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Jul 2, 2021 4:33 PM

Sumeet Bagadia, Executive Director, Choice Broking

Technically, the index has taken good support at Lower Bollinger Band formation and pulled back further. Moreover, the stochastic has indicated positive bias although the MACD is still showing some weakness with negative crossover. On an hourly chart, the index has moved above the 21 HMA & also formed like Rounding Bottom, which points to further recovery for the near term. At present, the Nifty seems to have resistance at 15,915 levels while immediate support comes at 15,600.

Jul 2, 2021 4:20 PM

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

The bulls seems to have come back gradually from the lower support on Friday. Confirmation of bullish reversal by the way of follow-through upmove is likely to open further upside towards 15,900 levels again in the near term. Immediate support is placed at 15,650 levels.

Jul 2, 2021 4:19 PM

Nirali Shah, Head of Equity Research, Samco Securities

Nifty50 index closed negative and remained in red throughout the week, but still it has gone nowhere. In fact, the index is finding strong demand around 15,600 levels and trading in line with other emerging market indices. As long as we are trading above the current support which seems a more likely scenario, traders are advised to maintain a cautiously bullish bias and can initiate long positions around the support while keeping a stoploss just below 15,560 levels. The immediate resistance is now placed at 15,900.

Large and mid cap IT companies will remain in focus the next week as Q1 FY22 result season commences in India. USA’s IT services companies registered exemplary earnings performance with upward revision in their outlook propelled by strong tailwinds. Hence, in a similar fashion, IT stocks in India have been witnessing a strong push over healthy earnings expectations. Investors are therefore advised to look for any short pullbacks post-earnings as an opportunity to enter the IT sector.

Jul 2, 2021 4:19 PM

Here are key stocks that moved the most on July 2

From Suzlon energy to Aurobindo Pharma, here are some stocks that moved the most in trade today.

Jul 2, 2021 4:04 PM

Mohit Nigam, Head, PMS - Hem Securities

Markets closed with gains of about 0.3% today after a subdued week. Nifty continues to stay in the range of 15,600 and 15,900. Overall, we feel that 15,600 is a strong support for the short to medium term. The market saw outstanding returns from the recently listed IPO companies especially in Route, Happiest & Sona Comstar. We feel that there is still a lot of momentum in the small cap space across different sectors.

Jul 2, 2021 4:02 PM

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

The markets are taking support at lower levels and today was no different. We have respected the 15,600-15,650 patch today and the bias still remains on the upside as long as 15,400 does not break on a closing basis. The Nifty still has the wings to achieve 16,100 and hence any dip can be utilized to accumulate long.

Jul 2, 2021 4:02 PM

Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services

The USDINR spot has continued the uptrend this week, and we likely need a catalyst to fuel another extension higher. After the big beat on US ADP employment, the focus is on nonfarm payrolls data, as a strong candidate with enough impetus to accelerate US Dollar buying pressure. In USDINR spot the next week’s trading range will continue to be 74-75.25 with sideways bias.

Jul 2, 2021 4:01 PM

Manish Shah, Founder, Niftytriggers.com

For the day Nifty turned up smartly after a strong reversal from the lows and closed higher. Nifty found support at 15,600-15,625 and it reversed sharply to close at the highs of the day. It was a key reversal bar as Nifty made a new low and then closed above the close of the previous day. It was a long-tailed candle making it a classic hammer. This bullish reversal pattern is at the rising trendline and at the support zone of 15,600-15,650. For traders, this is the best opportunity in last four weeks. On the weekly timeframe, it was a narrow range candle which seems to be a pause in the trend. We maintain that the range bound action seen since the beginning of June 2021 is more of a time correction. In terms of Dow Theory, this is a line, and this acts as a continuation pattern. If Nifty manages to trade above 15,750-15,785 we get triggered on the long side for a target of 15,900-15,950. If Nifty manages to break past 15,950 expect more upsides to 16,200-16,300 in the coming weeks. Most likely it will be advantage bulls in July 2021.

Jul 2, 2021 4:01 PM

Rupee at Close | The Indian rupee ended lower by 19 paise at 74.74 per dollar, slipping to over 2 months low. The local currency opened 16 paise lower at 74.71 per dollar versus Thursday’s close of 74.55 and traded in the range of 74.66-74.87.

Jul 2, 2021 3:59 PM

Market This Week | Mkt Erases Gains Of Last Week; Sensex & Nifty Down 1% Each. Midcap Index Gains For 2nd Straight Week, Up 0.5%

Jul 2, 2021 3:55 PM

Market At Close | Adani Ports Closes 1% In The Green But Off Highs After June Biz Updates.

Jul 2, 2021 3:53 PM

Market At Close | Market Snaps 4-day Losing Streak. Sensex & Nifty Close With Minor Gains; RIL, ICICI & Infosys Top Contributors.

Jul 2, 2021 3:53 PM

Market This Week | Here's how market performed this week

- Market Erases Gains Of Last One Week; Sensex & Nifty Down 1% Each

- Midcap Index Gains For 2nd Straight Week, Up 0.5% This Week

- Nifty Bank Falls Nearly 2% This Week; HDFC Bank & Axis Bank Top Losers

- Metal Top Losing Index While Pharma Gains The Most

- Divi’s, DRL, Cipla Top Nifty Gainers This Week

- HDFC Life, Shree Cement, Bajaj Finserv & Britannia Top Nifty Gainers

- Rupee Slips To Over 2-month Low; Down Nearly 1% This Week

Jul 2, 2021 3:44 PM

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

- Market Snaps 4-day Losing Streak

- Sensex & Nifty Close With Minor Gains; RIL, ICICI & Infosys Top Contributors

- Nifty Rises 42 Points To 15,722 & Sensex 166 Points To 52,485

- Nifty Bank Gains 126 Points To 34,810 & Midcap Index 138 Pts To 27,020

- Metals Weak On An Expectation Of Steel Price Cut; Tata Steel Top Nifty Loser

- Pharma Stocks Gain On Vaccine & Price Rise; Divi’s & Aurobindo Top Gainers

- Adani Ports Closes 1% In The Green But Off Highs After June Biz Updates

- Marico Sees A Profit After Q1 Biz Update; Co Closes With A Cut Of 3%

- Tata Chem, Tata Elxsi, Trent, PI Ind, Oil India Amongst Top Midcap Gainers

- Except Adani Ports, All Adani Group Stocks Fall 5% Each

Jul 2, 2021 3:38 PM

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