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Sensex Ends In Green

Benchmark indices Nifty Future & BSE Sensex made new all-time highs again and ended Tuesday’s trading session broadly in the green

Photo Credit : Reuters

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Dear Trader…

IT stocks saved the day for bulls on Tuesday when profit booking was seen in most parts of the domestic equity market. Before ending with a 205-point gain, Sensex zoomed past the 67,000 mark for the first time. Nifty Future touched a fresh high at 19,824.

FII and FPIs, on Tuesday, saw a net purchase of Rs 2115.84 crore in the cash segment. A total of Rs 8954.77 crore was sold against a total purchase of Rs 11070.61 crore. Domestic institutional investors saw a net sale of Rs 1317.56 crore in the cash segment. A total of Rs 8095.96 crore was sold against a total purchase of Rs 6778.40 crore.

Technically, the important key resistances placed in July Nifty future are at 19770 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 19880 - 19909 levels. Immediate support is placed at 19707 - 19676 levels.

Ø Trading Idea for the derivative stocks….

  • BATA INDIA @ 1681 Positive Trend with a Stop loss of Rs @ 1644 for the Target near @ Rs 1694 - 1707 in short term…..!!!
  • HDFC BANK @ 1680 Positive Trend with Stop loss of Rs @ 1730 for the Target near @ Rs 1694 – 1707 in short term…..!!!
  • BAJAJ FINSERV @ 1617 Positive Trendwith Stop loss of Rs @ 1573 for the Target near @ Rs 1643 - 1650 in short term…..!!!
  • SUN PHARMA @ 1070 Positive Trend with Stop loss of Rs @ 1044 for the Target near @ Rs 1084 – 1093 in short term…..!!!
  • TATA CHEM. @ 993 Positive Trend with Stop loss of Rs @ 977 for the Target near @ Rs 1003 - 1013 in short term...!!
  • M & M @ 1541 Negative Trend with Stop loss of Rs @ 1590 for the Target near @ Rs 1527 - 1508 in short term...!!!
  • INFOSYS LTD @ 1475 Negative Trend with Stop loss of Rs @ 1520 for the Target near @ Rs 1460 - 1445 in short term...!!!
  • INDUSIND BANK @ 1391 Negative Trend with Stop loss of Rs @ 1409 for the Target near @ Rs 1377 - 1370 in short term...!!!
  • HCL TECH. @ 1159 Negative Trend with Stop loss of Rs @ 1190 for the Target near @ Rs 1147 - 1130 in short term...!!!
  • CIPLA LTD @ 1023 Negative Trend with Stop loss of Rs @ 1050 for the Target near @ Rs 1008 - 996 in short term...!!

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Nikhil Bhatt | Research Analyst

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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