Wall Street had another positive as financials rally ahead of their earnings – Bank of America & Morgan Stanley are due to announce result on Tuesday & Goldman Sachs on Wednesday.
Reliance – JIO financial services demerger on 20-Jul-23. JIO financial to be included in Nifty 50, BSE Sensex and other indices. Pre-open price discovery session will be held between 9:00 to 10:00 AM.
HDFCBANK records 30% growth in PAT year on year, HDFC ADR was up 4.43%; Most brokerage house maintains over-weight on HDFCBNAK with target of 2010 – 2200.
F&O data: FII net long: short position at 70.25%:29.75%. Nifty PCR @ 1.54 Vs 1.34 previous. Banknifty PCR @ 1.46 Vs 0.86 previous.
Approach on Indices: PCR do indicate overbought zone, but expect another round of short covering. Indices are trading in unchartered territory. Nifty around 19800 & Banknifty around 46000 likely to be tested today.
GIFT NIFTY @ 19769.50 Vs 19730 Nifty future previous close.