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Equity Markets Reach Fifth-Day Peak on Strong Global Cues
Continuing their stellar rally, equity markets closed at fresh peaks for the fifth day in a row, taking comfort from strong global cues.
Photo Credit : Reuters
Dear Trader…
Aided by a late-session resurgence in Reliance and an uptick in banking and media stocks on strong quarterly earnings, the BSE Sensex rallied 302 points to make a closing record of 67,097, while the broader Nifty Future jumped 77 points to settle at 19,847.
FII and FPIs, on Wednesday, saw a net purchase of Rs 1165.47 crore in the cash segment. A total of Rs 7807.60 crore was sold against a total purchase of Rs 8973.07 crore. Domestic institutional investors saw a net sold of Rs 2134.54 crore in the cash segment. A total of Rs 8523.61 crore was sold against a total purchase of Rs 6389.07 crore.
Technically, the important key resistances placed in July Nifty future are at 19847 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 19909 - 19939 levels. Immediate support is placed at 19808 - 19737 levels.
Ø Trading Idea for the derivative stocks….
- KOTAK BANK @ 1910 Positive Trend with Stop loss of Rs @ 1873 for the Target near @ Rs 1933 - 1940 in short term…..!!!
- ACC LTD @ 1802 Positive Trend with Stop loss of Rs @ 1763 for the Target near @ Rs 1823 – 1833 in short term…..!!!
- HAVELLS INDIA @ 1370 Positive Trendwith Stop loss of Rs @ 1330 for the Target near @ Rs 1384 - 1400 in short term…..!!!
- SUN PHARMA @ 1087 Positive Trend with Stop loss of Rs @ 1070 for the Target near @ Rs 1097 – 1107 in short term…..!!!
- ICICI BANK @ 973 Positive Trend with Stop loss of Rs @ 960 for the Target near @ Rs 983 - 990 in short term...!!
- GRASIM IND. @ 1787 Negative Trend with Stop loss of Rs @ 1820 for the Target near @ Rs 1773 - 1740 in short term...!!!
- HDFC BANK @ 1686 Negative Trend with Stop loss of Rs @ 1730 for the Target near @ Rs 1673 - 1660 in short term...!!!
- INFOSYS LTD @ 1474 Negative Trend with Stop loss of Rs @ 1494 for the Target near @ Rs 1460 - 1444 in short term…!!!
- HCL TECH. @ 1162 Negative Trend with Stop loss of Rs @ 1190 for the Target near @ Rs 1147 - 1135 in short term...!!!
- COROMANDEL @ 953 Negative Trend with Stop loss of Rs @ 990 for the Target near @ Rs 927 - 909 in short term...!!
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