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Surprising Inflation Trims Blue Chip Gains, Caution Among Investors
Hotter-than-expected domestic inflation kept investors cautious as the blue chips trimmed intraday gains.
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Dear Trader…
Hotter-than-expected domestic inflation kept investors cautious as the blue chips trimmed intraday gains. The BSE Sensex rose 165 points or 0.25 per cent to settle at 65,559, while the Nifty Future surged 13 points or 0.07 per cent to end at 19,474.
FII and FPIs, on Thursday, saw a net purchase of Rs 2237.93 crore in the cash segment. A total of Rs 7890.13 crore was sold against a total purchase of Rs 10128.06 crore. Domestic institutional investors saw a net sale of Rs 1196.68 crore in the cash segment. A total of Rs 9426.35 crore was sold against a total purchase of Rs 8229.67 crore.
Technically, the important key resistances placed in July Nifty future are at 19474 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 19530 – 19606 levels. Immediate support is placed at 19373 – 19303 levels.
Ø Trading Idea for the derivative stocks….
- HDFC BANK @ Positive Trend with Stop loss of Rs @ 1606 for the Target near @ Rs 1663 - 1670 in short term…..!!
- TATA COMM. @ Positive Trendwith Stop loss of Rs @ 1560 for the Target near @ Rs 1606 - 1616 in short term…..!!
- HAVELLS INDIA @ Positive Trend with Stop loss of Rs @ 1244 for the Target near @ Rs 1288 – 1295 in short term…..!!
- SUN PHARMA @ Positive Trend with Stop loss of Rs @ 1060 for the Target near @ Rs 1084 - 1090 in short term...!!
- INFOSYS LTD @ Negative Trend with Stop loss of Rs @ 1404 for the Target near @ Rs 1355 - 1347 in short term...!!
- TVS MOTOR @ Negative Trend with Stop loss of Rs @ 1373 for the Target near @ Rs 1313 - 1303 in short term...!!
- CIPLA LTD @ Negative Trend with Stop loss of Rs @ 1037 for the Target near @ Rs 1003 - 990 in short term…!!
- AXIS BANK @ Negative Trend with Stop loss of Rs @ 994 for the Target near @ Rs 948 - 940 in short term...!!
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