View for the day - 2nd July, 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:

  • As expected, The market started on a very positive note with most of the sectors ending in Green or Unch
  • Nifty hit our targets of 10550 and settled well above it, even Bank Nifty went near our target of 22500
  • The Important technical resistance of 10400 has become a very strong support for market now. Now, 10400 becomes the deciding factor the market
  • The Option expiry was action packed as expected and call option buyers and put Option sellers taking full control of the market
  • Markets started on a positive note for the day with SGX Nifty Trading in Green at the beginning of session.

Data Points:

  • The Sensex Opened at 35604.00 and closed at 35843.70. The high for the day way 36014.92 and the low for the day was 35595.36 . Sensex gained 1.21% for the day
  • Nifty Opened at 10493.05 , the high for the day was 10598.20 and the low for the day was 10485.55 . Nifty closed at 10551.70 . Nifty gained 1.17% for the day
  • Bank Nifty Opened at 22133.80 , the high for the day was 22344.85 and the low for the day was 21890.50 . Bank Nifty closed at 21593.20 . Bank Nifty lost -0.11% for the day

Top Gainers & Losers:

  • The Sector for the day: Nifty Auto (up 2.81%) and Nifty IT (up 2.65%). All Auto and tech Giants like Motherson Sumi, M&M, Bosch, HCL, Infosys, TCS gained for the day.
  • The Top 5 gainers (Nifty 50) for the day were- M&M, HeroMotoCorp, Cipla, Titan, HCL Tech,
  • The Top 5 losers (Nifty 50) for the day were – Axis Bank, UPL, VEDL, HUL

FII & DII data:

The Net FII selling for the day was -556.72 cr . The Net DII buying was 908.64 cr .

Views for tomorrow:

  • The Market started on a positive note and almost ended the day 1.21% high. The major impetus for the market came from Auto and IT sector
  • Strong weekly Options expiry and Open Interest shifting to higher levels means that the market is brewing for a higher move and the next levels could be challenged
  • The market is expected to be little choppy, as we are entering new trading range.
  • With market closing near 10550, the gate to 10700-10750 opens up but with a stop loss below 10410.
  • For Nifty, the important levels are 10750 and 10400.
  • For Bank Nifty the important levels to watch out on upside are 22500 & 23000. The important supports are at 22100

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