July 16, 2024 / 09:09 AM IST
Prashanth Tapse, Senior VP (Research), Mehta Equities
Our stock markets will be closed on Wednesday, July 17th, for Muharram observance. Fed Chair Powell sees no hard-landing scenario for the U.S. economy, and both Dow Jones and S&P 500 hit record highs.
Nifty is poised for more gains with key levels between 23,500 and 25,000. FIIs were net buyers at Rs 2685 crores, while DIIs were net sellers at Rs 331 crores. Call writing at 25,000 and 24,900 and Put writing at 24,600 and 24,100 suggest resistance at 25,000.
Q1 earnings from Bajaj Auto, Just Dial, L&T Financial, Network 18, and TV18 Broadcasting today, with ASIAN PAINTS and LTIM tomorrow. Market sentiment is boosted by the potential of a second Trump term.
Recommended trades: Nifty at 24,502 and Bank Nifty at 52,279, both with specified stops and targets. Bullish on NTPC, Zydus Life, and Torrent Pharma, with IRCTC and NTPC as top buys for intermonth strategy.
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