Nifty:19398.5/9.5/0.05%;Candle:OF,Doji; Bank Nifty:45151.8/-149.65/-0.33% Candle:OGD,DoJi, ; HB:OGD,Short day red, 1675,
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:19490/-22/-0.12% FII Long72%FutCash;1603;Opt101%
OI data Nifty ( max pain W19350M)
OI data Bank Nifty Nifty(max pain W M)
News:The market is likely to open flat today as the GIFT Nifty indicates a muted start for the broader index, with a loss of 13.50 points after opening the session at 19,498.50. Federal Reserve officials struck a tenuous agreement to pause interest-rate increases at their June meeting, all but committing to hike again later this month in a bid to keep fighting stubborn inflation. JSW Steel will replace mortgage major Housing Development Finance Corporation (HDFC) in S&P BSE Sensex index from July 13, according to the bourse’s release on July 5. Computing solutions provider Netweb Technologies has raised Rs 51 crore from institutional investors in a pre-IPO placement, resulting in the reduction of fresh issue size in its forthcoming IPO.
Events/Results:The National Stock Exchange has removed Indiabulls Housing Finance from its F&O ban list for July 6 and has not added any fresh stock to the list.
Market wrap up(DWM,T,N,E):The market ended the rangebound session on a flat note on July 5, with the benchmark Nifty continuing its uptrend for the seventh consecutive session but the BSE Sensex snapped six-day gains. Auto, FMCG and select IT stocks supported the market, whereas there was some profit booking in banking and financial services. The BSE Sensex fell 33 points to 65,446, while the Nifty50 rose 10 points to 19,399 and formed an Inside Bar kind of candlestick pattern on the daily charts. “The Nifty remained in sideways movement over the past two days, suggesting a lack of demand at higher levels. However, the overall trend remains strong, as the index continues to sit comfortably above critical moving averages, indicating the absence of aggressive short positions at this time,” On the higher end, he feels the resistance is placed between 19,450 and 19,500 which the Nifty might face some difficulty in surpassing. Looking ahead, it is expected that the Nifty will likely continue to trade sideways, as long as it sustains within the range of 19,200 to 19,500, implying rangebound trades unless there is a directional breakout, he said. The broader markets performed better than benchmarks as the Nifty Midcap 100 and Smallcap 100 indices gained more than 0.7 percent each on positive breadth.
