From a price action point of view, the Nifty has broken out of a long consolation on the medium-term chart, so going ahead, the level of 15,960 should act as strong support. On the open interest front, the highest Call open interest addition is seen at 16,500 strike. On the Put side, good participation is seen at 16,000 strike. The broader range of the index may be 16,000-16,500. RSI plotted on the weekly timeframe remains above the 50-mark and is drifting higher towards the overbought level, indicating that the bulls are attempting to take control of the trend. We expect the bullish momentum to continue and take the prices higher towards 16,500 (50 percent extension level of the rise from 10,790-15,431, projected from the 14,151-mark). If it manages to breach above 16,500, we might see it move higher towards 17,019 (61.8 percent extension level of the rise from 10,790-15,431, projected from the 14,151-mark). 

Moneycontrol Podcast

3485: Hot Stocks | Tech Mahindra, HDFC, Siemens can give up to 17% return in short term

While the number of COVID-19 cases in India continue to stay high, academic sessions in institutes have continued online. Since physical exams are not feasible for all educational streams, online exams that are monitored by technology-led proctoring systems are becoming the new normal. But will it continue even in the post-COVID era? In this episode of Future Wise, Moneycontrol's M Saraswathy talks to Manish Mohta, Managing Director, Learning Spiral to find out the pros and cons. Listen in for more. 

3484: Future Wise | Is the online-proctored-exam system the new normal?

Nifty tested 16,350 level in intraday trade on August 10 on a fresh round of buying in IT and private bank stocks. TCS, Infosys, Tech Mahindra, Kotak Mahindra Bank, HDFC Bank and Axis Bank have added smart gains in the last few sessions. However, metal along with PSU banks remained low as profit booking near record highs capped upside. On the derivatives front, Put writers added hefty open interest at 16,200 strike and hold maximum contracts there. Call writers were seen adding open interests at 16,300, 16,400 and 16,500 strikes. For the coming sessions, we expect the bias to remain in favour of bulls as long as Nifty remains above 16,000. The banking index is facing a strong hurdle in the range of 36,200-36,400, above which, the index could continue its journey towards 37,000. 

3483: Hot Stocks | TCS, M&M, Cummins India can give up to 11% return in short term

The National Pension System (NPS) is set for a major overhaul in the weeks to come. For one, amendments to the Pension Funds Regulatory and Development Authority (PFRDA) Act are awaiting parliamentary approval. This will result in separation of PFRDA and the NPS Trust.  This apart, investment management charges are set to increase as is the number of pension fund managers. The pension regulator has already permitted pension fund managers to invest in IPOs, FPOs and offers-for-sale to offer a broader range of investment options to NPS subscribers. The FDI limit in pension fund management has been raised from 49 percent to 74 percent. To understand the rationale behind these major changes and what they mean for NPS subscribers, we are joined by PFRDA chairman Supratim Bandyopadhyay. Tune in to Simply Save for this exclusive interview. 

3482: Simply Save | More competition in pension fund space will benefit NPS subscribers: PFRDA chief

Dr. Saurabh Garg, CEO,  Unique Identity Authority of India (UIDAI), speaks with K. Yatish Rajawat, CEO of CIPP on how far the organization has come, how it has changed or evolved from its agile beginnings, to where it envisions itself in the future. 

3481: Aadhar has saved Rs 1.8 lakh crore in govt schemes--UIDAI CEO Saurabh Garg

Nifty has been consolidating in the range of 16,150-16,350 for the last three consecutive sessions. On August 3, Nifty registered a breakout from the huge consolidation which held the range of 15,500-15,963 for almost two months. Sometimes, previous resistance interchanges its role as a support and the same is the case with the Nifty at present. Earlier resistance of 16,000 would act as a support for the Nifty. The near-term target should be in the range of 16,450-16,500. This target is derived from adding the gap between the previous consolidation and the breakout levels. In the recent breakout of the market, Bank Nifty and financial service indices took the lead and broke out decisively on their medium-term charts. We expect these indices to outperform further from here. IT and metal indices are in continuation of an uptrend. Smallcap and midcap indices have lost the steam and turned weak on the short-term charts. Daily RSI exited the overbought zone with a big negative divergence which signals the weakness in these indices. So, for the short term, we can expect largecaps to outperform the mid and and smallcaps. The advance-decline ratio has been disappointing for the last four consecutive sessions. However, that does not mean the bull run has ended for the small stocks. Many stocks are reacting to their quarterly results and it is going to be so till August 15. Once the result season is over, we may again see the stock-specific bullish trend in selective stocks in the mid and smallcap segments. The last three session’s move in Nifty and Bank Nifty seems more like a temporary halt after a sharp rise. This can be seen as an opportunity to initiate fresh long positions. To conclude, we believe that the choppy trend has ended in the largecap space. We can expect Nifty to hit an upside target range of 16,450-16,500 in the short span of time. Post achieving this target, traders can hold longs with trailing stop-loss and ride the trend further. Nifty has got strong support in the range of 16,000-16,100. Dips should be utilised to create fresh longs in largecap stocks. However, the real opportunity is seen in financial stocks and private banks, PSU banks and NBFC can outperform. Traders should stay cautious in mid and smallcap segments as the short-term trend has turned weak. 

