Hello reader, hope you’re doing well. Markets may begin with moderate increases in early Tuesday sessions, aided by overnight advances in US markets and a strong trend in other Asian indices. The two main positive catalysts fueling optimism are Chinese stimulus signals and a larger possibility of a US economic soft landing.
Auto stocks will be on the radar as July sales figures are reported today, while investors will also be looking for Manufacturing PMI data for July, which will be issued later in the day. Technically, the confirmation of strength would be evident only if the Nifty closes above the 19887 level. Bank Nifty’s biggest interweek barrier, on the other hand, is spotted at 46370.
Important points to note:
- NTPC up 3% today, on course for its target of 240 levels.
- Good performance by Maruti post results today, bouncing back from day’s lows indicating good strength in the stock.
- Coal India is has a very good setup for further upside, upto 250-260 levels from CMP.
As always, risk management is key, and a proper system in place prevents one from losing out too much, in case of outlier events. Have a good trading day, and may the force be with you!
Disclaimer: this post is for educational purposes only, we are not SEBI registered analysts. Trades mentioned here are not trade recommendations. Equity Investments are subject to 100% market risk, please consult your financial advisor before investing.