The markets on July 22, 2019 opened gap down. BSE Sensex is trading at 37,943.91, down by 393.10 points and the Nifty is trading at 11,314.65, down by 104.60 points. 

The company has set a target of reducing gross debt by US$1 billion in FY20. The company had a debt of Rs. 1 trillion as of March 2019.

Market may be giving goosebumps for investors but traders are still active in the market. We analysed the most traded stocks post Union Budget 2019 and their performance in the month of July.

As we were expecting for the past few weeks the gap of May 20 is filled. An important factor is that the Nifty closed below its all-important support levels. Now, the market has reached pre-exit poll levels.

Overall volumes in futures & options currently stand at 1,62,82,041 contracts with a turnover of Rs.11,25,854.80 crore.

Overall volumes in futures & options currently stand at 1,62,82,041 contracts with a turnover of Rs.11,25,854.80 crore.

We believe the next major support area for the Nifty is in the zone of 11,300-11,320. On the upside, any pullback rally towards 11,550-11,570 is likely to be resisted and this area is the likely hurdle going forward. Stocks in news: BHEL, CIPLA, Dr Reddy’s Laboratories, CG Power and Industrial Solutions, Strides Pharma Science, IOL Chemicals and Pharmaceuticals, Reliance Industries, McNally Bharat Engineering.

The outlook for the day is a flat start with a slight negative bias. At the time of writing, the SGX Nifty was trading lower by 31 points at 11,398.

CG Holdings Belgium NV Systems Division, a wholly-owned subsidiary of CG Power and Industrial Solutions Ltd., bagged a contract for 400 MW wind farm in Saudi Arabia.

The stocks to look out on July 22 include Dabur India, NHPC, Deepak Fertiliser and Petrochemicals, L&T Technology Services and RBL Bank.