Daily Market Commentary - July 1, 2020 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head

Nifty opened flattish on the back of the mixed bag global market and witnessed consistent buying post first half an hour. Nifty managed to cut a hurdle of 10410 and close above it at 10430.

Market breadth remained in favor of bulls. For every three gainers, there were a couple of losers. Nifty IT, Auto, Pharma and Realty closed in the red. The rest of the sectoral indices closed in the green. India VIX contracted by more than 3% closed above 28, USDINR trading at 75.58.

Going forward, major support will be seen around 10220 and Resistance will be 10550.

Source : Equity Bulls

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