View for the day - 3rd 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:

  • A rather subdued day after an action packed four days of the week. The market opened strong with bulls having a firm grip on the market. But, the momentum soon fizzled out, and market got stuck in tight range
  • Nifty is trading comfortably in its new formed range. As long market is able to defend the 10500 level, things looks good for the bulls
  • 10500, has become a very strong support for market now. And it’s the pivot for 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 36025.38 and closed at 36021.42. The high for the day way 36110.21 and the low for the day was 35872.38. Sensex gained 0.50% for the day
  • Nifty Opened at 10614.95, the high for the day was 10631.30 and the low for the day was 10562.65. Nifty closed at 10607.35. Nifty gained 0.53% for the day
  • Bank Nifty Opened at 22101.75, the high for the day was 22130.30 and the low for the day was 21768.00. Bank Nifty closed at 21852.40. Bank Nifty lost -0.46% for the day

Top Gainers & Losers:

  • The Sector for the day: Nifty IT (up 1.08%),Nifty Auto (up0.93%) and Nifty Realty (up 1.02%).
  • The Top 5 gainers (Nifty 50) for the day were- Eicher Motors, AdaniPorts, Bharati Airtel, HeroMotoCo, NTPC
  • The Top 5 losers (Nifty 50) for the day were – JSW Steel, Tata Steel, IndusIndBank, ZEEL, HDFC Bank

FII & DII data:

The Net FII buying for the day was +857.29 cr. The Net DII selling was -331.96 cr.

Views for tomorrow:

  • The Market started on a positive note and almost ended the day 0.5% high. The major impetus for the market came from Auto, IT & Realty sector
  • The market has comfortable settled in the new trading range above 10500 and it has hit its first target of 10600 above it
  • The market is expected to be little choppy, as we are entering new trading range.
  • With market settling at 10600, the door to 10750 remains open
  • For Nifty, the important levels are 10750 (upside) and 10450 (downside)
  • For Bank Nifty the important levels to watch out on upside are 22500 & 23000. The important supports are at 21500

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