Asia markets broadly fall as services activity in Japan, china in expansion territory, Nik,33312/-96/-0.29% Dj,34418/11/0.03% Vix13.7/1% Us stock futures are little changed Tuesday night in a holiday shortened night, BC 30801/-490/-1.6%
Oil, Gold, Bonds, Dollar, yen steady as market on intervention alert , Aussie up before RBA decision,
Nifty:19389/66.45/0.34%;Candle:OGU,Doji; Bank Nifty:45301.45/143.35/0.32% Candle:OGU,Doji ; HB:OGU,Doji,1730,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gifty Nifty:% FII Long72%FutCash;234;Opt103%
OI data Nifty ( max pain W19300M)
OI data Bank Nifty Nifty(max pain W M)
News:The GIFT Nifty indicates a flat start for the broader index with a gain of 19.50 points on Wednesday. The futures stood at 19,513. LTIMindtree, a subsidiary of engineering giant Larsen & Toubro, will replace mortgage major Housing Development Finance Corporation (HDFC) from the Nifty 50 index from July 13. Lodha Group, listed as Macrotech Developers, has recorded its highest-ever first-quarter pre-sales at Rs 3,353 crore, marking a robust start to the financial year 2023-24.
Events/Results:The National Stock Exchange has retained Indiabulls Housing Finance to its F&O ban list for July 5.
Market wrap up(DWM,T,N,E):The market has been witnessing continued buying interest for six days in a row. But technical indicators on July 4 showed some tiredness on the charts, signalling the possibility of some correction or consolidation in the next few days as the Nifty50 surged 788 points in the last six days. “Given the recent strong surge, indicators are entering an overbought territory, and prices are significantly deviating from the 5-day EMA (exponential moving average 19,178), indicating the possibility of occasional dips or sideways consolidation in the short term,” “The support levels to watch are the bullish gap left on Monday around 19,200–19250 followed by strong support at the psychological level of 19,000. On the upside, the immediate resistance is at 19,500–19,540 in the uncharted zone,” We have seen buying in technology, select banking and financial services, and pharma stocks, whereas there was correction in select auto and oil & gas stocks.
