Is Nifty drifting away from new record high

On last Wednesday Nifty 50 shares have made historical close of 9,532 levels. Though Nifty went less than a percentage from it’s record high, there are 38 shares which went down more than Nifty. Is Nifty shares not supporting the Index? Is Nifty drifting away from record high?

Ideally the shares compositing has to go up for the index to do better. It is not the case for Nifty over the last three days. The heavy weight shares such as ITC, TCS, INFY, HDFCBANK & LT are holding the Nifty. The on worst hand side the stocks like AUROPHARMA, EICHERMOT, TECHM, AMBUJACEM and BOSCHLTD are beaten down heavily.

The Nifty closed below its 5-days exponential moving average, at 9,438 on Monday, up 10 points, but have created bearish candle in the daily candlestick chart. The overall trend remains positive as long as Nifty holds the important level of 9,400.

The June series 9,500 call options have 6.5 million shares in open interest, the 9,300 put options have 6.4 million shares open interest. Looking at the options data, it is heavily likely that Nifty will close the June series between 9,300 to 9,500 levels.

Symbol Name High as of May 17 Close as of May 22 Change Change %
NIFTY 50 Nifty 50 9532.60 9438.25 -94.35 -0.99%
ITC I T C Ltd 284.40 303.60 19.20 6.75
TCS Tata Consultancy Services Ltd 2460.75 2531.35 70.60 2.87
WIPRO Wipro Ltd 517.50 521.20 3.70 0.71
HDFCBANK HDFC Bank Ltd 1565.40 1576.00 10.60 0.68
HINDUNILVR Hindustan Unilever Ltd 1012.00 1018.60 6.60 0.65
INFY Infosys Ltd 958.45 961.45 3.00 0.31
HCLTECH HCL Technologies Ltd 855.30 857.45 2.15 0.25
ADANIPORTS Adani Ports and Special Economic Zone Ltd 354.80 354.45 -0.35 -0.10
CIPLA Cipla Ltd 566.00 563.10 -2.90 -0.51
TATAMOTORS Tata Motors Ltd 452.50 449.65 -2.85 -0.63
LT Larsen & Toubro Ltd 1764.00 1751.95 -12.05 -0.68
AXISBANK Axis Bank Ltd 506.75 502.30 -4.45 -0.88
ZEEL Zee Entertainment Enterprises Ltd 525.70 520.35 -5.35 -1.02
COALINDIA Coal India Ltd 278.00 273.85 -4.15 -1.49
SUNPHARMA Sun Pharmaceutical Industries Ltd 653.00 640.15 -12.85 -1.97
ICICIBANK ICICI Bank Ltd 310.20 303.85 -6.35 -2.05
INFRATEL Bharti Infratel Ltd 396.50 387.95 -8.55 -2.16
BHARTIARTL Bharti Airtel Ltd 380.90 372.55 -8.35 -2.19
KOTAKBANK Kotak Mahindra Bank Ltd 962.40 941.25 -21.15 -2.20
NTPC NTPC Ltd 161.80 158.20 -3.60 -2.22
TATASTEEL Tata Steel Ltd 499.00 486.40 -12.60 -2.53
TATAMTRDVR Tata Motors Ltd DVR 273.30 265.15 -8.15 -2.98
RELIANCE Reliance Industries Ltd 1365.95 1324.15 -41.80 -3.06
LUPIN Lupin Ltd 1306.10 1265.95 -40.15 -3.07
HDFC Housing Development Finance Corporation Ltd 1570.95 1519.85 -51.10 -3.25
HEROMOTOCO Hero MotoCorp Ltd 3683.95 3562.45 -121.50 -3.30
IBULHSGFIN Indiabulls Housing Finance Ltd 1088.85 1052.60 -36.25 -3.33
POWERGRID Power Grid Corporation of India Ltd 209.70 202.50 -7.20 -3.43
MARUTI Maruti Suzuki India Ltd 6979.00 6701.70 -277.30 -3.97
ASIANPAINT Asian Paints Ltd 1159.00 1112.55 -46.45 -4.01
INDUSINDBK IndusInd Bank Ltd 1448.30 1389.30 -59.00 -4.07
BAJAJ-AUTO Bajaj Auto Ltd 3047.50 2914.15 -133.35 -4.38
TATAPOWER Tata Power Co. Ltd 86.00 82.05 -3.95 -4.59
SBIN State Bank of India 308.80 294.30 -14.50 -4.70
ULTRACEMCO UltraTech Cement Ltd 4489.95 4269.60 -220.35 -4.91
HINDALCO Hindalco Industries Ltd 200.35 190.25 -10.10 -5.04
ONGC Oil & Natural Gas Corporation Ltd 186.65 177.15 -9.50 -5.09
BPCL Bharat Petroleum Corporation Ltd 734.00 695.60 -38.40 -5.23
YESBANK Yes Bank Ltd 1483.95 1405.80 -78.15 -5.27
IOC Indian Oil Corporation Ltd 449.90 425.35 -24.55 -5.46
DRREDDY Dr. Reddy’s Laboratories Ltd 2760.00 2608.70 -151.30 -5.48
GAIL GAIL (India) Ltd 412.90 390.20 -22.70 -5.50
M&M Mahindra & Mahindra Ltd 1384.35 1306.25 -78.10 -5.64
BANKBARODA Bank of Baroda 193.75 182.80 -10.95 -5.65
GRASIM Grasim Industries Ltd 1175.75 1107.45 -68.30 -5.81
ACC ACC Ltd 1729.50 1626.85 -102.65 -5.94
BOSCHLTD Bosch Ltd 24555.65 23081.70 -1473.95 -6.00
AMBUJACEM Ambuja Cements Ltd 260.25 243.35 -16.90 -6.49
TECHM Tech Mahindra Ltd 443.50 412.35 -31.15 -7.02
EICHERMOT Eicher Motors Ltd 29300.00 27189.90 -2110.10 -7.20
AUROPHARMA Aurobindo Pharma Ltd 624.00 575.15 -48.85 -7.83

Muthuraj Paulraj

Passionate about investing and trading in Options.

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