On 23rd June 2020, the market opened on a positive note and traded with positive sentiments throughout the day, ahead of increased inflows from global investors. Nifty IT has recovered from the lower level, as in morning trade it declined as much as 1% on worries over Trump's plan to block the entry of foreign workers on H-1B visas. Yesterday's market rally was lead by the Financials stocks, L&T, and Infosys (NS:INFY). Nifty 50 closed at 10471 with an overall gain of 1.55 percent and BSE Sensex closed at 35430.40 with the marginal gain of 1.48 percent.
For the trading session of 24th June 2020, for Nifty, 10300 and 10100 will act as key support level while 10545 and 10640 will act as a key resistance level and for BSE Sensex 34900 and 34400 will act as key support level while 36000 and 39700 will act as a key resistance level.
Buy: Infosys Limited (Above Rs. 725)
Target (NYSE:TGT): Rs 745
Stop loss: Rs 709
As on 23rd June 2020 share price of Infosys Limited (INFY) opened on a negative note and traded with positive sentiments throughout the day. The price jumped over 2 percent intraday and closed near its key resistance level. It is trading above its 20, 50, and 200-Days Exponential Moving Averages. We recommend traders to initiate long position above 725.
Buy: Hindustan Unilever (NS:HLL) Limited (Above Rs. 2172)
Target: Rs 2220
Stop loss: Rs 2134
As of 23rd June 2020, the share price of Hindustan Unilever (LON:ULVR) Limited (HINDUNILVR) closed positive for the third consecutive session. Price has closed above its important resistance level at 2157.55 with the overall gain of 2.70 percent. Price is trading above the important moving averages. The RSI of the stock is at 60. We recommend traders to initiate long position above 2172.
Disclaimer: The analyst does not hold a position in any of the stocks mentioned above.