Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty recovered from early morning losses to end mildly in the green on July 04. Nifty opened lower and fell to make an intra-day low at 1015 Hrs. It later gradually rose through the day to end at near the intra-day high. At close, Nifty was up 0.53% or 83 points at 15835.4.
Volumes on the NSE were lower than the recent average. Among sectors, Metals were the main loser while FMCG, Banks and Capital Goods indices rose the most. Advance decline ratio was comfortably in the positive. Broad market indices i.e. Midcap and Small cap indices rose a little more than the Nifty.
Shares were mixed in Asia on Monday. European equities advanced as bargain hunters stepped in after another week of declines, even as economic growth concerns continued to limit appetite for riskier assets.
As expected, Nifty seems to have started its slow journey up. It can face resistance at 15927 and then at 16173. On falls, 15662 remains support.