Daily share market update.

Post expiry day rally; GST expected with caution. Nifty takes past month gains, bears dominating the market since the start of June. As a post expiry day today Indian benchmark index Nifty recovered after a gap down opening. GST expectation creates a caution in the market environment.  Unless we see a significant gap up opening, we recommend bulls to the sideline in the market.

Sector

  • FMCG sector recorded a record a new historical high by soaring by 2.3% as ITC shares roused by 3.6%.

  • PHARMA sector perks the previous week losses by mounting 1.80% owing to US action on drugs and vaccine patterns.

  • PSU BANKS trying to cover yesterday’s losses in today’s session. It currently prevails near to one of the major support zone 3300 – 3225.

  • REALTY and INFRA sectors covering opening losses in the post session of the market.

  • ENERGY sector had a sagging movement near to its support zone.

  • BANKING sector is currently above its support level 23000. A decisive break below the level can witness a technical trend reversal.

Stocks

Stocks waiting cautiously as traders eyes GST.

  • BANKBARODA, ITC, SUNPHARMA, CIPLA, AUROPHARMA are the top gainers of the day. US action on patterns on drugs and vaccines made PHARMA sectors gaining momentum.

  • TATAMTRDVR, TECHM, TATAPOWER, HDFC, IBULHSGFIN   are the top losers of the day. Tata shares bleed owing to causes.

  • OIL dropped by 2.10% and finished at Rs. 259.6. Meanwhile, it registered a remarkable decline on the weekly basis. Trading volume rose by 165 percent on 30 June 2017. Interestingly 70% of the trades are deliverable volume. It gives an impression of a negative breakout. It is trading below its recent support zone. The near-term resistance is seen around 305.

  • OFSS witnessed Bullish Engulfing pattern on daily chart. OFSS volume spiked by 140 percent in the last session. Moreover, 85% of the trades gone for delivery. It is trading inside the trading range. The support is seen around 3480 and resistance is seen around 3780.

  • MOTHERSUMI witnessed Bullish Piercing pattern on daily chart. Its volume hiked by 60 percent in last trading day. Noticeably 60% of the trades are deliverable volume. Currently, it is trading around the lower range of its price band. The crucial support zone is around 420.

  • ITC gained 3.87% and closed at Rs.323.65. Trading volume hiked by 168 percent on 30 June 2017. Moreover, 64% of the trades were taken for delivery. There is an evidence of bullish breakout. Derivative traders were aggressive in adding long positions. Open interest increased by 10.45 %. This stock is currently settled above the recent resistance zone. We see short-term support around 300.

  • IDFC witnessed bear domination by breaking through its major support level. IDFC volume spiked by 253 percent. Surprisingly 65% of the trades are deliverable volume. Currently, it is trading around the lower range of its price band. The crucial support zone is around 50.

  • GRASIM volume inflated by 111 percent on Friday. It suggests a bullish breakout. This stock is currently settled above the recent resistance zone. We see short-term support around 1160.

  • BRITANNIA consolidating within its range bound. BRITANNIA volume spiked by 115 percent. Moreover, 72% of the trades are deliverable volume. It is oscillating nearer to its resistance zone of 3750.

Comment your views/stocks to buy below.

Summary
Share market update for 30 June
Article Name
Share market update for 30 June
Description
Post expiry day rally; GST expected with caution. Nifty takes past month gains, bears dominating the market since the start of June.
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EQSIS
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