DII's buy for a whopping Rs.2187.8 crores! Reliance Q1 results out. FII's continue selling.

Good evening everyone, the week finally concluded with our portfolios in green after DIIs bought for a whopping 2187 cr today while the FIIs continued to sell to the tune of 163 cr today.

If you look at the data for July 2021, FIIs have sold for Rs. 12368 crores to date & DIIs have bought for a net of Rs. 10187 crores in the Indian market. This shows the continuous confidence in DIIs due to which they continue to buy and keep the market stable in spite of so much selling by the FIIs.

If you look at the day, Nifty closed very close to where it opened again leaving us in a dilemma for Monday. But the icing on the cake is that Reliance has come up with good positive results though they have been down slightly YOY. However, we need to wait till Monday to know what will the effect on the Nifty due to this.

On a daily chart, Nifty shows an indecisive candle today and we have to wait for the trend confirmation on Monday.

Sector Watch:

Almost all sectors closed in green today except Auto, Energy, Infra & media. The banks finally took a break from the continuous fall they had been on, but this might also be due to short covering due to the weekend.

Top Gainers:

Again our favourite ITC has appeared not just in the top 10 gainers list, but this time it is on the second position over the confidence in the scrip due to result prediction for Q1 tomorrow. Let's wait to see what happens tomorrow. Otherwise, we could see banking stocks like ICICI & SBI in the top gainers list along with our favourite HCL & Sunpharma that we entered this week.

Top Losers:

Among the top losers were Tata Motors, which continued to fall and settle below its crucial support of Rs. 300 level. We need to wait and watch when to average the same once it settles below. Let's discuss more at our weekend meeting tomorrow evening at 7 pm. Good bye.