Nifty ends above 11,850-mark, global leads run up
How well the EQSIS recommendations performed today 01 July?
1. EQSIS Intra: Long TITAN above 1337.1 Target 1349.7 Stop below 1327 CMP 1336
2. EQSIS Intra: Long BAJAJFINSV above 8573 Target 8649.3 Stop below 8512 CMP 8556
3. EQSIS Intra: Long HDFCBANK above 2480.5 Target 2493.6 Stop below 2470 CMP 2480
Top Stocks To Watch On Tuesday 2 July 2019
TORNTPOWER strengthen by 3.32% and ended at Rs.290.65. Additionally it registered a considerable margin in last five session. Trading volume increased by 80 percent at last trading day. However largely the volumes are intraday in nature. There is an evidence of bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 241.
ADANIPOWER surged by 17.43% and settled at Rs.60.3. Meanwhile it registered significant margin on the weekly basis. Trading volume spiked by 735 percent on 1 July 2019. But majority of them are settled intraday. It signals positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 45.
MFSL volume spiked by 75 percent at last trading day. Impressively 76% of the trades are taken for delivery. There could be negative breakout. It is frequently grinding lowere levels for 3 days. It is trading below its recent support zone. The Near term resistance is seen around 457.
RELCAPITAL declined by 2.8% and to close at Rs.64.25. At the same time it maintained significant weakness on the weekly basis. It is one among the top traded stocks. Currently it is trading around the lower range of its price band. The crucial support zone is around 57.
IGL slipped by 3.1% and finished at Rs. 304.9. Trading volume rose by 124 percent. There could be negative breakout. The momentum of the bears is acknowledged by the opening gap.It is trading below its recent support zone. The Near term resistance is seen around 348.
CASTROLIND volume rose by 244 percent on Monday. Moreover 55% of the trades gone for delivery. There is an evidence of negative breakout. It is continuously sliding for3 days. It is trading below its recent support zone. The Near term resistance is seen around 150.
ESCORTS surged by 6.3% and finished at Rs. 570.25. Trading volume rose by 161 percent on 1 July 2019. However most of the trades are intraday trades. It is trading inside the trading range. The Support is seen around 526 and resistance is seen around 610.
STAR strengthen by 3.31% and finished at Rs. 412.1. Derivative traders were aggressive in exiting short positions. Open interest reduced by 8.5 %. It is trading inside the trading range. The Support is seen around 394 and resistance is seen around 437.
NTPC witnessed Star pattern on daily chart. NTPC volume rose by 149 percent on 1 July 2019. It suggest for positive breakout. This stock is currently settled above the recent resistance zone. We see short term support around 132.
ONGC plunged by 4.02% and ended at Rs.161. Trading volume inflated by 54 percent on 1 July 2019. There is an evidence of bearish breakout. It is trading below its recent support zone. The Near term resistance is seen around 174.
MGL declined by 2.94% and to close at Rs.824.8. Trading volume hiked by 151 percent. There is an evidence of bearish trend. It is trading below its recent support zone. The Near term resistance is seen around 901.
ZEEL surged by 5.82% and to close at Rs.358.35. Trading volume increased by 69 percent at last trading day. But most of the trades are intraday in nature. It is oscillating nearer to its resistance zone of 363.
Closing Bell: Nifty ends above 11,850-mark, global leads run up
The Nifty 50 index rose 76 points to 11,865 levels, as per the provisional closing data. Indian equity benchmark index nifty ended with strong gains on Monday, tracking positive cues from global equities amid easing trade tensions between the US and China.
The positive global leads came as a sentiment driver and continued value buying across sectors barring IT and media helped the nifty end above the 11,850 mark.
Zee Entertainment, Dr Reddy’s Labs, Tata Motors, Bajaj-Auto and Eicher Motors were top gainers on the Nifty, while losers were BPCL, ONGC, IOC, Coal India and HCL Technologies.
Market Update: Nifty retain morning gains
The broader Nifty50 was ruling at 11,862, up 73 points. Benchmark index nifty retained morning gains to continue trading higher, lifted by realty, pharma, and auto stocks. The Nifty Realty index was the best performing index during the afternoon session while the Nifty Metal was the worst performing sector.
The market breadth, indicating the overall health of the market, was slightly neutral. On NSE, 890 shares rose and 820 shares fell. A total of 99 shares were unchanged.
Morning Update: Nifty trade higher amid easing concerns on the US-China trade front
The NSE Nifty benchmark climbed to 11,844, up 54 points from the previous close. The Indian headline index nifty were trading on Monday following gains in global markets after positive development in US-China trade negotiations.
On Monday morning, Barring Media and PSU Bank sectors, all sectoral sub-indices surged with handsome gains. The Nifty Bank sub-index was nearly 1 percent gain followed by PVT Bank, Realty, Pharma, Metal and other banking indices.
Top gainers on the 50-scrip index at the time were NTPC, India bulls Housing Finance, IndusInd Bank, UPL, Tata Steel, Vedanta, Dr Reddy’s, Tata Steel, Eicher Motors and JSW Steel, trading between 1.23 per cent and 1.94 per cent higher.
FII & DII data
The foreign institutional investors (FIIs) sold shares worth Rs 513.91 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 182.40 crore as on Jun 28th 2019.
Top News Of The Day
Tata To Buy Jet Assets
- The Tata Group plans to bid for some assets of Jet Airways as it undergoes bankruptcy resolution. The focus for the Tata Group will be assets it can use to scale up and tap the gap created by the exit of Jet.
Government To Introduce GST 2.0
- To mark two years of the GST implementation, the finance ministry will on Monday come up with further reforms in the indirect tax system with introduction of new return system, rationalisation of cash ledger system and a single refund-disbursing mechanism.