Yesterday was among those days, when a trader just simply can go for a nice outing or long drive in monsoon rains and come back with no change in the indices. The markets remained stagnant within 0.5% range throughout the day closing the day almost flat. The volumes were absymally low due to 'Bharat Band" effect. All the sectoral indices remain flat, except Industrial and Capital Goods sector that saw some decline in stocks like BHEL, L&T and Siemens.
Provisional data released by exchanges indicate net selling by Foreign Institutional Investors (FII) by around 250 Crores while Domestic Institutions too made selling by around 50 Crores. In the derivatives segment too, FIIs activity were largely muted with no major change.
US was closed yesterday on account of Independence Day. Europe closed flat, but Asian markets opened weak today morning due to strengthening of Yen against Euro and uncertainity on European economy persists.
On account of it, we may see a negative opening in Indian Equity markets today. The direction for the markets are still unclear and hence, we recommend no triggers beyond 5155 on the downside and 5320 on the upside. If Nifty able to breach 5155 on the downside, then we may sell Nifty with a stop-loss of 5215 and target of 5080, whilst if Nifty able to break 5320 on the upside, then we may see the upside levels of 5400 and stop-loss of 5270. The stock recommendations made earlier remained intact as markets failed to move in either of the directions.
Wishing you a great trading day!! Let's hope markets display its usual volatile characteristic today.
Provisional data released by exchanges indicate net selling by Foreign Institutional Investors (FII) by around 250 Crores while Domestic Institutions too made selling by around 50 Crores. In the derivatives segment too, FIIs activity were largely muted with no major change.
US was closed yesterday on account of Independence Day. Europe closed flat, but Asian markets opened weak today morning due to strengthening of Yen against Euro and uncertainity on European economy persists.
On account of it, we may see a negative opening in Indian Equity markets today. The direction for the markets are still unclear and hence, we recommend no triggers beyond 5155 on the downside and 5320 on the upside. If Nifty able to breach 5155 on the downside, then we may sell Nifty with a stop-loss of 5215 and target of 5080, whilst if Nifty able to break 5320 on the upside, then we may see the upside levels of 5400 and stop-loss of 5270. The stock recommendations made earlier remained intact as markets failed to move in either of the directions.
Wishing you a great trading day!! Let's hope markets display its usual volatile characteristic today.
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