Daily Market Commentary - July 24, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Nifty started the day with small cuts on the back of weak global cues and it consolidated below 11125 levels before a bounce-back near to 11200 levels. Reliance remained the pick of the stocks. IT pack also help indices to minimize the losses.

Market breadth remained in favor of bears. For every four gainers, there were five losers. Except for NiftyIT, all other sectoral indices closed in the red. India VIX remained above 24.50, USDINR trading at 74.80.

Going forward, major support will be seen around 11080 and Resistance will be 11230-11240.

Source : Equity Bulls

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