Wall Street had another positive session as US indices closed at yet another closing high in recently times. US Banks rally as result beat estimate, Microsoft hits record high after AI-Optimism.
LTIM corrected yesterday reacting to its result, LTTS may correct today as it announced result after-market hours yesterday. INFY is set to announce it result on 20-Jul-23, rallied by 3.73% on deal win.
JIO Financial will get listed in a separate entity from 20-Jul-23 and will be included in Nifty 50 and other indices. All outstanding F&O contract in RELIANCE will be closed today and physical settled.
F&O data: FII added net long 5590 contracts in index futures, net long position now stands at 71.18% and 96701 contracts. Nifty PCR @ 1.34 Vs 1.54 previous. Banknifty PCR @ 0.99 Vs 1.46 previous.
Approach on Indices: We expect further profit booking on indices, we are not comfortable with the pace of rally to add fresh long at current level. Nifty @ 19622 & Banknifty @ 45110 are near term support level in our watch list.
GIFT NIFTY @ 19800 Vs 19771 Nifty future close at 8:30 AM