Nifty is likely to consolidate in the range of Rs. 5,500-5,750.The market trend in July month is expected to be influenced by the progress of monsoon showers in India.
Nifty after testing Rs. 5,700 came down on profit booking and closed near the low of the day. Sustainability of the market above Rs. 5,662 is doubtful as the journey towards Rs. 5,700 from Rs. 5,400 was a continuous one. We may see a consolidation in the market at around 5,515 and 5,468 levels while the major resistance is at Rs. 5,750.
Mahindra & Mahindra
Sell Mahindra & Mahindra July futures below of Rs 679 for the target price of Rs 665 with a stop loss placed at Rs 687.
Power Grid
Power Grid
Buy Power Grid July futures above of Rs 111.5 for the target price of Rs 114.2 with a stop loss placed at Rs 110.2.
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