Asia markets fall after wall streets banks jump on stress test results,Nik, Dj, Vix US stock futures are little changed as investors await key inflation data,
Oil, Gold, Bonds, Dollar,hits 2 week high after data ,yen remains soft,
Nifty:18972.1/154.7/0.82%;Candle:OGU,Short day green; Bank Nifty:44327.8/206.3/0.47% Candle:OGU,Doji ; HB:OGU;Short day green,1676,
News:The SGX Nifty indicates a marginally higher start for the broader index with a gain of 20 points on Friday. SGX futures stood at 19,170 points. Reliance Capital lenders approve Hinduja’s bid of Rs 9,661 crore for company , NSE-BSE showed maturity in reverting Bank Nifty expiry decision: Sebi’s Madhabi Buch, ICICI Sec to become wholly-owned subsidiary of ICICI Bank. Check out share swap ratio
Events/Results:
Market wrap up(DWM,T,N,E):It was a historic day for the market as the Nifty50 touched a new milestone of 19,000 mark on June 28, the monthly F&O expiry day. We have seen every sector participate in the rally, while the broader markets continued the uptrend for the third straight session along with benchmarks. The BSE Sensex hit the 64,000 mark for the first time intraday, rising 499 points to 63,915, while the Nifty50 jumped 155 points to end at a record closing high of 18,972 and formed a bullish candlestick pattern on the daily timeframe. “This rally was backed by a consolidation breakout observed on the daily chart, indicating a strong upward movement. Additionally, the Nifty index has successfully invalidated a Dark Cloud cover pattern on the weekly chart. It’s worth noting that failed patterns often result in more significant price movements than the initial pattern itself,” the overall trend for the Nifty index is expected to remain positive as long as it stays above the support level of 18,700. This level is significant because Put writers, who provide downside protection, are actively positioned there to prevent a substantial decline in the index, the immediate resistance for the Nifty index at 19,000. If the Nifty convincingly breaks above this level, it may induce an upward movement towards 19,450 , The Nifty Midcap 100 index rose six-tenth of a percent and the Nifty Smallcap 100 index gained a third of a percent.
