Markets traded upbeat and gained over half a percent, tracking favorable global cues. After the gap-up start, it hovered in a narrow range in the first half and inched marginally higher as the day progressed. We witnessed a lackluster movement in the market in the range 15750-15800. Global cues are upbeat however support from the banking pack is critical for any sustainable up move in the Nifty index. Besides, participants will also be eyeing the results of the IT major, Infosys Ltd, scheduled on Wednesday i.e. July 14. Amid all, we feel it’s prudent to maintain focus on the selection of stocks and managing overnight risk until we see the resumption of the uptrend. 15800 will be a keep resistance level. If the market breaches and sustains above the level, we can witness a positive movement in the market till the level of 16100-16150. On the sectoral front, all the major sectors have been trading in a positive zone. Sun Pharma and ICICI Bank are the top gainers while Adani Ports and HCL Tech are the top losers on Nifty. The Sensex closed 397 points higher at 52769 while the Nifty ended with a gain of 120 points, at 15812.
More
about intraday tips Whatsapp On 9039542248
Resistance: 15700, 15800, 15900
Support: 15600, 15500, 15400
No comments:
Post a Comment