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Indian equity markets continued to remain resilient, trading with a positive bias throughout the day.
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; Daily Equity Report 26-06-2019 support@starindiaresearch.com8817002233 Outlook of Nifty & Bank Nifty Today Nifty Outlook:- Indian equity markets continued to remain resilient, trading with a positive bias throughout the day. Nifty, Bank Nifty and Nifty Midcap50 index closed ~0.7% higher as across the board long buying weighed in. Nifty Metal index was among the outperformers and it gained ~2%, as heavy short covering was seen in major heavyweights like Tata Steel and JSW Steel. Market breadth in favour of the advances with advance/decline ratio closing at 1:3x. Nifty Future Support- Resistance 11855/11950 R1/R2 11650/11515 S1/S2 Daily Chart:
; Daily Newsletter Page 2 Bank Nifty Outlook:- Bank Nifty Future Support- Resistance Bank Nifty closed at 30847 .The Nifty PSU Bank index and Nifty pvt bank closed in the green. Major banking stocks showed good rally from their supports. Axis bank, icici bank, federal bank, kotak bank, hdfc bank were the major gainers. We may continue to see upside as budget is lined up on 5th of july 2019. Buy on dips near 30600 for the targets of 30900 with 30400 stoploss . 30950/31200 R1/R2 30650/30400 S1/S2 Daily Chart: Technical Outlook Top Losers YESBANK INFRATEL ASIANPAINT INDUSINDBANK Top Gainers JSWSTEEL BPCL RELIANCE AXISBANK 109.65 269.30 1362.00 1451.75 266.00 392.40 1295.40 780.10
; Daily Newsletter Page 3 Stock Corner: Shares of HDFC AMC hit a 52-week high on the BSE in today’s trade. The stock has rallied for the fourth consecutive session. Also, the stock has surpassed its previous high of Rs1,970 recorded on August 27, 2018. Dr. Reddy's Laboratories Ltd. announced the launch of Tobramycin Inhalation Solution, USP a therapeutic equivalent generic version of TOBI (tobramycin) 1. Inhalation Solution, approved by the US Food and Drug Administration (USFDA). 2. Over 20 percent of Infosys' shareholders have voted against changing employment 3. terms of the CEO and MD Salil Parekh, even as promoters have unanimously approved the move, voting results of the recently concluded annual general meeting show. Close to 21.61 percent of public shareholders voted against changing the terms 4. of employment of Parekh. This includes slashing the vesting period of performance- based shares every year, as opposed to after three years before. Stock in ban period IDBI, ADANIPOWER, JETAIRWAYS, RELCAP, RELINFRA
Daily Newsletter Page 4 ; Page 3 Technical outlook of top 2 stocks AXISBANK FUTURE AXISBANK FUTURE closed near days high , we may see some more upside to continue in the coming trading session . INTRADAY R1 R2 R3 795 810 825 772 760 740 bullish Stock Info VOLUME DAY HIGH DAY LOW MARKET LOT SIZE VWAP 10044436 783 756.55 1200 771.01 LEVEL S1 S2 S3 All over trends
; Daily Newsletter Page 5 PFC FUTURE PFC FUTURE closed near days high , we may see some more upside to continue in the coming trading session . INTRADAY R1 R2 R3 136 138 140 132 130 128 Bullish Stock Info VOLUME DAY HIGH DAY LOW MARKET LOT SIZE VWAP 6965215 135.40 131.25 6200 133.96 LEVEL S1 S2 S3 All over trends
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