Market indices started the August F&O series on a subdued note with ICICI Bank leading the decline even as the government in consensus with the opposition stepped up its efforts to pass the crucial GST Bill. The Sensex ended down 157 points at 28,052 and the Nifty50 slipped 28 points to settle at 8,639. The broader markets outperformed the benchmarks, the BSE Midcap and Small cap indices ended up 0.2%-0.7% each. Market breadth ended negative with 1446 losers and 1235 gainers on the BSE. The Reserve Bank of India (RBI) on Thursday allowed demat account-holders with depositories to bid for trades in the online anonymous bond trading platform of the central bank. Foreign portfolio investors remained buyers in Indian equities with net purchases of Rs 1,767.06 crore on Thursday.
The technical chart shows Bullish trend For Monday trading session, with the strong supports at 8630 and 8580. Resistance level will be at 8670 and 8720. Follow Buy on Dip approach for higher profits.
Intraday Tips Tomorrow (Monday): 1st August
BUY DWARKESH ABOVE 283 TARGET 285.80, 288.60, 291.40 STOPLOSS 277.40
BUY CGCL ABOVE 200 TARGET 202, 204, 206 STOPLOSS 196
SELL GEECEE BELOW 170 TARGET 168.30, 166.60, 164.90 STOPLOSS 173.40