Asia markets extend decline as US jobs data triggers sell off on wall street, Nik,32607/-167/-0.51% Dj,33922/-366/-1.4% Vix15.44 / 8.9% US stock futures are little changed as investors look toward Friday jobs report, BC
Oil,71.8, near flat as tighter oil supplies offset US rate hike risk, Gold,1916.1, dips as strong labor data fuels rate hike bets, Bonds,4.048, 2 year treasury yield hits 16 year high after ADP jobs data shatters expectations, Dollar, eases after strong labor market reports,
Nifty:19497.3/98.8/0.51%;Candle:OGD,Doji; Bank Nifty:45339.9/188.1/0.42% Candle:OGD,Short day green, ; HB:Flat,Doji,1675
Nifty :Supp Rest
Banknifty:Supp Rest .
Gift Nifty:% FII Long73%FutCash;2641;Opt100%
OI data Nifty ( max pain W19450M)
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 15 points on Friday. The futures stood at 19,503. The Reserve Bank of India (RBI) on July 6 said it will conduct a four-day variable rate reverse repo auction for a notified amount of Rs 2 lakh crore on July 7. Titan Company on July 6 said it has registered a 20 percent year-on-year (YoY) revenue growth with all key consumer businesses exhibiting double-digit growth for the quarter ended June 30, 2023. US weekly jobless claims rise moderately; layoffs drop in June, Bitcoin hit its highest level in 13 months on Thursday rising as much as 3.28% to $31,500.
Events/Results:The National Stock Exchange has added BHEL and Delta Corp to its F&O ban list for July 7.
Market wrap up(DWM,T,N,E):The market turned strong again after two-day losses for consolidation, and jumped to new highs on July 6, backed majorly by foreign institutional investors’ support. Buying interest was seen in auto, oil & gas, select banks, metal, and pharma stocks. The BSE Sensex hit a new all-time high of 65,833 and ended with 340 points gains at 65,786, while the Nifty50 finally hit 19,500 mark intraday for the first time, rising 99 points to end at record closing high of 19,497, and formed bullish candlestick pattern on the daily charts. “A long bull candle formation signals that the market is in a sharp up trended move and there is a lack of selling interest at the new highs. This could be considered as an uptrend continuation pattern,” Nifty reached the initial upside trajectory of 19,500 levels, which is 1.236 percent Fibonacci projection of weekly latest bottom-top-bottom swings. Hence, a sustainable move above this hurdle could pull Nifty towards another resistance of this projection at 19,800 levels -1.382 percent projection in the coming weeks, he feels. The immediate support is at 19,400 levels. The broader markets rallied for yet another session, backed by positive breadth. The Nifty Midcap 100 index climbed 1 percent and Smallcap 100 index gained 0.8 percent.