3480: Hot Stocks | RPG Life Sciences, Arvind Fashions, Jubilant Ingrevia can give up to 18% return

Nifty reached the magical figure of 16,000 in the week ended August 6. Barring the muted session of August 6, the Nifty had an excellent week, gaining 3 percent and moving towards the 16,300 mark. During last week, the benchmark index had a smart recovery from the lower range. Nifty Bank cooled off marginally towards the fag end of the last week. All eyes will be on this index because any sustainable move beyond 36,200 would result in an extension of its rally towards its record high. This will certainly bode well for the bulls as we may then see Nifty reaching or even moving beyond the next milestones of 16,400 – 16,500. Although the upward trend has resumed after a long consolidation, we would advise short-term traders to start lightening up positions if Nifty reaches 16,400 – 16,500 levels in the coming days. Prices have now started moving far away from some key moving averages on the quarterly timeframe charts. We are not at all advising to go against the current trend, but at least taking some money off the table on existing positions is a good ploy. As far as supports are concerned, 16,200, followed by 16,000 are likely to be the key levels for the benchmark index, whereas for Bank Nifty, support is visible around 35,500 – 35,200. Momentum traders are advised to take one step at a time and follow proper risk management. 

3479: Hot Stocks | 'Can bet on HCL Technologies, Amara Raja Batteries for short term'

This week, on the "The Private Market Show," meet Anand Chandrasekaran, Executive VP, and Product Management, Five9. Anand is one of the few angels with a stellar record. Apart from being a successful angel investor, Anand has led products globally for organizations like Facebook, Yahoo!, Snapdeal and the interesting thing is all of these products have 10M+ users. In this episode, he shares many stories from his angel investing journey and talks about the trends he sees in Angel Investing in the US and India. He ends the episode by recommending a couple of his favorite books. Want to know more? Tune in to the episode. 

3478: The Private Market Show | Stories from my angel investing journey

Artificial Intelligence (AI) is becoming a necessity, especially in the post COVID world. Corporates are continuously making products that increase productivity and cut time driven by AI and machine learning, Kshitiz Mahajan, Co-Founder at Complete Circle Consultants Pvt Ltd in a D-Street Talk podcast with Moneycontrol. Artificial Intelligence (AI) is the branch of computer sciences that emphasizes the development of intelligence machines, thinking and working like humans. For example, speech recognition, problem-solving, learning, and planning. Mahajan explores 6 companies that are using AI in their products. Note: The stocks mentioned are for education and not buy or sell recommendations:  BOSCH AI influences our lives and work, creating possibilities long thought of as impossible. By 2025 all Bosch products will either use AI or will be manufactured with AI. The Bosch Indego S+, for example, is a robotic lawn mower that can be voice-controlled via Amazon Alexa. Bosch SoundSee — a sensor system that uses AI-enabled audio analytics — checks the operating noise of machinery on the space station. Happiest Minds:  Happiest Minds Technologies Ltd, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency, and actionable insights. Happiest Minds enable digital transformation by deploying artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/augmented reality, etc. Cyient:  With a focus on accelerating digital transformation for industries, Cyient helps clients get business outcomes and not just new tools and technologies. The company collaborates with digital map developers to help them solve real-world issues in the automotive sector and make self-driven vehicles safer and smarter. Baidu, China’s largest search company, believes that in times to come, smart maps for autonomous vehicles will be a bigger business than web search. Affle India:  Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagement, acquisitions, and transactions through relevant Mobile Advertising. The company aims to enhance returns on marketing investment through contextual mobile ads and also by reducing digital ad fraud. Affle's Consumer platform is used by online & offline companies for measurable mobile advertising. Zensar Technologies: Zensar Technologies is betting big on artificial intelligence (AI). The push for AI comes from a belief that this technology is at a point where digital technologies were a few years ago. Zensar AIRLabs, is now completely focused on AI and has filed for 100 patents in the past two years. Saksoft:  The technology solutions range from Intelligent Automation, Legacy Modernisation, and Managed Infrastructure support, Advanced Analytics, and Quality Assurance, Saksoft is well placed to address and resolve almost every technology challenge that a client faces. (Tune into the podcast for more) Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 

