The market closed the week with the Sensex at 28092 up by 280 points or over 1% while the Nifty ended at 8484 up by 103 points or 1.23% amid better than expected monsoon, auto sales figures, strong rupee, upbeat macro-economic data and finance ministry’s announcement on a comprehensive package for PSU banks. The focus this week will remain on quarterly earnings, crucial economic data namely May IIP and June import & export. TCS will announce its Q1 earnings on the 9th July which may set the trend for the market and IT industry. Meantime, outcome of Greece referendum on its bail out may also weigh on the market sentiment. Readers are advised to trade with caution keeping stock specific approach.
NIFTY FUUTRE (Last close 8488.00)
The counter closed the week gaining over 100 points amid high volatility and intra week swing of 306 points. The counter this week may remain in the range of 8392-8583, break above it may move up to 8613/8644 or else break below it may slide to 8359/8312. For today’s trading the counter to retain its up move needs to trade and remain above 8509.75 whereby it may move up to 8523/8539. Strong support for the counter exists at 8465.25 which if breached decisively with volumes then it may slide to 8447/8426.
The counter closed the week gaining over 100 points amid high volatility and intra week swing of 306 points. The counter this week may remain in the range of 8392-8583, break above it may move up to 8613/8644 or else break below it may slide to 8359/8312. For today’s trading the counter to retain its up move needs to trade and remain above 8509.75 whereby it may move up to 8523/8539. Strong support for the counter exists at 8465.25 which if breached decisively with volumes then it may slide to 8447/8426.
BANK NIFTY FUTURE (Last close 18721.95)
The counter closed the week gaining 372 points amid high volatility and intra week swing of over 950 points. The counter this week may remain in the range of 18488-18955, break above it may move up to 19047/19135 or else break below it may slide to 18406/18319. For today’s trading the counter to retain its up move needs to trade and remain above 18788.75 whereby it may move up to 18839/18888. Strong support for the counter exists at 18672.25 which if breached decisively with volumes then it may slide to 18616/18555.
The counter closed the week gaining 372 points amid high volatility and intra week swing of over 950 points. The counter this week may remain in the range of 18488-18955, break above it may move up to 19047/19135 or else break below it may slide to 18406/18319. For today’s trading the counter to retain its up move needs to trade and remain above 18788.75 whereby it may move up to 18839/18888. Strong support for the counter exists at 18672.25 which if breached decisively with volumes then it may slide to 18616/18555.
HCL TECH FUTURE (Last close 965.70)
The stock after consolidating during the past sessions closed the week gaining over ½% with moderate volumes. The stock witnessed good buying on last Friday whereby the stock surged over 1%. The stock appears positive on charts and may move up to 969/973 on volume trading. Strong support for the stock exists at 961.25.
The stock after consolidating during the past sessions closed the week gaining over ½% with moderate volumes. The stock witnessed good buying on last Friday whereby the stock surged over 1%. The stock appears positive on charts and may move up to 969/973 on volume trading. Strong support for the stock exists at 961.25.
PFC FUTURE (Last close 262.10)
The stock after consolidating during the past sessions closed on last Friday above its medium trend line with moderate volumes gaining over 1%. The sock appears positive on daily charts and may move up to 264/266 on volume trading. Strong support for the stock exists at 259.25.
The stock after consolidating during the past sessions closed on last Friday above its medium trend line with moderate volumes gaining over 1%. The sock appears positive on daily charts and may move up to 264/266 on volume trading. Strong support for the stock exists at 259.25.
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