1. US Markets are Negative With -1.27 change

2. EUROPEAN Markest are Positve

3. ASIAN Markets are Mixed and Little Positive Side

4. Japan's Q2 GDP revised down to annualised 28.1% contraction

5. The Nifty FMCG and IT indices gained 0.57 percent each, while    other sectoral indices closed flat with a negative bias

6. FIIs and DIIs Both are Sellers  

7. FII and DII data

   Foreign institutional investors (FIIs) net sold shares worth Rs    6.93        crore, while domestic institutional investors (DIIs) net    offloaded    shares worth Rs 815.82 crore in the Indian equity    market on September 7,    as per provisional data available on the    NSE

8. Bank Nifty was almost 500 points lower than last Monday low.

   Because of this, SGX Nifty is lower despite positive Asian clues.

9. Dow future recovered all their losses and trading in Green now.

10.But still Nasdaq is trading in Red.

11.That is not bad as money will be moving from Technology stocks to Non    Technology stocks.

12.That is sector rotation.

13.Sector rotation happens in bull market.

14.There are some negatives specific to India.

15.One, DIIs keep selling heavily every day.

16.Usually high volatile market will be the sign that market tops out or    bottoms out.

17.Due to huge volatility yesterday, yesterday's low should be the low for    this series, if there is no negative news from the border

18.Nifty is likely to consolidate between 11350 and 11550 for next few days.

   There seems to be firing at India-China border which has not happened in     last 40 years.

19.Though China side claims that it is a waning shot, tensions bound to rise.

20.This kind of things happening even after defense ministers of both    countries met during the last week end.

21.In fact SGX Nifty is trading negative, if that is an indication, India will    be the only country to open negative in Asia.

22.K V Kamath Committee recommendation may be a non event for Banking stocks.

23.Freight loading: Indian Railways registers over 10% jump, earns Rs 129.7    crore more

24.Nifty future may trade between 11300 and 11450



Key support and resistance levels on the Nifty :

According to pivot charts, the key support levels for the Nifty is placed at 11,277.4, followed by 11,199.8. If the index moves up, the key resistance levels to watch out for are 11,406.9 and 11,458.8.


Nifty Bank :

The Bank Nifty continued to underperform the Nifty, falling 66.50 points to 22,945 on September 7. The important pivot level, which will act as crucial support for the index, is placed at 22,737.83, followed by 22,530.57. On the upside, key resistance levels are placed at 23,130.73 and 23,316.37.



6 stocks under F&O ban on NSE :


BHEL, Canara Bank, Indiabulls Housing Finance, Vodafone Idea, Jindal Steel & Power and Punjab National Bank are under the F&O ban for September 8. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.​


 Nifty 


   Support      11240     

  

   Resistance   11420   


 BankNifty 


   Support      22640    

  

   Resistance   23300  



NEWS :


Economic Times

Business Standard


Ø  Maruti Suzuki India reports 11% rise in production in August


Ø  RBI constituted KV Kamath committee names 26 sectors for restructuring


Ø  August power demand close to last year low base level


Ø  Air passenger traffic grows around 25% sequentially in August: Icra


Ø  World economy unlikely to re-attain pre-pandemic output levels before 2022: Report


Ø  Government to sell 15% stake in Bharat Dynamics through OFS


 Ø  Risks to economic recovery rise as Covid-19 infection rate spikes: Moody's


Ø  RBI announces OMO for sale, purchase of govt securities of Rs 10,000 cr


Ø  Happiest Minds IPO subscribed nearly 3 times on first day of issue


Ø  ED arrests Chanda Kochhar's husband in money laundering case


Ø  UK court rejects plea seeking partial reporting ban in Nirav Modi case


Ø  Voda Idea to seek shareholders' nod to raise borrowing limit to Rs 1 trn


Business Line

Mint

Ø  L&T evaluating tech for CO2-to-methanol plant


Ø  SBI plans to hire more than 14,000 employees


Ø  LIC Act likely to be amended to facilitate public issue


Ø  Asset quality concerns, defaults see MFs slash exposure to NBFCs


Ø  Delhi HC orders SpiceJet to pay ₹242.9 crore to Kalanithi Maran, KAL Airways


Ø  Financial service providers must engage openly with fintechs, says Finmin


 Ø  Global Multidimensional Poverty Index: Niti to leverage monitoring mechanism


Ø  Vodafone Idea new brand identity ‘Vi’ reflects spirit of integration


Ø  Banks sanction loans of ₹1.61 lakh cr to MSMEs under credit guarantee scheme


Ø  Sebi sets March 31 as cut-off date for re-lodgement of share transfer requests


Ø  India to maintain sugar export subsidies for third year in a row: Report


Financial Express

Deccan Chronicle


Ø  China’s export growth quickens in August, imports edge lower


Ø  RBI to set up innovation hub for finance sector


Ø  Freefall in Q1 GDP hits companies’ sales, profits; non-banking, non-finance cos take maximum blow


 Ø  Mutual fund redemption pressure continued in August


Ø  Boris Johnson gives October 15 deadline for Brexit deal


Ø  UNICEF to lead global procurement, supply of COVID-19 vaccines