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Wednesday, 29 July 2015

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BANK NIFTY AND NIFTY MARKRT TRENDS

Nifty levels:  
Nifty spot close @8337
Nifty future close @8356

Today’s view on Nifty

Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8350 below that level we may see fresh short position. We have seen intense volatility today, we may see now lower level buying and short covering is expected above.

Bank Nifty levels:  
Bank nifty spot close @18282
Bank nifty future close @18328

View on Bank nifty  

Remain below 18300 more weakness is expected, though we may see short covering from lower level but below 18300 no buying.


MARKET COMMENTERY

Index heavyweight and housing finance major HDFC led losses for key benchmark indices. Shares of the housing finance major edged lower after the company reported a muted growth in bottom line in Q1 June 2015. The barometer index, the S&P BSE Sensex, was provisionally off 102.76 points or 0.37% to 27,458.62. The market breadth indicating the overall health of the market turned negative from positive in late trade. The market sentiment was edgy after the latest data showed that foreign portfolio investors (FPIs) pressed sales of Indian stocks yesterday, 27 July 2015.

STOCK BUZZ
1. HDFC fell 2.64% to Rs 1,300. The company's net profit rose 1.21% to Rs 1360.98 crore on 9.39% rise in total income to Rs 7068.28 crore in Q1 June 2015 over Q1 June 2014. The result was announced during market hours today, 28 July 2015. On consolidated basis, HDFC's net profit rose 17.69% to Rs 2204.29 crore on 13.76% growth in total income to Rs 11440.62 crore in Q1 June 2015 over Q1 June 2014.
2. Most power generation stocks declined. JSW Energy (down 7.45%), Jaiprakash Power Ventures (down 3.92%), Reliance Power (down 1.86%), GMR Infrastructure (down 1.79%), Torrent Power (down 1.16%), Adani Power (down 0.37%), Tata Power (down 0.14%), edged lower. Reliance Infrastructure (up 0.14%), CESC (up 0.26%), NHPC (up 0.27%) and NTPC (up 2.13%) edged higher.

HOT PURSUIT
1. Meanwhile, Reserve Bank of India (RBI) Governor Raghuram Rajan reportedly said yesterday, 27 July 2015, that inflation targets should not be changed every three years as that would mean changing goal posts as soon as the system starts to internalize it. The RBI governor's comments follow the release of a new draft of the proposed Indian Financial Code which suggested that inflation targets should be reset every three years following consultations between the government and the RBI. The draft also suggested setting up a seven-member monetary policy committee (MPC) which would have four members appointed by the government. An earlier proposal to give the RBI governor veto power over decisions of the MPC has also been removed.

2. Meanwhile, India's weather office, the India Meteorological Department (IMD), said in its daily monsoon update issued yesterday, 27 July 2015, that the Southwest Monsoon was vigorous over Rajasthan and Gujarat state and was active over Gangetic West Bengal, Odisha and West Madhya Pradesh during the past 24 hours until 8:30 IST.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8600 call so we can consider this as a strong resistance.

2. MARUTI calls and puts were so active, we have seen heavy put writing in 4200 and 4100 puts so in near future we may see selling pressure in the stock once it remain below 4200. 

3. RELIANCE 1020/1040 calls were so active today, we have seen good rally in the stock, more rally is expected above 1000. 

STOCKS TO WATCH

TATAMOTORS:  
Sell TATAMOTORS as remain below 390 we may see 350/340 level in coming days, above 390 major resistances will be 405.

CEAT
Buy CEAT above 800 stock may show 840/850 level, remain below 800 more down side is expected.

CAIRN: 
Sell CAIRN below 175 we may see 162/155 levels remain below 175 levels.
TOP PICKS OF THE DAY

1. BUY M&M ABOVE….? TGT…..?STOP LOSS……?
2. SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
3. SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?

1 comment:

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