View for the day -25th June, 2020

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Market Views for the Day:

  • The Market started on a negative note in lines of our expectation . And market did achieve our target of 10200 in the morning session
  • But the continuous tussle between option buyers and sellers kept the market in a broader range of 10350 to 10200
  • Market has however ended flat with no clear sense of direction. But the level of 10350 has been defended by the sellers
  • Markets started on a Negative Note for the day with SGX Nifty Trading in Red at the beginning of session.

Data Points:

  • The Sensex Opened at 34525.39 and closed at 34842.10 . The high for the day way 35081.61 and the low for the day was 34499.78 . Sensex lost -0.08% for the day
  • Nifty Opened at 10235.55 , the high for the day was 10361.80 and the low for the day was 10194.50 . Nifty closed at 10288.90 . Nifty lost -0.16% for the day
  • Bank Nifty Opened at 21218.05 , the high for the day was 21703.50 and the low for the day was 20926.45 . Bank Nifty closed at 21506.15 . Bank Nifty gained 0.37% for the day

Top Gainers & Losers:

  • The Sector for the day: FMCG, All the giants of this sector ended the day in green
  • The Top 5 gainers (Nifty 50) for the day were- ITC, Hero Motors, Bajaj Finance, Kotak Bank, GAIL
  • The Top 5 losers (Nifty 50) for the day were – Asian Paints, Hindalco, IOC, Eicher Motors, HCL Tech

FII & DII data:

The Net FII selling for the day was Rs 1050.61 cr . The Net DII selling was Rs 255.59 crores.

Views for tomorrow:

  • The Market started on a negative note but the bulls were able to defend the important level of 10200. And on the upside market struggled to go above all important level of 10350. And the market settled near 10280.
  • Tomorrow being the start of fresh F&O expiry, we could expect the market to be less volatile compared to today.
  • However, the market has closed below 10300 and that will be the pivot point for tomorrow
  • For Nifty, 10350 become an important resistance for the day. If the market continues to trade below 10300, another shot at 10200 levels and possibly at lower levels of 10100 cannot be ruled out.
  • For Bank Nifty, 21800 is a very crucial resistance. The important level on the downside are 21000 and 20500. If market sustains below 21400, then moves to these levels cannot be ruled out.

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