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Jul 1, 2021 4:37 PM

Ajit Mishra, VP - Research, Religare Broking

Markets traded lacklustre and ended marginally lower following subdued global cues. After the flat start, the benchmark traded range-bound till the end however the bias slightly on the negative side. Markets are closely eyeing the global indices for some signal as indications are mixed from the domestic front. Nifty has been hovering within the 15,450-15,900 zone for almost a month now and currently trading in the middle of the band. A breakdown below 15,650 would pave the way for a further slide towards the lower range. We feel it’s prudent to keep a check on positions and prefer defensive in the current scenario.

Jul 1, 2021 4:22 PM

Sugandha Sachdeva, VP- Commodity & Currency Research, Religare Broking

The Indian rupee has drifted lower to test three-month lows as the domestic equities witnessed selling pressure and the greenback continues to strengthen, hitting a three-month high. The gradual uptick in crude oil prices wherein they are trading at their highest in two years is also acting as a headwind for the domestic currency. Besides, sentiments have also taken a beating due to a drop in domestic manufacturing PMI in June, reflecting the impact of the second wave of the virus even as it subsides, enabling the recovery to get back on track. The near-term bias is negative, but the markets are now eyeing key US jobs report for June to assess the Fed's stance going ahead, amid the chatter surrounding the taper-tantrum.

Jul 1, 2021 4:21 PM

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

Nifty remained sluggish throughout the day and gradually declined to the level of 15,667. Thursday's fall was led by the decline in technology, banks and commodities, which have a large weight in the index. Volatility is declining, which is a sign that bulls are resting and they could bring volatility to the market. India VIX closed at 12.63, the lowest level in the last 18 months. On a monthly basis, the market remained in the narrow range of 500 points, which is an unusual and even narrow trading range over the last six months. Long traders need to be careful when adding long positions at high levels and such markets invite unpleasant events. For the day, the Nifty closed below the levels of 15,700 and on Friday, we may see the market hitting the lower boundary which is between 15,650 and 15,600 levels. Our strategy should be to buy on dips that is between 15,670-16,620. Keep a final stop loss at 15,550 levels. On the higher side, 15,700-15,745 and 15,800 would be major obstacles.

Jul 1, 2021 4:18 PM

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Nifty continued to show choppy movement with negative bias and still, there is no evidence of any upside bounce emerging from the lows. Nifty is currently placed at the important cluster support of 15,650 levels and a move below this area could result in a slide down to 15,500 levels.

Jul 1, 2021 4:10 PM

Here are key stocks that moved the most on July 1

From Vodafone Idea to Bajaj Auto, here are some stocks that moved the most in trade today.

Jul 1, 2021 4:09 PM

Manish Shah, Founder, www.Niftytriggers.com

Nifty had another flat day as it closed lower by around 30 odd points. For the fourth day in a row, Nifty closed with a red candle. We have not seen a range expansion candle in this four-day decline as the daily range of the candles is just below the average. We interpret this as a time correction of the April to June rally. The entire price action for the month of June can be considered as a rectangle which is a trend continuation pattern.

Nifty is still at the support of a rising trendline and the pattern of higher highs and higher lows remains intact. Nifty has dipped below the rising 20 days moving average. Four days in a row of red candles means that Nifty is getting oversold on a very stochastic oscillator. Support for Nifty is now at 15,600-15,625. What we need is a bullish candle stock pattern which would at least give a short-term rally. What we need is to move above 15,750 to propel Nifty towards 15,900-15,950.

Jul 1, 2021 3:57 PM

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The markets have been sideways all day long and the volumes have been lackluster. Until 15,900 is not taken out or 15,400 is not broken, we will continue trading in a choppy manner with no definite sense of direction.

Jul 1, 2021 3:56 PM

Market At Close | IT Stocks Slip Despite Rupee Being Weak Against $; Nifty IT Down 0.6%

Jul 1, 2021 3:55 PM

Market At Close | Market Closes Lower After A Range-Bound Session

Jul 1, 2021 3:54 PM

Rupee At Close | The Indian rupee ended 23 paise lower at 74.55 per dollar, amid selling in the domestic equity market. The local opened lower at 74.37 per dollar against previous close of 74.32 and traded in the range of 74.33-74.63.

Jul 1, 2021 3:51 PM

Market At Close | Here are the highlights of today’s trading session

- Market Closes Lower After A Range-Bound Session

- Sensex Slips 164 Points To 52,319 & Nifty 42 Points To 15,680

- Nifty Bank Falls 88 Points To 34,684 & Midcap Index 88 Pts To 26,883

- Market Breadth Remains Neutral With Advance-Decline Ratio At 1:1

- Auto Stocks Gain With June Sales Largely Above Estimates

- Dr Reddy’s Top Nifty Gainer Followed By Hindalco & Bajaj Auto

- IT Stocks Slip Despite Rupee Being Weak Against $; Nifty IT Down 0.6%

- Bajaj Finserv, Britannia, Infosys, Wipro & BPCL Top Nifty Losers

- Reports Of PolicyBazaar Filing For An IPO Lift Info Edge 7%

- ONGC, OIL Higher As Crude Gains Ahead Of OPEC Meet

- City Gas Cos Higher On Oil Min’s Note; GAIL, IGL, Guj Gas Up 2% Each

- Vodafone Idea Falls More Than 9% On Weak Q4 & Operationality Concern

Jul 1, 2021 3:38 PM

Closing Bell | The Indian equity benchmark indices ended lower Thursday dragged by selling in IT and financial stocks. The Sensex declined 164.11 points, or 0.31 percent, to 52,318.60, while the Nifty closed 41.50 points, or 0.26 percent lower at 15,680.00. Broader markets closed mixed as smallcap index gained 0.66 percent, while midcap index declined 0.33.

Among sectors, IT, financial services, realty and private bank indices fell, while Nifty Auto, Nifty Pharma and Nifty FMCG ended in the green. On the Nifty50 index, Bajaj Finserv, Britannia, Infosys, Wipro, and Shree Cement led the losses, while Dr Reddy's Laboratories, Hindalco Industries, Bajaj Auto, Tata Motors, and Sun Pharma were the top gainers.

Jul 1, 2021 3:35 PM

Jul 1, 2021 3:26 PM

Mutual Fund Corner: Why MF investors need to track earnings growth

In this episode of Mutual Fund Corner, CNBC-TV18’s Sumaira Abidi spoke to Feroze Azeez, Deputy CEO at Anand Rathi Wealth Management, about why retail investors and mutual fund investors need to know…

Jul 1, 2021 3:26 PM

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