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The Nifty option distribution data is suggesting support at 10,000 and resistance at 10,500 followed by at 11,000. India VIX continues to find support around 29-28 levels after closing at 28.11 for the day.
Sudarshan Sukhani of s2analytics.com suggests buying TVS Motor with a stop loss of Rs 377, target at Rs 390 and TCS with a stop loss of Rs 2,065, target at Rs 2,130.
The volumes on the bar also suggest heavy action by interested parties
The shorter-term moving average is above longer-term moving average and both the averages are rising.
Go long in TVS Motor futures above Rs 385 with a stop loss at Rs 378 for targets of Rs 395 & Ts 430.
Currently, volatility is high. Its earning result is on July 3. We are expecting volatility drop and an increase in theta rate will benefit this strategy trade.
After the all-time high of January, markets embarked on a bumpy track in the subsequent months in light of Budget 2020, COVID-19, global cues and weak macroeconomic indicators.
Trends on SGX Nifty indicate a positive opening for the index in India with a 54 points gain.
Except marginal losses in Nifty Bank all other sectoral indices ended in the green, while BSE Midcap and Smallcap indices rose 1 percent each.
The Dow Jones Industrial Average fell 77.91 points, or 0.3%, to 25,734.97, the S&P 500 gained 15.57 points, or 0.50%, to 3,115.86 and the Nasdaq Composite added 95.86 points, or 0.95%, to 10,154.63.
Spot gold fell 0.2% to $1,767.11 per ounce by 0034 GMT, after touching $1,788.96 on Wednesday” its highest since October 2012.
Eveready Industries | Anup Engineering | Somany Ceramics | Urja Global | Polycab India | Granules India | Indian Bank | TVS Motor Company are also in focus today.
The break of 10,550 – 10,600 level will open the gate for 11,000 level in the coming trading sessions. In case the index violates 10,000, a sharp decline will take place which could drag the index towards 9,700 – 9,500 levels.
U.S. West Texas Intermediate (WTI) crude futures fell 13 cents, or 0.3%, to $39.69 a barrel at 0024 GMT, trimming a 1.4% rise from Wednesday.
E-mini futures for the S&P 500 edged 0.06% higher, while Australian S&P/ASX 200 futures climbed 0.71% and Japan's Nikkei 225 futures rose 0.4%.
US crude inventories fell more than expected, dropping by 7.2 million barrels last week, after hitting all-time highs for three consecutive weeks, Energy Information Administration data showed.
The regulator also said the SoP has been prepared in order to harmonise and ensure uniformity in the action amongst all the stock exchanges, clearing corporations and depositories in a time-bound manner.
Debt flows accounted for $23.5 billion of total, while Chinese equities attracted some $6.1 billion, the data showed.
Key support level for the Nifty is placed at 10,337.4, followed by 10,244.8. If the index moves up, the key resistance levels to watch out for are 10,484.8 and 10,539.6
Birla Sun Life Insurance Company sold 2,27,000 shares in Somany Ceramics (representing 0.53 percent of its total paid-up equity capital) at Rs 117.8 per share
A COVID-19 vaccine developed by Pfizer Inc and German biotech firm BioNTech showed promise and was found to be well tolerated in early-stage human trials.
Crude held on tankers fell below 150 million barrels by the end of June, down from more than 180 million barrels in late April, IHS Markit estimated.
The transaction is likely to conclude in July, sources said.
The price of 10 gram 22-carat gold in Mumbai was Rs 44,780, and that of 24-carat 10 gram was Rs 48,886. The rates exclude GST.