Nifty and Bank Nifty Tips for Monday (31st July)

Market retreated from high due to subdued result from banking stock and consumer discretionary, while pharma continued to taste the bitterness in earnings owing to US FDA inspection and pricing pressure. Asian stock markets sagged on Friday after US tech shares retreated from recent rallies, though optimism about US corporate earnings and the global economy underpinned overall sentiment. This consolidation may continue in the near-term but investors may start accumulating due to surplus liquidity and likely change in RBI’s stance with a 25bps rate cut in the next week policy meet. Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap, up 0.5% and 0.4% respectively. Sensex settled the day at 32,309, down 73 points, while the Nifty50 ended at 10,014, down 6 points.

Nifty and Bank Nifty Tips for Monday (31st July)

Nifty and Bank Nifty Tips

Nifty Point Of View
TREND: BEARISH TO CONSOLIDATE
RESISTANCE: 10020, 10070
SUPPORT: 9940, 9890
STRATEGY: SELL ON HIGH

Bank Nifty Point Of View
TREND: BEARISH TO CONSOLIDATE
RESISTANCE: 24860, 25000
SUPPORT: 24650, 24510
STRATEGY: SELL ON HIGH

Stock Tips For 31st July

CALL : BUY JINDWORLD ABOVE 725 TARGETS 732 , 739 , 746 STOPLOSS 711
CALL : BUY RAMCOSYS ABOVE 456 TARGETS 460.5 , 465 , 469.5 STOPLOSS 447
CALL : SELL JBFIND BELOW 208 TARGETS 206 , 204 , 202 STOPLOSS 212