Nifty Performance: Nifty 50 performed well for the day by making higher high in every hour. The best phase is that the prices are sustaining above 8400 handle as a gap up was marked on chart four days ago but we have a positive feel for the Nifty as the Monsoon session (18th July 2016) is coming closer, a release for GST bill will be made and since Nifty is forming bridge from Aug 2015 and high of 2016 we expect the index can continue till 8600 to 8650 brick for tomorrow’s session.
A news flash of RBI came in the market it just boosted the banking sectors with the confidence of buyers RBI is about to give a liquidity of Rs 80000 Crore as an aid by the end of June. Where RBI already attained that target with more liquidity injection yet to follow through open market operation. Sensex railed 10.37 % by this news.
Bank Nifty: Bank Nifty is moving in a sharp up trend and made high of 18921 for the day and closed in positive swing @ 18903 we expect the same up trend for tomorrow till the handle of 19000 and 19130. Similar to the nifty it’s the high of 2016 for banking sector as well. We have more confidence on the PSU stocks regarding the returns of buyers.
|Nifty Day Performance|