Indian stock markets may make a muted start in today’s trade, following which it could move in either direction. Yesterday, markets ended in a sweet spot with substantial gains.
Globally, US markets closed with minimal gains. Dow Jones ended 11 points higher. Nasdaq closed 29 points higher. S&P 500 was up by 5 points only.
Asian peers are in mixed cues as investors look up for fresh cues. Japan’s Nikkei 225 is trading 0.91% lower. Hong Kong’s Heng Seng is trading 0.49% lower. Chinese Shanghai Composite was up by 0.03%. Taiwan index is trading 0.15% higher. South Korean Kospi was trading with a decline of 0.16%.
Nifty Bank closed nearly 1% higher in the previous session. Nifty Midcap 50 ended 0.16% higher.
In yesterday’s trade, the top gainers were Grasim Industries, ITC, BPCL, Bajaj Finance, and Reliance. To laggards were Power Grid, Bajaj Auto, Sun Pharma, Cipla, and Maruti.
Oil prices held the ground in early morning trade. Indian rupee appreciated by 19 paise to close at 81.91 against the greenback.
Technical View: Nifty finds support around 19100 while 19450 will act as resistance. Bank Nifty finds support around 44800 while 45500 will act as resistance on the upside.
Trading call:(1-14 days) BUY ICICI Bank July future @ 945-98, stop loss, 927.5 & target 966
Derivative call-time period: (1 month) BUY Glenmark July future @ 662-665, stop loss 649 & target 678
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