Sensex Ends 6-Day Record Streak

Domestic market benchmarks the Sensex and the Nifty snapped their six-day winning streak on strong losses in index heavyweights including Infosys, Reliance Industries, TCS and Hindustan Unilever (HUL) on Friday (July 21). Following weak global cues, Sensex saw a gap-down opening. index finally closed with a loss of 888 points, or 1.31 per cent, at 66,684.26 while the Nifty Future ended with a loss of 193.90 points, or 1.17 per cent, at 19,776.

Mid and small-caps substantially outperformed the benchmark index. The BSE Midcap index closed 0.26% lower while the Smallcap index closed with a gain of 0.13%. The BSE Smallcap index hit its fresh all-time high of 34,198.82 during the session. The overall market capitalisation of firms listed on BSE dropped to about Rs. 302.1 lakh crore from nearly Rs. 304 lakh crore, making investors poorer by nearly Rs. 1.9 lakh crore in a single session.

FII and FPIs, on Friday, saw a net sold of Rs. 1998.77 crore in the cash segment. A total of Rs. 12019.17 crore was sold against a total purchase of Rs. 10020.40 crore. Domestic institutional investors saw a net purchase of Rs. 1290.73 crore in the cash segment. A total of Rs. 9241.75 crore was sold against a total purchase of Rs. 10532.48 crore.

Technically, the important key resistances placed in July Nifty future are at 19776 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 19838 - 19880 levels. Immediate support is placed at 19707 - 19676 levels.

Ø Trading Idea for the derivative stocks….

• GRASIM IND. @ 1804 Positive Trend with Stop loss of Rs @ 1764 for the Target near @ Rs 1822 - 1830 in short term…..!!!
• ACC LTD @ 1766 Positive Trend with Stop loss of Rs @ 1730 for the Target near @ Rs 1794 - 1808 in short term…..!!!
• HDFC BANK @ 1680 Positive Trendwith Stop loss of Rs @ 1644 for the Target near @ Rs 1694 - 1707 in short term…..!!!
• INDUSIND BANK @ 1409 Positive Trend with Stop loss of Rs @ 1388 for the Target near @ Rs 1433 - 1440 in short term…..!!!
• HAVELLS INDIA @ 1303 Positive Trend with Stop loss of Rs @ 1288 for the Target near @ Rs 1323 - 1330 in short term...!!
• SBI LIFE @ 1292 Negative Trend with Stop loss of Rs @ 1320 for the Target near @ Rs 1277 - 1265 in short term...!!!
• MUTHOOT FIN. @ 1291 Negative Trend with Stop loss of Rs @ 1330 for the Target near @ Rs 1277 - 1265 in short term...!!!
• HCL TECH. @ 1117 Negative Trend with Stop loss of Rs @ 1145 for the Target near @ Rs 1097 - 1088 in short term...!!!
• SUN PHARMA @ 1098 Negative Trend with Stop loss of Rs @ 1130 for the Target near @ Rs 1077 - 1065 in short term...!!!
• GODREJ CP @ 1059 Negative Trend with Stop loss of Rs @ 1102 for the Target near @ Rs 1047 - 1033 in short term...!!

Disclaimer ;- The securities quoted are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Before act Please Agree Disclaimer, Terms & Condition, Privacy Policy & Agreement on https://www.nikhilbhatt.in (Education Purpose Only)