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Tuesday, 20 October 2015

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Bank Nifty and Nifty Trends For Today

Nifty levels:  
Nifty spot close @8275
Nifty future close @8274

Today’s view on Nifty

Selling opportunity only below 8000 level, before that every dip will be a buying opportunity, nifty moving toward 8350-8400.

Bank Nifty levels: 
Bank nifty spot close @17855
Bank nifty future close @17870

View on Banknifty 

Fantastic recovery from lower level, we may see 18250-18500 level in coming days, no sell only buy on dips.

MARKET COMMENTERY

Post result rally for index heavyweight Reliance Industries (RIL) and gains for another index heavyweight Infosys and pharma stocks helped key benchmark indices register modest gains. The barometer index, the S&P BSE Sensex, rose 141.54 points or 0.52% to 27,356.14, as per the provisional closing data. The 50-unit CNX Nifty rose 36.90 points or 0.45% at 8,275.05, as per the provisional closing data. The trigger for the latest upmove for Indian stocks was an announcement from the finance ministry that it is seeking the views of foreign portfolio investors (FPIs) on measures to simplify the procedures and documentation for registration of FPIs in India.

STOCK BUZZ
1. RIL surged after stronger-than-expected Q2 September 2015 results. The stock rose 5.42% at Rs 961.60. The stock hit a high of Rs 965.20 and a low of Rs 941.60 in intraday trade. RIL's consolidated net profit rose 12.52% to Rs 6720 crore on 33.8% decline in turnover to Rs 75117 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours on Friday, 16 October 2015. A strong showing of the refinery business and increase in profit margins of the petrochemicals business led to a stronger-than-expected growth in RIL's bottom line in Q2 September 2015. RIL's gross refining margins (GRM) hit a seven year high of $10.6 per barrel in Q2 September 2015. The GRM was $8.3 per barrel in Q2 September 2014. The profitability of the petrochemicals business improved due to a combination of strong volume growth, product mix improvement and lower energy costs.
2. Aviation stocks surged after InterGlobe Aviation, the operator of low cost passenger airline IndiGo, announced that its initial public offer (IPO) will open for bidding on 27 October 2015. SpiceJet was locked at 10% upper circuit at Rs 47.55 on BSE. Jet Airways (India) surged 9.35%. The IPO of InterGlobe Aviation comprises of fresh issue of equity shares aggregating Rs 1272.20 crore and offer for sale of up to 2.61 crore shares by existing shareholders of the company. The price band for the IPO has been set at Rs 700 to Rs 765 per share. The IPO is scheduled to close on 29 October 2015. IndiGo operates as a low-cost carrier or LCC business model and focuses primarily on the domestic Indian air travel market.

HOT PURSUIT
1. UltraTech Cement fell in volatile after the company announced second quarter results. The stock shed 1.69% to Rs 2,905. The stock hit high of Rs 2,995 and low of Rs 2,886.05 in intraday trade. The company's consolidated net profit rose 3.14% to Rs 427 crore on 4.02% rise in net sales to Rs 5951 crore in Q2 September 2015 over Q2 September 2014. The result was announced during market hours today, 19 October 2015. UltraTech Cement's profit before interest, depreciation and tax rose 11.75% to Rs 1103 crore in Q2 September 2015 over Q2 September 2014.
2. The market breadth indicating the overall health of the market was positive. On BSE, 1,569 shares rose and 1,154 shares fell. A total of 161 shares were unchanged. The BSE Mid-Cap index provisionally rose 0.69%. The BSE Small-Cap index provisionally rose 0.77%. Both these indices outperformed the Sensex.

OPTION STRATEGY

1. In today’s session we have seen call buying in 8000 and 8100 strike price, we may see 8200 as a strong support level in coming days. 

2. DRREDYS 4200 and 4300 calls were so active we may see buying as remain above 4200.

3. IDEA 160 puts were so active today, we may see more selling below 160.

STOCKS TO WATCH

TATAMOTORS:
BUY TATAMOTORS AS REMAIN ABOVE 370 WE MAY SEE 400/410 LEVEL IN COMING DAYS.
ONGC:
Buy ONGC above 250 level we may see 270/280, below 250 major support will be 242.
AMBUJA CEM: 
Sell AMBUJA as remain below 215 we may see 205/195 level in coming days.
 Top PICKS OF THE DAY

1. HINDALCO ABOVE….? TGT…..?STOP LOSS……?
2. SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
3. SELL ONGC BELOW….? STOCK MAY SHOW 190/210 LEVEL IN COMING DAYS WITH STOP LOSS…?

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2 comments:

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