View for the day - 30th June, 2020

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

Market Views for the Day:

  • The market did start on a very positive note with India imposing ban on 59 Chinese apps and market looked all set to breach 10400 and make a decisive move
  • But once again the technicals took over and 10400 is proving to be a difficult fortress to breach
  • The Market stuck in still in a tighter range between 10200 and 10400. And breach on either side is important to have a cleared view on the market
  • Market ended nearly at unch, with Nifty Auto leading the way
  • 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 35168.30 and closed at 34915.80 . The high for the day way 35233.91 and the low for the day was 34812.80 . Sensex lost - 0.13% for the day
  • Nifty Opened at 10382.60 , the high for the day was 10401.05 and the low for the day was 10267.35 . Nifty closed at 10302.10 . Nifty lost - 0.10% for the day
  • Bank Nifty Opened at 21524.30 , the high for the day was 21650.50 and the low for the day was 2212.0 . Bank Nifty closed at 21370.15 . Bank Nifty gained 0.05% for the day

Top Gainers & Losers:

  • The Sector for the day: Nifty Auto, gained 1.10% for the day. All Auto majors like Bosch, MRF, Maruti ended in Green. Nifty Media, Nifty Pharma and Nifty PSU banks were the biggest losers of the day
  • The Top 5 gainers (Nifty 50) for the day were- Shree Cement, Maruti, ICICI Bank, Nestle India, Britannia
  • The Top 5 losers (Nifty 50) for the day were – BPCL, PowerGrid, Sun Pharma, GAIL, IOC

FII & DII data:

The Net FII selling for the day was -2008.08 cr. The Net DII buying was 2051.31 crores.

Views for tomorrow:

  • The Market started on a positive note and almost gained 1% in the first half of the session. The major impetus for the market came from Nifty Auto. Nifty Media, Nifty Pharma, Nifty PSU were biggest loesers of the day.
  • The Market did take a shot at 10400 but again sellers took over and market ended where it started
  • The market is yet to trade comfortably above the decisive resistance of 10400.
  • 10200-10400 is the range to watch out. Decisive break could mean 3-4 % move.
  • The daily MACD charts have got a bearish crossover for Nifty. Break of 10250 could prove to be the vital point for this weekly expiry.
  • For Nifty, the important levels are 10400 and 10200.
  • For Bank Nifty the levels to watch out are 21700 (upside) and 21100 (downside)

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