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Stock Market Daily Updates: 5 July 2021

In the coming days, the domestic market will continue to track cues from the global markets in order to gain direction in movement.

Photo Credit :

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Dear Trader…

Indian equity ended green on Friday led by gains in ICICI Bank, Reliance Industries, SBI, Titan Company and HDFC. Markets made a cautious start, as India recorded 43,360 infections and 796 fatalities in the last 24 hours. In just over five week, from May 23 to July 1, the country reported 100,000 deaths from Covid even as the second wave waned. 

Sentiments remained in lackluster mood as the Financial Stability Report (FSR) released by the Reserve Bank of India (RBI) said that the gross non-performing assets (GNPAs) ratio of banks may increase to 9.8 percent by March 2022 from 7.48 percent in March 2021 under a baseline scenario. Besides, foreign institutional investors (FIIs) stood as net sellers in the capital market as they offloaded shares worth Rs 1,245.29 crore on Thursday, as per provisional exchange data.

FII and FPIs, on Friday saw a net sold of Rs 982.80 crore in the cash segment. A total of Rs 5843.31 crore was sold against a total purchase of Rs 4860.51 crore. Domestic institutional investors today saw a net purchase of Rs 930.39 crore in the cash segment. A total of Rs 3991.69 crore was sold against a total purchase of Rs 4922.08 crore.

Recently, the FM announced Rs. 1.5 lakh crore of additional credit for small businesses, more funds for the healthcare sector and loans to tourism agencies and guides in an attempt to accelerate liquidity to the most-concerning sectors of the economy. These initiatives aim to cushion the foundation of the economy both from the demand and supply side. Without a doubt, these measures are a step in the right direction, but the gloomy economy connoted by the core sector data screams for something more significant. India’s core sectors registered a 16% YoY jump in May, which is much lower than the 61% YoY rise we saw in April. As the core data points to a slowdown in recovery, Indian economy may demand additional support from the Govt. to recover swiftly.

Ø INDEX MOVEMENT - 05.07.2021

  • Nifty Future closed @ 15741 as on 02.07.2021..!!

Dear Traders,

Nifty Future has resistance at 15777 – 15808 Point; above which other resistance levels are at 15838 - 15888 Point with highly Volatile Trend,

Nifty Future has Downside support levels are at 15707 – 15676 Point; below15676 Point, other support levels are at 15636 - 15606 Point.

I am positive for the next bullish trend only above @ 15808 Point but be with the trend. Let the market decide further moves. 

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Nifty Future crosses @ 15808 Point, again then the upper side target is quite high and it may touch @ 15838 Point in the short term...!!!

  • Bank Nifty Future closed @ 34951 as on 02.07.2021..!!

Dear Traders,

Bank Nifty Future has resistance at 35088 – 35202 Point; above which other resistance levels are at 35373 – 35505 Point with highly Volatile Trend,

Bank Nifty Future has Downside support levels are at 34808 – 34676 Point; below34676 Point, other support levels are at 34505 – 34373 Point.

I am positive for the next bullish trend only above @ 35373 Point but be with the trend. Let the market decide further moves. 

As we are saying from many days, Buying is suggested in falls only...and it’s still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!

If Bank Nifty Future crosses @ 35373 Point, again then the upper side target is quite high and it may touch @ 35505 Point in the short term...!!

Ø Trading Idea for the derivative stocks….

  • TITAN LTD @ Positive Trend @ Rs 1717 with Stoploss of Rs @ 1707 for the Target near @ Rs 1787 - 1800 in short term…..!!!


  • BHARAT FORGE @ Positive Trend @ Rs 760 with Stoploss of Rs @ 747 for the Target near @ Rs 797 – 808 in short term…..!!!


  • TVS MOTOR @ Positive Trend @ Rs 588 with Stoploss of Rs @ 575 for the Target near @ Rs 633 – 640 in short term…..!!!


  • DABUR INDIA @ Positive Trend @ Rs 560 with Stoploss of Rs @ 553 for the Target near @ Rs 606 – 636 in short term…..!!!


  • HDFC LTD @ Negative Trend @ Rs 2525 with Stop loss of Rs @ 2540 for the Target near @ Rs 2444 – 2424 in short term...!!!


  • ADANI ENT. @ Negative Trend @ Rs 1447 with Stop loss of Rs @ 1460 for the Target near @ Rs 1404 - 1388 in short term...!!!


  • INDUSIND BANK @ Negative Trend @ Rs 1047 with Stop loss of Rs @ 1054 for the Target near @ Rs 996 - 980 in short term...!!!


  • CIPLA LTD @ Negative Trend @ Rs 997with Stop loss of Rs @ 1013 for the Target near @ Rs 960 – 944 in short term...!!!

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Nikhil Bhatt | Research Analyst - SEBI

The author is a well established entrepreneur having a more than 16 years of experience in the field of stock market and financial management.

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