Markets may be in green

3 Jul 2023 , 09:10 AM

Indian stock markets may witness a positive day today, trailing the positive momentum in global equities. On Friday, markets closed on a positive note continuing their two-day winning streak.

Globally, US markets closed on a higher note. Dow Jones ended 285 points higher. Nasdaq closed 197 points higher. S&P 500 ended with a gain of 54 points.

Asian peers are trading on the upside ahead of a data-packed week. Chinese Shanghai Composite was 1.16% higher. Hong Kong’s Heng Seng was trading 1.69% higher. Japan’s Nikkei 225 is trading 1.55% higher. Taiwan index is trading with a gain of 1.03%. South Korea’s Kospi was trading 1.35% higher.

On Friday, top gainers were Mahindra & Mahindra, Infosys, IndusInd Bank, Sun Pharma, and Hero MotoCorp. Adani Ports, Grasim Industries, Apollo Hospital, HDFC Life, and Adani Enterprises were the biggest losers.

Nifty Midcap 50 closed 0.86% higher. Bank Nifty was 1% higher in Friday’s trade. 

Oil prices slipped in early morning trade as the global economic slowdown impose fears. 

Technical View: Nifty finds support around 19000 while 19400 will act as resistance. Bank Nifty finds support around 44400 while 45000 will act as resistance on the upside.

Trading call:(1-14 days) BUY IEX July future @128-129, stop loss 125.5 & target 132

Derivative call-time period: (1 month) BUY GMR July future @44-44.5, stop loss 43.35 & target 45.5