Indian Equity Indices Settle At Fresh All-Time High For Sixth Consecutive Session

Dear Trader…

The Nifty future index ended 123 points or 0.62% higher at 19970.20, while the S&P BSE Sensex surged 474 points or 0.71% and ended at 67,572. Both the indexes recovered from a lacklustre start and hit new all-time highs for the fifth session in a row, with the Nifty 50 closing just below the 20,000 mark.

FII and FPIs, on Thursday saw a net purchase of Rs 3370.90 crore in the cash segment. A total of Rs 8052.83 crore was sold against a total purchase of Rs 11423.73 crore. Domestic institutional investors saw a net sold of Rs 193.02 crore in the cash segment. A total of Rs 8295.29 crore was sold against a total purchase of Rs 8102.27 crore.

Technically, the important key resistances are placed in July Nifty future are at 19970 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 20008 - 20088 levels. Immediate support is placed at 19909 - 19880 levels.

Ø Trading Idea for the derivative stocks….

• GRASIM IND. @ 1821 Positive Trend with Stop loss of Rs @ 1787 for the Target near @ Rs 1833 - 1840 in short term…..!!!
• HDFC BANK @ 1690 Positive Trend with Stop loss of Rs @ 1660 for the Target near @ Rs 1707 – 1717 in short term…..!!!
• INDUSIND BANK @ 1427 Positive Trendwith Stop loss of Rs @ 1388 for the Target near @ Rs 1444 - 1450 in short term…..!!!
• SUN PHARMA @ 1097 Positive Trend with Stop loss of Rs @ 1080 for the Target near @ Rs 1108 – 1120 in short term…..!!!
• CIPLA LTD @ 1047 Positive Trend with Stop loss of Rs @ 1023 for the Target near @ Rs 1060 - 1073 in short term...!!
• BATA INDIA @ 1673 Negative Trend with Stop loss of Rs @ 1707 for the Target near @ Rs 1660 - 1644 in short term...!!!
• TATA COMM. @ 1607 Negative Trend with Stop loss of Rs @ 1640 for the Target near @ Rs 1593 - 1580 in short term...!!!
• HAVELLS INDIA @ 1352 Negative Trend with Stop loss of Rs @ 1377 for the Target near @ Rs 1337 - 1320 in short term...!!!
• OBEROI REALTY @ 1079 Negative Trend with Stop loss of Rs @ 1120 for the Target near @ Rs 1066 - 1050 in short term...!!!
• MGL @ 1070 Negative Trend with Stop loss of Rs @ 1103 for the Target near @ Rs 1056 - 1044 in short term...!!

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