Daily Stock Market Report: September 05

The trading range seems to be narrowing in the daily timeframe, indicating a lack of momentum and market uncertainty. Read on to learn more.

Daily Stock Market Report: September 05

The Nifty50 opened on a positive note with a gap up of 35.85 pts (+0.18%) and stayed sideways within the range of 19600 - 19500 levels throughout the day.

By the end of the trading session, the Nifty 50 closed with +0.24%.

  • Over the last 2 days in the daily time frame, we’ve seen narrow-ranged candles, indicating a lack of momentum and indecision in the market. For a healthy up move, we need momentum to kick in.
  • Currently, it appears that the price is trading within a range of 19600-19200, and should it reverse from 19600, we anticipate the sideways movement to continue.

Spot Signals

Below are the Top Movers from our Live Market Feed:

  1. ASHAPURMIN (+5.07%)

2. SURYODAY (-3.43%)

Quant Signals

Talking about Quant models, under the most popular configuration, 'Back Up' didn’t generate a signal today as it didn’t meet its quantitative metrics. However, 'Quick Short' closed with a return of +1.39%.

Data Points


Calls - Strike Price

Puts - Strike Price

Max OI



The highest CE OI is at 19600, and PE at 19500 levels. This means markets are expected to revolve around these levels in the upcoming sessions.

Levels Worth Monitoring Tomorrow

  • Looking at both data and price action, 19600 seems like a key level to watch in the next session.
  • If the Nifty50 breaches the 19600 level, the path to 19800 may open up. However, if it retreats from 19600, expect a sideways movement.

Data and price action suggest that the 19600 level could be a challenge for the bulls. Hence, we can expect a sideways to bearish trend in the upcoming session.

Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before making any investment decisions.

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