Global Markets

US markets closed in the green (Dow Jones +285).

Dow futures are currently trading flat to down.

Asian markets are now trading positively.

Nifty: +26 points for gifts

Data Analysis

Cash Market                                       F&O

FII : +6397cr                                                   Nifty PCR: 1.58 vs 1.41

DII : +1198cr                                                   Highest OI (06-July-23):

Net : +7595cr                                                  19500CE & 18900PE

Technical Outlook

Nifty (Spot)

• Where there is little meaningful opposition, the Nifty is moving up with strong positive momentum.
• After three days of rallying, there may be some consolidation; the demand zone is between 1914 and 19070.
• 19321 is the next target level on the upside.

Bank Nifty (Spot)

• While still performing nicely, Banknifty is lagging behind.
• There is instant resistance between 44800 and 45000.
• The demand will be greatest between 44500 and 44444.