Markets opened with negative sentiments but soon momentum was boosted as soon as RBI declared repo rate hike and finally closed on a strong note. Nifty future moved in one sided rally after it surpassed the resistance mark of 6150 and closed above the crucial level of 6200 indicating that the index is again in strong zone. Now, 6270 is seen as major resistance for nifty while correction can be said if it holds below the immediate support of 6150.
SUPPORT : 6190 & 6150
RESISTANCE: 6270 & 6320
DAILY STOCK MARKET TREND
- Banks, realty, metal stocks push Sensex 350 points higher.
- RBI hikes repo rate, cuts MSF by 25 bps each; CRR unchanged.
- Maruti Suzuki jumps 6% on strong Q2 earnings.
- ApolloHos up 2%, partners with KKR to raise Rs 550 cr.
- Marico Q2 net up 23%, margin expands but revenues slip.
INTRADAY STOCK TIPS
INDUSINDBANK EQ BUY ABOVE 440 TARGETS 444.40/448.80/453.20 SL 435.60
TATAMOTORS EQ BUY ABOVE 385 TARGETS 388.85/392.70/396.70 SL 381.15
FUTURE STOCK TIPS
HDFC FUT BUY ABOVE 846.50 TARGETS 854.50/862.50/868.50 SL 838.50
LICHSGFIN FUT BUY ABOVE 210.50 TARGETS 212.50/214.50/216.50 SL 208.50