Equity Markets Reach Fifth-Day Peak on Strong Global Cues
Dear Trader…
Aided by a late-session resurgence in Reliance and an uptick in banking and media stocks on strong quarterly earnings, the BSE Sensex rallied 302 points to make a closing record of 67,097, while the broader Nifty Future jumped 77 points to settle at 19,847.
FII and FPIs, on Wednesday, saw a net purchase of Rs 1165.47 crore in the cash segment. A total of Rs 7807.60 crore was sold against a total purchase of Rs 8973.07 crore. Domestic institutional investors saw a net sold of Rs 2134.54 crore in the cash segment. A total of Rs 8523.61 crore was sold against a total purchase of Rs 6389.07 crore.
Technically, the important key resistances placed in July Nifty future are at 19847 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 19909 - 19939 levels. Immediate support is placed at 19808 - 19737 levels.
Ø Trading Idea for the derivative stocks….
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