Taking positive cues from the strong Asian markets, the Sensex and the Nifty 50 began the session with a gap-up open. The Nikkei 225 has jumped 2.2 per cent to 28,569 levels and Hang Seng index has climbed 0.8 per cent to 27,574 levels in today’s session. The Sensex and the Nifty 50 have advanced 0.4 per cent and 0.48 per cent respectively.
The market breadth of the Nifty 50 is biased towards advances. On the other hand, the India VIX has fallen 2 per cent to 12.6 levels. Both the Nifty mid and small-cap indices have climbed 1 per cent each.
Apart from the Nifty IT index which is slightly hovering in the negative territory, all the other sectoral indices are featuring in the positive territory. Top sectoral gainers are Nifty realty and Nifty PVT Bank sectoral indices that have gained 4 per cent and 0.97 per cent correspondingly.
Also read: The Nifty Call : Nifty 50 July Futures (15,708)
The Nifty 50 July month contract began the session with a gap-up open at 15,777 against the previous close of 15,722. After marking an intraday low at 15,760 the contract continued to trend upwards. It tests a vital resistance at 15,800.
A strong rally above this barrier will take the contract northwards to 15,825 and then to 15,850 levels. Resistances above these levels are placed at 15,870 and 15,900. A fall below the key base level of 15,750 can bring back selling pressure and pull the contract down to 15,720 and then to 15,700 levels. Supports below 15,700 are placed at 15,675 and 15,650 levels.
- Strategy: Make use of intraday dips to buy the contract with a stop-loss at 15,750 levels
- Supports: 15,750 and 15,720
- Resistances: 15,800 and 15,825
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.