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August 4, 2021

The BSE zoomed to 546 points in the intra-day deals and hit a record high level of 54369 on the BSE The broader Nifty50, meanwhile, hit new peak of 16,258 on the NSE. It ended with 128 points,

On the UP side: Kotak Bank, ICICI Bank, SBI, HDFC Bank, and Axis Bank

On the downside- Grasim, Titan, Tata Motor, Adani Port, Hindalco, Bpcl.

Tech View:- After giving an ascending triangle breakout on the daily chart and closed a day at 16259 with gains of nearly one percent. the index has formed immediate resistance near 16300 zone for further upside index needs to cross 16300 zone decisively or else we may see some profit booking towards immediate support zone of 16180-16090 zone.

European & USA markets:
@ IST 5.00 European markets were trading with a Positive note. Germany’s DAX trading in Green 0.69 %, France’s CAC40 index UP by 0.37 % and England’s FTSE100 index UP by 0.41 %.
Where; wall street @ IST 5.00 The DOW future contract trading in Red 46 points, or 0.13%, S&P 500 Future traded Low @ 4.25 points, or 0.10%, and where Nasdaq100 future trading Negative 0.50 points, or 0.01%.

Global News Analysis:

U.S-Centers for Disease Control and Prevention (CDC) on Tuesday issued a new 60-day moratorium on residential evictions in areas with high levels of COVID-19 infections citing the raging Delta variant after having rejected an earlier push by the White House.
China may need more monetary and fiscal easing to halt an economic slowdown in the wake of torrential rains and flooding, and authorities’ tough response to outbreaks of the highly-transmissible coronavirus Delta variant.
Germany plans to introduce a waiver on bankruptcy filing for businesses affected by last month’s devastating floods, the Justice Ministry said on Wednesday.