Page 6 - Devarsh Vakil News Today

Nifty gains 66 points and stands at 19,389 points at the end of the day. Analysts have warned of a potential downturn, as Nifty ends its session with a “Hanging Man” candlestick pattern and hints at a short-term reversal if the low of the candle is breached

IT and financial services stocks were among the top drivers of the market while some selling in oil and gas and realty names knocked off some points from the top of the day.

Nifty saw huge short covering of the 19,300 call on Tuesday, which once again caused it to rally. As we get closer to the 19,500 mark on Nifty in the July expiry, expect to see some consolidation on the index. Bank Nifty is slowly seeing short straddles start to be created at the 45,500 mark for the July-end expiry. Taking the premium into account, one should not expect a run-away rally post 45500 in the very near term. It is also healthy if the indices consolidate for some time as this makes it...

Indiabulls Housing Finance has been placed under the futures and options (F&O) ban, but will still be available for trading in the cash market. The ban on a stock occurs when the open interest (OI) crosses 95% of the market-wide positions limits (MWPL) and is only lifted when the OI falls below 80%. Traders who deal with indices are not affected by security bans. Indiabulls Housings MWPL stood at 97.2% on Friday, with OI at 59.5 million, up by 9.9% from the previous session.

Hectic buying in index majors Reliance Industries, ITC and HDFC twins also added to the market momentum

Hectic buying in index majors Reliance Industries, ITC and HDFC twins also added to the momentum, traders said.

Equity benchmarks Sensex and Nifty soared to fresh closing record highs for the third successive session on Monday, with the 30-share index crossing the historic 65,000 mark on strong foreign fund flows and a rally in global equities. Hectic buying in index majors Reliance Industries, ITC and HDFC

This week, the market will be looking at major economic data such as automobile sector monthly sales, S&P Global India Services PMI, Composite PMI, and US trade balance that are also expected to come out.

The Sensex closed 803 points, or 1.26 per cent, higher at 64,718.56 while the Nifty closed the day at 19,189.05, up 217 points, or 1.14 per cent. This was the third consecutive session of gains for the Sensex and the fourth consecutive session of gains for the Nifty.

Equity benchmark indices scaled fresh all-time closing highs on Friday, propelled by Intense buying in index heavyweights Infosys, HDFC twins, Reliance Industries and TCS amid healthy macroeconomic indicators. Besides, foreign fund inflows and a firm trend in the global markets further bolstered