View for the day - 22nd June, 2020

MarketView by Trade Brains Daily market analysis, updates and views for the next day. Get directly on your telegram. Join here:

Market Views for the Day:

  • Markets started on a Positive note for the day with SGX Nifty Trading in Green at the beginning of session.
  • The Sensex Opened at 34892.03 and closed at 34911.32 . The high for the day way 35213.52 and the low for the day was 34794.40 . Sensex gained 0.52% for the day
  • Nifty Opened at 10318.75 , the high for the day was 10393.65 and the low for the day was 10277.60 . Nifty closed at 10311.20 . Nifty gained 0.65% for the day
  • Bank Nifty Opened at 21491.55 , the high for the day was 22078.25 and the low for the day was 21425.55 . Bank Nifty closed at 21708.35 . Bank Nifty gained 1.74% for the day

Top Gainers & Losers:

  • The Sector for the day : Pharma Sector
  • The Biggest news for the day came from Pharma sector. Glenmark Pharmaceuticals, Opened Gap-up on the news of them launching medicine for COVID-19. At a time the shares traded nearly 40% above the previous day close. It closed with 27% gains for the day.
  • The Top 5 gainers for the day were- Glenmark Pharmaceuticals, SMS Lifesciences India Limited, Indraprastha Medical Corporation Limited, Kirloskar Industries Limited, Suven Pharmaceuticals Limited,
  • The Top 5 losers for the day – Shekhawati Ploy-Yarn Limited, Sujana Universal Industries Limited, Impex Ferro Tech Limited, Bhagyanagar India Limited, LT Foods Limited

FII & DII data:
The Net FII buying for the day was Rs 424.21 cr. The Net DII selling was Rs 1287.69 crores.

Views for tomorrow:

  • Other things remaining constant, the market should have sustained bullish momentum for the day.
  • For Nifty, 10250 become an important support for the day. If the market continues to sustain above 10350, the next important level is 10450 & 10550.
  • For Bank Nifty, 21400 is a very crucial support. The important level on the upside are 22000 and 22400.

Disclaimer: The information contained here are for educational and informational purposes only. The stocks discussed are the research and personal views of the authors should ‘not’ be considered as any kind of buy, sell or any advisory/recommendation.

We have done our best to ensure that the information provided on this Website are accurate and provide valuable information. Regardless of anything to the contrary, we shall be held liable or responsible for any errors or omissions on this website or for any damage you may suffer as a result of failing to seek competent financial advice from a professional who is familiar with your situation.

1 Like

Glenmark, Cipla and particularly pharma sector performed quite well today!