Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty recovered from morning losses on June 28 following the positive global cues. At close, Nifty was up 0.11% or 18.2 at 15850.2. Among sectors, Oil & Gas, Metals and Auto indices rose the most while Consumer Durables and Telecom indices lost the most.
Asian stocks opened weak but inched up through the day. Global stocks rose on Tuesday inspite of higher crude prices as China softened its strict Covid protocols, easing investor concerns about global growth.
Nifty ended in positive after a day of struggle. The upper gap on daily charts made on June 28 was filled intraday and hence this bullishness was offset to an extent. A breach of 15927 is necessary to build on further gains. On falls 15619 can offer support.