Nifty50: European shares fall as fears of new virus wave grip investors

Nifty50 Sensex June 22nd Mid-Market Update: European shares fall as fears of new virus wave grip investors, Nifty trading in narrow range between 10290-10340. Nifty50 weightage rebalancing on 25th June, Aston Martin taps ex-JLR CFO Kenneth Gregor as Head-Finance, New hot spots are emerging in rural villages across India on Covid-19 Nifty50 weightage rebalancing on 25th June, Weight going up leading to buy flows: HUL, Kotak and Airtel Weight going down leading to sell flows: RIL, HDFC, HDFC Bank and Infosys Adjustments made on June 25. Elon Musk says ‘Battery Day’ and Shareholders meet on 15th September

Nifty50 Open-10318.75, High- 10393.65, Low- 10277.6 7 Last- 10380 (14:25). The Indian markets are rallying one sided since past 1 week with FinService dominating the rally with Reliance. With the Nifty rebalancing scheduled stocks that are likely to get a better pie are getting bulk buying seen by Institutions and Retail, Nifty50 had 41 in green and 9 in red. Bajaj family is present in top5 gainers of Nifty while Wipro, Hindalco, ONGC, Maruti and Infy were top losers. Glenmark, IndianBank, RBLBank, IDFC and FedBank are in Midcap top5 gainers while LICHsg, VBL, LTTS, OIL and RamcoCem are top losers.

As mentioned in morning report Nifty as of now had taken the support before 10398 and Over next hours trade we expect Nifty to trade between 10216 – 10437. Immediate Supports are 10348, 10321, 10299 and 10274 while resistances are at 10398, 10421, 10441 and 10470. Stay light on positions and follow strict SL. For more share market tips, ideas, updates and stock recommendations follow our App, Twitter, FB, Telegram and Website.