IntradayTrade dot Net
Market Report

Monday, 01-July-2013


  • Sensex, the 30-share index, commenced on a firm note at 19,456 and rose further by 181.58 points, or +0.94 per cent, to close at 19,577.39 today. This is Sensex's highest close since 19,610.48 on June 3. Similarly, the wide based National Stock Index, Nifty, closed 56.65 points, or +0.97 per cent higher at 5,898.85 today, extending its rally for the third straight session amid higher foreign fund inflows.

  • Brokers said energy stocks rose smartly after the government agreed to raise natural-gas prices as part of economic-policy overhaul to revive growth. They said foreign funds snapped a 13-day long selling streak and turned net buyers in the last two sessions, which helped the market to rise.

  • In the global scene, Japan's Nikkei average climbed 1.3 percent to a one-month high on Monday as investors were encouraged by the index's resilience in holding off early rounds of profit-taking. However, other markets edged lower, hurt by worries that the US Federal Reserve could start scaling back its massive monetary stimulus in September, and signs of an economic slowdown in China.

  • Book profits above 6050-6100 level, says Ashwani Gujral. This time we have bounced back from 5500-5600, this is the right level to bounce back from and easily your next target should be upwards of 6000. Once it pass 6000, then the risk reward gets unfavourable so beyond that point do not take longs but till that time you can easily go long and look towards booking profits above 6050-6100 type of zones, he says.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)