As discussed yesterday, market behaviour remained on expected lines. Nifty opened near our breakout level of 26260 (opened at 26261.25) and continued its uptrend, rallying up to 26310.45 (near our level of 26313).

1. FIIs net long at 12.37%
2. VIX at 11.97 (-1.07%)
3. PCR at 1.28
4. FIIs bought Rs.1580 cr in cash, Rs.237.20 cr in index futures and Rs.1182 cr in stock futures.
Nifty has immediate resistance at 26207.

IGL:
Haryana to introduce a new city gas distribution policy aimed at boosting infrastructure investments.

HSBC on Hindalco
Maintain Buy; target price raised to Rs 1040/Sh (Positive)

Jefferies on LG Electronics – TP Rs. 1980 – Buy
Strong play on India discretionary; premium brand recall and strong distribution moats.

STUDDS Accessories Q2 Results
Net Profit Rs. 20.62 cr. up 18% YoY and 2% QoQ.
Revenue Rs. 154 cr. up 6% YoY and 3% QoQ.
EBITDA Rs. 29.84 cr. up 12% YoY but down 1% QoQ.
EBITDA margin at 19.32%, higher YoY but lower QoQ.

As discussed yesterday, market behaviour remained on expected lines. Nifty opened near our support of 25837 (opened at 25842.95), defended the level successfully, and then rallied sharply up to 26215.15.

1. FIIs net long position at 17.18%
2. PCR at 1.55
3. VIX at 11.96 (-2.29%)
4. FIIs bought 4778 cr in cash, 790.40 cr in index futures & 1778.70 cr in stock futures.
DIIs bought 6247.90 cr in cash.

NIFTY OUTLOOK CMP 25884.8
As discussed yesterday, market behaviour remained on expected lines. Intensified selling pressure dragged Nifty to our support level of 25863, making a day low of 25857.50.

Nifty Outlook: 25959.50 FII –4171.75 cr DII 4512.87 cr
As discussed yesterday, the market behaved exactly on expected lines. Nifty opened near our breakout level of 26115 (actual open at 26122.8), moved slightly higher but failed to sustain due to selling pressure and slipped towards our support of 25927, making a day low of 25912.15.