3477: D-Street Talk | AI next big thing! Kshitiz Mahajan explores 6 companies that are using smart technology

Nifty has maintained its higher top higher bottom formation on the monthly charts and has formed a fresh lifetime high of 16,349.45. The index has given a consolidation breakout of the last eight weeks from 15,430 – 15,962 levels. The RSI plotted on the daily timeframe can be seen sustaining below the 60 mark which shows a lack of positive momentum for the short to medium term. The key support levels to watch out for in the short term are 15,960 (breakout level) and 15,513 (3-week low). On the upside, the key resistance level is 16,450 (potential upside target of consolidation phase). If the index sustains above this level, we might see it head higher towards 16,687 (138.2 percent extension level of the rise from 13,596-15,431, projected from 14,151). We believe that the long-term bullish trend remains intact and the Nifty will move towards 16,450 and 16,687 in the coming days. 

3476: Hot stocks | HCL Technologies, Kotak Mahindra Bank, HDFC can give up to 24% return in short term

Gig roles which are offered for a shorter duration was popular among a few sectors in India and gained prominence amidst remote working and flexi working during COVID-19. Even large companies were opening to hiring such talent, bringing good news for the job market. But will this trend continue? In this episode of Future Wise, Moneycontrol's M Saraswathy talks to Sudhakar Balakrishnan, Group CEO of FirstMeridian, an HR services and automation company​ to find out the gig work trends. Listen in for more. 

3475: Future Wise | Are gig jobs still in favour in India?

Nifty finally managed to breach the key psychological level of 16,000 on August 3 after making many attempts in the recent past. The breakout was seen with heavy volumes as Call writers were seen at 16,000 strike unwinding their positions while Put writers added hefty open interest at 15,900 and 16,000 strikes. Healthy buying in most sectors pushed domestic equities to record high levels. Heavyweights like SBI, ICICI Bank, ACC, HDFC, Axis Bank and Bajaj twins witnessed strong buying momentum which took the Indian market to record highs. On the technical front, Nifty has witnessed a fresh breakout on charts after almost two months of consolidation in the range of 15,500-15,900. In the coming sessions, we expect the momentum to continue towards 16,350-16,400 levels. We expect that Bank Nifty will also join the rally and move towards 35,800 levels from here on. However, on the higher side, once again 36,000 will act as a strong hurdle for the banking index. 

3474: Hot Stocks | Bata India, L&T, HCL Technologies can give up to 15% return in short term

On August 1, some diligent tax-payers who tried to file their income tax returns were in for a shock. The new e-filing portal, they realised, was demanding a penalty for late-filing. This, despite the income tax department having extended the due date from July 31 to September 30.​ Though such tax-payers were attempting to file returns well before the deadline, the new income tax portal demanded late-filing fees due to  technical malfunction.   This is not the first time that tax-payers have encountered such challenges. The finance ministry and the income-tax department have assured tax-payers that the glitches will be resolved soon. Should you go ahead and file your returns now or wait for a few weeks for the hiccups to be addressed? Tune into Simply Save to listen to tax expert Karan Batra’s advice on the approach you should adopt now. 

3473: Simply Save | Filing income tax returns ahead of September 30 deadline? Wait for glitches to be resolved

Nifty gained more than 100 points on August 2 on strong global cues to close at 15,885, its highest close since July 16. The index broke out from the downward slopping trendline yesterday, adjoining the highs of July 16 and July 26. It also filled the entire gap created on July 19. The benchmark index has resumed its uptrend and the possibility of it crossing 16,000 this time is very high. On the derivatives front, we have seen Put writing at 15,600-15,700 levels. The 50-day exponential moving average (EMA) is placed around 15,600 and this level will act as strong support. Traders should remain bullish and accumulate longs with the stop loss of 15,600 on a closing basis. On the higher side, once we cross the 16,000 level, Nifty may go to 16,300-16,400 levels in the coming weeks. Nifty Midcap and smallcap indices have broken out on the daily chart to close at all-time high levels. This year, they have outperformed by rising by 36 percent and 50 percent, respectively, against a 14 percent rise in the Nifty. We expect their outperformance to continue for the coming weeks and months also. Therefore, the focus of the traders should be on mid and smallcaps for higher returns. 

3472: Hot Stocks | Kaveri Seeds, Indian Hume Pipe, Rupa & Company can give up to 15% return in short term

Moneycontrol’s Karunya P. is in conversation with Siddharth Menon, co-founder & COO, WazirX delving into the nitty-gritty of investing in cryptocurrency and understand how do they work.

3471: Why do we need cryptocurrency?

The Moneycontrol Podcast is your daily source of business news, investment analysis and advice on stocks and the markets. Tune in to broaden your horizons with podcasts by journalists, experts and analysts giving you a head-start in the investment game.

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