YESTERDAY’S GLENMARK FUTURE
CALL HIT FINAL TGT OF 975 MADE HIGH OF 979.85
The Sensex ended up 142 points at 27,705 and the Nifty ended
up 47 points at 8,422.
Benchmark share indices ended higher, amid expiry of July derivative
contracts, after the government today cleared important changes to the
government's constitutional amendment Bill on the proposed national goods and
services tax (GST). Ahead of the July F&O expiry our markets opened with a
gap up, global markets were also supported in the morning session. The US
central bank’s policy meet was in focus where the US Federal Reserve Nifty
future remained range but with a positive bias and closed the day in the green,
though with small gains. It was an inside day for the index i.e. its range was
encompassed within the range of the previous day. 8400-8450 on the higher side
and 8330-8300 are the major resistance and support zone and a breakout on any
direction is likely to set the next trend. Today being the expiry for the July
derivatives, it seems that movement of Nifty futures is likely to remain within
the 8440-8340 range. A close above 8440 will signal a breakout on the higher
side and above 8490-8515 will signal that it is out of the woods. 8330 is an
important support and this level must be breached decisively for further
downward momentum. It may then test the 200 exponential moving average around
8275.
TOP GAINERS AND LOSERS ARE:
Top
gainers
Dr
Reddy's (5.23 %), Cipla (4.79 %), HUL (2.32 %), HDFC (1.96 %), BHEL (1.29 %), SBI
(1.26 %), Bajaj Auto (1.15 %), M&M (0.98 %), Hero MotoCorp (0.83 %), ICICI
Bank (0.61 %) and ONGC (0.50 %).
Top losersSun Pharma (1.89 %), Hindalco
(1.60 %), Infosys (1.48 %), TCS (1.08 %), Tata Steel (0.92 %) and L&T (0.75
%).
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