Benchmark share indices shrugged off weak global cues to end higher following the expiry of July F&O derivative contracts after the recent developments in the parliament rekindled hopes of the GST Bill getting passed in the ongoing monsoon session of Parliament. More positive rhetoric on GST helped stocks wade through the bearish sentiments prevailing at open after FOMC hinted at increasing appetite towards a rate hike this year. Besides, the India Meteorological Department (IMD) is sticking to its 2016 forecast of southwest monsoon being ‘above normal’ as of now, based on the rainfall so far, particularly in July, but a final conclusion can be drawn once it releases its second stage forecast by this month-end.
BUY RSSOFTWARE ABOVE 90 TARGET 90.90, 91.80, 92.70 STOP LOSS 88.20.
BUY GEECEE ABOVE 220 TARGET 222.20, 224.40, 226.60 STOP LOSS 215.60.