Dear Trader…
IT stocks saved the day for bulls on Tuesday when profit booking was seen in most parts of the domestic equity market. Before ending with a 205-point gain, Sensex zoomed past the 67,000 mark for the first time. Nifty Future touched a fresh high at 19,824.
FII and FPIs, on Tuesday, saw a net purchase of Rs 2115.84 crore in the cash segment. A total of Rs 8954.77 crore was sold against a total purchase of Rs 11070.61 crore. Domestic institutional investors saw a net sale of Rs 1317.56 crore in the cash segment. A total of Rs 8095.96 crore was sold against a total purchase of Rs 6778.40 crore.
Technically, the important key resistances placed in July Nifty future are at 19770 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 19880 - 19909 levels. Immediate support is placed at 19707 - 19676 levels.
Ø Trading Idea for the derivative stocks….
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