View for the day - 9th July, 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:

  • A rather subdued and a quite Weekly options expiry. But, it might just have given an indication for the expectation for the next week.
  • The Options expiry happened in lines of our expectation, near 10800 levels.
  • Bank Nifty showed a lot of strength and it managed to closed near the 23000 levels and which opens the doors for net levels
  • 10650-10700 , have become a very strong support for market now. And it’s the pivot for the market. And on the upside 11000 is the level to watch out.
  • 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 36450.69 and closed at 36737.69. The high for the day way 36806.30 and the low for the day was 36422.30 . Sensex gained 1.12% for the day
  • Nifty Opened at 10755.55 , the high for the day was 10836.85, and the low for the day was 10733.00 . Nifty closed at 10813.45 . Nifty gained 1.01% for the day
  • Bank Nifty Opened at 22753.15 , the high for the day was 22998.30, and the low for the day was 22673.40 . Bank Nifty closed at 22907.20 . Bank Nifty gained 1.43% for the day

Top Gainers & Losers:

  • The Sector for the day: Nifty Metal (Up 1.95%) and Nifty bank (up 1.43%). All the major indexes ended the day in Green. SBI, AXIS Bank, Hindalco, Jindal Steel were the major gainers of the day.
  • The market Ended In Green, and the breadth was in favour of bulls (35 advances and 15 declines in Nifty 50)
  • The Top 5 gainers (Nifty 50) for the day were- Hindalco, HDFC, SBI, Bajaj Finance, TATA steel
  • The Top 5 losers (Nifty 50) for the day were – Infratel, Coal India, TECHM, ONGC, Hero Motors

FII & DII data:

The Net FII buying for the day was 212.77cr . The Net DII selling was -803.39cr.

Views for tomorrow:

  • The Sector to watch out for tomorrow is Banks and FMCG. We could see decent moves in them
  • The market started the day on positive note and ended the day with substantial gains over previous day. Now the doors to 11000 are opened for Nifty
  • The call option writers are on back foot after today’s positive expiry
  • In Nifty, the levels to watch out will be 10900 and 11000 on upside and 10650-10700 on the downside. This could also be the broader range for few days
  • For Bank Nifty the important levels to watch out on upside are 23500. The important supports are at 22500

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