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Jun 7, 2021 4:31 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty has once again closed at an all-time closing high accompanied by a sharply positive advance-decline ratio. High volumes on a positive day is good news. The continued flow of positive news on the COVID front could help sustain this upward momentum. 15,630-15,840 is the new band for the Nifty for the near term.

Jun 7, 2021 4:25 PM

Ajit Mishra, VP - Research, Religare Broking

Markets started the week on an optimistic note amid supportive global cues. The benchmark traded with positive bias throughout the day and healthy buying was seen across sectors. Further, the news of a steady fall in new COVID cases and announcements of easing in restrictions by several states boosted sentiment. All eyes are on PM Modi’s speech scheduled in the evening, for details on the vaccination drive and the roadmap for further ease in restrictions. And, we may see the reaction of the same in early trade tomorrow i.e. June 8.

On the benchmark front, we feel the recent underperformance from the banking space is certainly weighing on the sentiment and might trigger some profit taking too. However, buoyancy in other sectors viz. energy, IT and auto would cap the fall. Amid all, we advise continuing with bullish bias and use dips to add quality names.

Jun 7, 2021 4:23 PM

Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some lackluster movement and an attempt to hold the support level around 15,700. Trading above 15,700 is positive from a short-term perspective. Sustaining above 15,700 levels, the market expects to gain momentum, leading to an upside projection till 15,870-15,900 level. The momentum indicators like RSI and MACD supporting the trend and indicating potential upside from the current market level

Jun 7, 2021 4:14 PM

Sumeet Bagadia, Executive Director, Choice Broking

Nifty has been trading in Higher Highs & Higher Lower formation, which suggests a continued upside move in the index. Moreover, the index has been trading continuously above the Ichimoku Cloud formation, which confirms that the bullish trend may continue for the long term. A momentum indicator MACD is also trading with a positive crossover as well as above the zero lines. At present, the nifty seems to have resistance at around 15,850 levels while immediate support shifted up to 15,650 levels.

Jun 7, 2021 4:04 PM

Mohit Nigam, Head, PMS - Hem Securities

Benchmark Indices closed on a positive note with both the indices at record closing highs. Strong buying is witnessed in Utility, Media, Power and IT stocks whereas selling is seen in some of the financial and pharma stocks. Sustaining above 15,700 levels is positive for Nifty 50 which opens the gate for 16,000 in Nifty 50. Immediate resistance levels for Nifty50 are 15,850 and 16,000 while key support levels for Nifty 50 are 15,500 and 15,300.

Jun 7, 2021 4:03 PM

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

The Nifty continues to rally up and seems to be heading to its next target which is 16,000. It has good support at 15,500-15,600 and as long as that is not disrespected on a closing basis, the trend continues to remain bullish and traders can accumulate long positions for higher targets.

Jun 7, 2021 4:01 PM

Manish Shah, Founder, www.Niftytriggers.com

Nifty had a bit of volatile movement as the index dipped to 15,680 and moved higher for the day. It was a good start for the bulls after the market closed on a strong note the previous week. The weekly R1 pivot is placed at 15,810 and above that, the next R2 pivot is at 15,960. A break above 15,810 and expect the market to move higher towards 15,960-16,000. Nifty continues to move higher with regular but small increments. This sort of slow uptrend is a character of a market in a strong trend. Nifty is in a strong momentum as the ADX curves up and MACD is in a buy mode. This is a combination of a sustained uptrend in the index. Slow creeping uptrends can last a fair bit of time and markets can remain elevated for a long time. Nifty rally could continue for some time and the preferred trades should be on the long side of the market.

Jun 7, 2021 4:00 PM

Here are key stocks that moved the most on June 7

From TVS Motor to Yes Bank, here are the stocks that moved the most in trade today.Get latest Market online at cnbctv18.com

Jun 7, 2021 3:54 PM

Market At Close | Market breadth favours advances; Advance-Decline ratio at 5:2

Jun 7, 2021 3:50 PM

Market At Close | Power utilities surge on unlock theme with NTPC & Power Grid rising 4% each. Midcap utiltiies gain too; Adani Power at upper circuit, Torrent up 7%, Tata up 5%

Jun 7, 2021 3:50 PM

Market At Close | Market starts week on a positive note; Sensex & Nifty at record closing highs. Midcaps outperform large caps; Midcap index post record close.

Jun 7, 2021 3:49 PM

Rupee At Close | The Indian rupee ended 19 paise higher at 72.84 per dollar amid buying in the domestic equity market. The local currency opened 15 paise higher at 72.85 per dollar versus Friday’s close of 73 and traded in the range of 72.74-72.88.

Jun 7, 2021 3:43 PM

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

- Market Starts Week On A +ve Note; Sensex & Nifty At Record Closing Highs

- Midcaps Outperform Large Caps; Midcap Index Post Record Close

- Sensex Rises 213 Points To 52,313 & Nifty 81 Points To 15,752

- Nifty Bank Gains 152 Pts To 35,444 & Midcap Index 330 Pts To 26,881

- Reliance, TCS & ICICI Lift Nifty While Bajaj Fin, HDFC & Bajaj Finserv Drag

- Bajaj Fin & Bajaj Finserv Slip After Bajaj Fin Reduces FY22 Growth Guidance

- Power Utilities Surge On Unlock Theme With NTPC & Pwr Grid Rising 4% Each

- Midcap Utiltiies Gain Too; Adani Pwr At Upper Circuit, Torrent Up 7%, Tata Up 5%

- Stocks Like IRCTC, PVR Surge With States Announcing Phase-wise Unlock

- TVS Motor Gains Over 4% After 5% Equity Worth `1,400 Exchanged

- Adani Ent Snaps Gaining Streak, Closes 5% Lower Today

- MRF Slips 3% After Reporting Lower-than-expected Operating Numbers

- Market Breadth Favours Advances; Advance-Decline Ratio At 5:2

Jun 7, 2021 3:39 PM

Closing Bell | The Indian equity market ended higher Monday boosted by a rally in IT, banks, auto and FMCG sectors. The Sensex surged 228.46 points, or 0.44 per cent to end at 52,328.51, while the Nifty closed 81.40 points, or 0.52 percent higher at 15,751.65. Broader markets outperformed the benchmarks as the Nifty Midcap100 gained 1.24 percent and Nifty Smallcap100 closed 1.56 percent higher.

Among sectors, Nifty IT gained the most followed by Nifty Private Bank, Nifty MFCG and Nifty Auto, while metals, pharma, realty and financial services sectors ended in the red. On the Nifty50 index, Adani Ports, PowerGrid Corporation, NTPC, Tata Motors and UltraTech Cement gained the most while Bajaj Finance, Bajaj Finserv, HDFC, Divi’s Laboratories and Cipla led the losses.

Jun 7, 2021 3:38 PM

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