Extending their gains into the second consecutive session, headline indices – Sensex and Nifty – ended higher on July 2, supported by IT and auto stocks. Positive global cues on reports of encouraging trials of a vaccine for COVID-19 influenced sentiment. Nifty surged 122 points, or 1.17 percent, to end at 10,551.70 and the Sensex ended 429 points, or 1.21 percent, higher at 35,843.70.
According to pivot charts, the key support level for the Nifty is placed at 10,492.07, followed by 10,432.43. If the index moves up, the key resistance levels to watch out for are 10,604.77 and 10,657.83. Nifty Bank – The Nifty Bank index ended 0.11 percent lower at 21,953.20 on July 2. The important pivot level, which will act as crucial support for the index, is placed at 21,780.87, followed by 21,608.53. On the upside, key resistance levels are placed at 22,235.17 and 22,517.13.
Call option data – Maximum call OI of 22.24 lakh contracts was seen at 11,000 strike, which will act as crucial resistance in the July series. Put option data – Maximum put OI of 12.80 lakh contracts was seen at 10,200 strike, which will act as crucial support in the July series.
Markets Action in a nutshell
Stocks to watch for the day
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