MID SESSION SUB DUED
Nifty fell sharply in the Second
half and lost 70 points and closed July month with a gain of
110 points. recovered sharply after forenoon’s fall and recovered
what it lost on Monday . Stop loss for Nifty long
positions may be maintained at 7705 on close basis. . Nifty
spot is expected to encounter resistance at 7760 7795 and find
support at 7680, 7645, for Friday. While Global cues, Quarterly
results and Funds flow are expected to
broadly guide the market movement, based on the present market
position, market can be expected to experience volatile
movements with subdued midsession.
Nifty
7721 - 70
Review
for Thursday :: Bearish Second Half … !!!
Market
opened steady and traded in a very narrow range during forenoon and
encountered huge selling pressure in the Second half dur to
derivative closing and closed with a loss of more than0.75% for the
day., 43 of Nifty stocks closed in the red but broader market was
steady with Advance Decline ratio at 1:!. Realty and Media indices
gained while PSU Bank, Bank Nifty, Infra, Auto and Energy indices
declined. HDFC, ICICI Bank, Axis Bank and L&T dragged down
Nifty by more than 25 points.
Cipla,
Tata Steel, BPCL, Lupin and remained gainers among Nifty
stocks while NTPC, IDFC, HCL Tech, Asian Paints remained
losers.
IRB,
Sun TV, Aurobindo, Aditya Birla remained major
gainers among F&O stocks while Arvind, NTPC, JP Associates,
HCL Tech declined among F&O stocks.
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