Market ended flat. Nifty above 7500 & Sensex above 25 k mark.

Markets held the positiveness on the last day of the week and the first day of July month derivative expiry. Nifty ended at 7512.25, up 19.05 points and Sensex gained 48.44 points to close at 25111.11 as Brent crude fell below $113 a barrel on Friday, on track for its biggest weekly loss since January as investors unwound positions on reduced concerns over exports from strife-torn Iraq. 

Among CNX sectorial indices, CNX Pharma gained the most by 2.77% followed by CNX IT(2.51%) whereas Metal index was the top loser by 1.37%. 

In Nifty50 stocks, TechM was the top gainer by 4.09% gain and Mcdowell-n hit the worst by 3.77%.

Advance Decline ratio was slightly on positive side as 620 stocks gained and 538 stocks declined on NSE today.

Nifty Outlook : Nifty is trading into a specific range and depending on many factors to come in next month; i.e. very first budget by Hon FM Mr.Arun Jaitley of a new Govt. which will be announced on 10th July and corporate results which may commence with IT giant Infy on July 12. Also we must not ignore the scarcity of water all over the nation if monsoon won't arrive soon. Technically speaking, spot nifty has a good support at 7440 as well as a resistance at 7660-7680 level. In the month of June, nifty's trend was declining and reduced the broad range of 240 points to 50 points from 7540 & 7490. So any breakthrough above or below these levels leads to a smart rally considering the above mentioned supports.

Chart 1 Nifty June