Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty gained for the third consecutive session on June 27, though gave up some gains during the day. At close, Nifty was up 0.85% or 132.8 points at 15832.1. Among sectors, IT, Metals and Capital Goods indices rose the most. Advance decline ratio ended sharply in the positive even as the Smallcap index outperformed the Nifty.
Falling inflation expectations and easing of COVID-19 restrictions in China that lifted global commodities helped assuage sentiments in global markets.
Volumes on the NSE continue to be on the lower side suggesting lack of conviction on the part of traders to take a big bet. Nifty in the current uptrend has entered the 15886-16172 downgap area but has so far hesitated to build on gains. 15927-15638 could be the range for the Nifty in the near term.