Scan to Download ios&Android APP

Nifty 50 today: volatile session ahead with negative bias, say analysts

03:00, 1 July 2022

Share this article

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
Someone giving negative service feedback
On Thursday, Nifty ended down 0.12% at 15,780.25 – Photo: Shutterstock

The NSE Nifty 50 index (India 50) will likely continue its volatility on Friday with a negative bias, ahead of June auto numbers and interest rate concerns, analysts told

Auto manufacturers would disclose sales numbers on Friday with the two-wheeler segment to come under pressure while passenger and commercial segments could offset weakness, as per industry expectations.

Asian Paints share price and Reliance Industries share price to come under focus on Friday following respective corporate developments.

Nifty 50 (India 50) price chart

“The familiar fears of more interest rate increases and the risk of recession continue to haunt investors. Nifty’s biggest support is placed at 15,367 and below the same, expect a waterfall of selling. Nifty’s major hurdle is seen at 15,927,” Prashanth Tapse, Vice President (Research) at Mehta Equities said.

Nagaraj Shetti, technical research analyst at HDFC Securities also sounded a word of caution on Nifty outlook.

After the formation of false upside breakout at 15,800 levels on 27 June, the absence of any sharp weakness from near the hurdle in the last three sessions could be in favour of bulls to make a comeback from the lows.

What is your sentiment on Oil - Crude?

Vote to see Traders sentiment!

India 50 key support level is 15,700

"But, any decisive move below 15,600 levels is likely to negate the bullish bet and could result in sharp weakness down to 15,200 levels”, he said.

“For Nifty, 15,700 could be the key support level and 15,900 would act as an important resistance zone. On further decline, the index could fall to 15,600-15,550 levels. Any fresh uptrend is possible only after the index sees 15,900 breakout and above the same it could move up to 16,000-16,050,” Shrikant Chouhan, head of equity research (Retail) at Kotak Securities.

US Crude Oil Spot Price

Nift 50 Hot stocks

Asian Paints

Asian Paints shareholders approved the reappointment and modified pay structure of its chief executive officer and managing director Amit Syngle. The shareholders had approved his reappointment at the company’s annual general meeting, according to a stock exchange update.

Earlier, according to a local media report, two proxy advisory firms – Institutional Investor Advisory Services and InGovern Research Services – who provide advice to shareholders, had advised investors to vote against the reappointment of Syngle, citing lack of disclosures on salary.

Reliance Industries

Reliance Industries group company - Reliance Brands - on Thursday announced a strategic partnership with the UK-based fresh food and organic coffee chain, Pret A Manger. Under the long-term master franchise agreement, the Indian company will launch and build the global sandwich franchise’s brand in the country. RBL is a subsidiary of Reliance Retail Ventures, which in turn, is a subsidiary of billionaire Mukesh Ambani-controlled RIL.

Nifty on Thursday

On Thursday, Nifty ended down 0.12% at 15,780.25, mostly in line with the global markets on fears of hefty rate hikes to rein in soaring inflation.

“Markets remained volatile on the monthly futures and options expiry day and finally closed on a flat note. After the initial uptick, it traded under pressure for most of the session, however, intermediate recovery in the select index heavyweights capped the downside.

The recent pause in the index has derailed the momentum on the broader front as well. And, indications are still mixed so we suggest keeping a check on leveraged positions and waiting for clarity. Apart from the global factors, upcoming auto sales data will also be in focus for cues,” Ajit Mishra, vice president (Research) at Religare Broking said.

Read More

What You Need to Know

The week ahead update on major market events in your inbox every week. Subscribe
The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 427.000+ traders worldwide that chose to trade with

1. Create & verify your account

2. Make your first deposit

3. You’re all set. Start trading