6 July Closing Market Updates

6 July Closing Market Updates 16:50
Today Nifty closed with a dip of 10.35 points at 5316.95 after making low of 5287.75.Whereas Sensex dropped 17.55 points to settle at 17521.12. Among BSE sectoral indices, FMCG and Bankex gained by 0.67% and 0.18% respectively.Realty index was the top loser by 1.20%. In Nifty50 stocks, ICICI Bank gained the most by 1.65% to close at 936.Jindalstel was the top loser by 3.45% and closed at 454.4.
LITL was the turnover topper by the traded quantity and SBI was by the traded value. Advance/Decline Ratio was negative as 885 stocks declined and 569 stocks gained today on NSE.


Nifty Outlook :


Yesterday, Nifty future was looking overbought around 5350-5354 levels and expected downward movement, which witnessed today for the whole day as Nifty failed to cross yesterday's high of 5354.5. On weekly chart, Nifty Fut. has resistance at around 5390-5400 levels. For the next week, Nifty should take support at 5390 and 5370 for targeting 5440 level. Consecutive closings above 5354 level will be considered as a strength in bullishness. On the other hand, result days are coming from the next week. Infy, TCS and HDFC bank announcing their Q1 results on 12th July and 13th July respectively.So we should keep an eye on major announcements by the foremost companies. Any unexpected worsen result may pull Nifty down to touch 5160 in a day trade, but in such panic situation the volumes and the day closing would be considered as vital tool to judge the further movement.


Nifty Fut  Resistance : 5370/5390
Nifty Support : 5290/5270


Global Cues :


Nikkei : -59.05
HangSeng : -8.49
FTSE : -0.11
CAC : -12.22
DAX : -22.76
Dow Futures : -19.00
Nasdaq Futures : -4.00
Gold : 1595.59 US$ / Oz
Silver : 27.47 US$/Oz
USD/INR : 55.4080
EUR/INR : 68.5870
GBP/INR : 86.1270
JPY/INR : 69.6700


Results Calender :

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