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Nifty View:
Profit booking at the highs was expected and we have discussed last day. The afternoon session has witnessed the profit booking and caused nifty to close red.
For the last 5 months, FIIs have been booking profits at the highs. We can watch what FIIs will do this month. With the support of FII incoming nifty can catch up to 16000 easily.
The delta variant fear is all along the world caused all major world indices to close in red.
The auto sector was undergoing a bearish movement since the shortage of semiconductor news. Now came out with a good number of auto sales data for July. So Nifty Auto is the sector to be watched out for.
15,600 will act as major support, most probably the 15,600 15,900 will continue for the coming few days.
15,730 and 15,830 are immediate support and resistance to being watched out for.
HDFC will be coming out with its quarterly results tomorrow.
Stocks in News:
REALITY STOCKS & HOUSING FINANCE STOCKS: Launch of housing Unit falls 54 % in April-June Quarter Says the report
ECONOMY: Govt Revenue Collection Show Improvement As GST for July stands at Rs 1.16 lakh
Lockdown: Japan has decided to impose a state of emergency in Tokyo, Saitama, Chiba, Kanagawa, Osaka, and Okinawa prefectures till August 31 in view of the rising Covid-19 cases in the nation. The decision came while the country is hosting the 2020 Olympics Games after a delay of one year due to the pandemic.
Jyothy Labs: Jyothy Labs plans to hike prices across its product portfolio in the coming quarters to boost the operating margin to pre-Covid levels amid rising raw material prices.
Britannia Ind: Britannia Industries’ Q1 profit rose but missed estimates as its margin came under pressure because of higher raw material prices say, analysts.
Tata Motors: Tata Motors to invest Rs 28,900 crore across JLR and Tata Motors in FY22.
Major Corporate Results on 02.08.21
- HDFC
- PNB
- RBL BANK
- Balaji Amines
- Varun Beverages
