings season has peaked for two weeks. Nifty gained 2.94% in July. The bulls successfully defended the lower levels and found support around the 20-day moving average (20DMA) at 45500 in banknifty index, suggesting that they are poised to prevent further downside. On the other hand, bears have been holding strong around the 45600-45800 zone creating a significant area of ​​resistance. A break above this resistance zone would signal that the bulls are taking complete control and potentially take the index to new all-time highs. However, should the index break below the 45200 level, it may indicate further downside towards the 45,000-44800 level as the bears gather momentum and apply additional selling pressure.

Resistance: 19800, 19900, 20000

Support: 19700, 19600, 19500