As discussed, Indian equity Markets had a good trading session. After trading in a negative range during the earlier part of the day, the markets bounced back after Europe opened strong. Finally, benchmark indices able to breakthrough key resistance levels and closed the day up around 0.5%.
Among the sectors, Metals and Constructions have gained during the day, while Information Technology and Telecom sectors traded in red during the day. Infosys Results have been disappointing which put pressure on IT stocks.
Provisional data released by exchanges have been good. Foreign Institutional Investors (FIIs) made net purchases of about 800 Crores while Domestic Institutions were net sellers by around 600 Crores. In the derivatives segment too, no major cues have been derived.
US markets have opened in a positive zone which should help Indian markets open in a positive zone tomorrow morning. The markets can find strong resistance in 5440-5450 range. One may sell Nifty in this range with stop-loss @5465 and target price @ 5415. Technically as suggested, Tata Power remained in strong trading zone of 1310-1320. Those who have taken this position can place target price @ 1340 and stop-loss at 1297.
Max India which was suggested 23 June @ 163 today made strong gains and now trading @ 167. The target price can be maintained @ 175 for this position.
Wishing you a great trading day tomorrow!!
Among the sectors, Metals and Constructions have gained during the day, while Information Technology and Telecom sectors traded in red during the day. Infosys Results have been disappointing which put pressure on IT stocks.
Provisional data released by exchanges have been good. Foreign Institutional Investors (FIIs) made net purchases of about 800 Crores while Domestic Institutions were net sellers by around 600 Crores. In the derivatives segment too, no major cues have been derived.
US markets have opened in a positive zone which should help Indian markets open in a positive zone tomorrow morning. The markets can find strong resistance in 5440-5450 range. One may sell Nifty in this range with stop-loss @5465 and target price @ 5415. Technically as suggested, Tata Power remained in strong trading zone of 1310-1320. Those who have taken this position can place target price @ 1340 and stop-loss at 1297.
Max India which was suggested 23 June @ 163 today made strong gains and now trading @ 167. The target price can be maintained @ 175 for this position.
Wishing you a great trading day tomorrow!!
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