Nifty closed at 5,647.40, up by 46.95 points or 0.84 percent over the previous day closing of 5,600.45, after witnessing a low of 5,606.10 and a high of 5,657.90. Sensex closed at 18,845.87, up by 152.01 points or 0.81 percent over the previous day closing of 18,693.86. It touched an intraday low of 18,723.14 and high of 18,873.39.
The markets’ breadth was positive. Out of 2,988 stocks traded, 1,507 stocks advanced, 1,337 stocks declined and 144 stocks remained unchanged. In Sensex, 21 stocks advanced, 8 stocks declined and 1 remained unchanged.
FIIs were net buyers with the tune of ` 1591.34 crore (prov. fig.)
FOR DETAILS, “READ HERE”.
VIEWS FROM DIFFERENT BROKING HOUSES:
FAIRWEALTH SECURITIES: “Next session’s range for the Nifty may be in between 5608-5693 if it breached the level of 5693 then the resistance may be at 5721 and the key resistance may be at 5752.The support for the Nifty may be at 5570 and crucial support for the day can be treated at 5552. Bank Nifty is expected to trade in the range 11140-11340. Above the given range 11380 may act as strong resistance while 11060 and 11000 may act as strong support levels for Bank Nifty”.
BONANZA ONLINE: “Nifty showed strength for 6th consecutive day, which shows that Bulls are having control at the moment with good volumes. Nifty also managed to close the month in green. Majority of largecaps are participating in the rally. However, Nifty may face resistance in 5650-5750 range and on downside support may also be seen in 5450-5550 range. For daily Purpose, Trend deciding level is 5650 .If Nifty shows strength above 5650 levels, then rally to 5700/5750/5800 levels may be seen. If Nifty does not show strength above 5650 levels then selling pressure till 5600/5550/5500 may also be seen”.GABA & GABA FINANCIAL ADVISORS PVT LTD (Prakash Gaba): “Technically the market is still up and so the next logical target beyond 5659 should be 5725 but since 5659 has been hit like a dot and so I would not be surprised with a reaction. The support for the Nifty is at 5600 and resistance at 5725. The crucial support on the Sensex on the downside is 18635 and resistance at 19080”.
ANGEL BROKING (Mileen Vasudeo): “On the daily chart the series of gaps indicates that the undertone is positive. Hence in coming trading session if indices trade above 18,880/5,660 then it may test 19,050-19,110/5,720-5,740 levels. On the downside 18,720-18,570/5,600-5,550 levels may act support for the day”.
IIFL (Amar Ambani): “July is going to be a crucial month as the latest corporate earnings, monsoon cues and RBI’s monetary policy meeting late in the month are likely to act as major catalysts. The NSE Nifty is still trading below the 200-day moving average - a crucial technical level. Ride the current upswing cautiously keeping in mind that most of the headwinds (both domestic and global) are yet to be conquered. The sentiment for the Indian market will hinge largely on two factors - policy action (or lack of it) and FII flows”.
BONANZA PORTFOLIO (Shanu Goel): “Nifty has trended upwards unabated for last six trading sessions. With the starting of new derivative series from July 1 onwards, the chances of Nifty consolidating in the range of 5,500-5,750 is high. Any new development in euro region regarding Greece debt crisis is likely to affect the market sentiments”.
KARVY STOCK: “The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow. Trade long in Nifty above 5,650 levels else above 5,620 levels, with stop loss placed at 5,600, targeting 5,680-5,700 levels. Alternatively, trade short below 5,600 levels, with stop loss placed at 5,620, targeting 5,580-5,550 levels”.
ANGEL BROKING (Daily Outlook): “The trend deciding level for the day is 18,814/5,637 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18,905–18,964/ 5,668-5,689 levels. However, if Nifty trades below 18,814/5,637 levels for the first half-an-hour of trade then it may correct up to 18,755–18,664/5,616-5,585 levels”.
BONANZA PORTFOLIOS (Puneet Kinra): “Nifty showed strength for sixth consecutive day, which shows that Bulls are having control at the moment with good volumes. Nifty also managed to close the month in green. Majority of largecaps are participating in the rally. However, Nifty may face resistance in 5,650-5,750 range and on downside support may also be seen in 5,450-5,550 range. For daily purpose, trend deciding level is at 5,650. If Nifty shows strength above 5,650 levels, then rally to 5,700/5,750/5,800 levels may be seen. If Nifty does not show strength above 5,650 levels then selling pressure till 5,600/5,550/5,500 may also be seen”.NIRMAL BANG SECURITIES: “The short term trend still remains very strong and positive but in the near term there is a possibility that we could see profit taking around the important resistance point of 5690-5711 levels, from where nifty could correct a bit. On the lower side, intra-day support placed at 5535-5490 levels where buying is sensible. Avoid buying into rallies. For the Sensex strong resistance seen at 19095-19200 levels and support placed at 18690-18480 levels. This current uptrend could turn negative only below 5490 till then any decline is a buying opportunity”.
SWASTIKA INVESTMART: “On daily charts, Nifty made a White Candlestick with almost equal upper and lower shadows. As per our last report, bullishness was seen in yesterday’s session after the formation of Rising Window Candlestick. The candle is formed above the trend line showing the resistance level of 5,600. Its formation is indicating some more up move for the coming sessions. The momentum oscillator MACD has come above the zero line while Stochastic is still lying in the overbought zone. For the coming trading session, on higher levels Nifty can face resistance at 5,670/ 5,700 while support for the day is seen at 5,620/5,590”.
HDFC SECURITIES: “Today, we expect the Indian Markets to open on a positive note and remain rangebound with a positive bias. Support on Nifty is at 5,600 while resistance is at 5,700 levels. Among the sectors, Metals, IT and FMCG could do well while Banking stocks could underperform”.
FOR TECHNICALS/DAY CALLS, “READ HERE”
No comments:
Post a Comment