Market Overview
Nifty Overview
- Nifty closed on a positive note last week, reaching a fresh all-time high and forming a bullish belt hold on the weekly timeframe.
- With Q1 results declared over the weekend, several stocks will be in focus this week.
- GIFTY Nifty indicated a flat to negative opening, with Nifty opening at 24329.45 and 79915 on Monday.
Global Market Insights
- Global markets exhibited bullish sentiments, with the MSCI Global Market closing 1.97% higher.
- US markets also hit fresh all-time highs, with the S&P 500 gaining nearly 1.95% and Nasdaq outperforming with 3.49% gains for the same period.
- US market sentiments were uplifted amid a decline in bond yields, despite reports of decreased hiring in June and a surge in the unemployment rate, the highest since 2021. VLA Ambala, SEBI registered RA, mentioned no expected rate cuts in the next 3-4 months.
- European markets also gained, bolstered by the UK election results. Smaller and mid-cap indices reached a fresh two-year high following the Labour Party’s victory.
Stocks to Watch
- Titan
- Bajaj Auto
- Tata Motors
- Kalyan Jewellers
Sectors to Watch
- MEDIA
- ENERGY
- FMCG
- PSU BANK
- AUTO
Nifty Key Levels for Intraday
- Support: 24220, 24150
- Resistance: 24350, 24450
BankNifty Key Levels for Intraday
- Support: 52350, 52000
- Resistance: 52830, 53040
This overview provides a concise summary of the market sentiment, key stocks and sectors to watch, and crucial support and resistance levels for Nifty and Bank Nifty, helping traders prepare for the week ahead.
Get daily live market researched trades here – https://t.me/SMTStockMarketToday
Disclaimer: This article provides general information and should not be construed as investment advice. Investors should consider their financial situation and consult with professionals before making investment decisions.