Accurate Nifty and Bank Nifty Predictions for Today

Nifty levels:  

Nifty spot close @8174

Nifty future close @8156

Buying opportunity above 8100 index may show 8200-8250 level, consolidation is expected from lower level. 

Bank Nifty levels:  

Bank nifty spot close @17732

Bank nifty future close @17688

More buying is expected today, selling opportunity below 17600. We may see 17400-17300 level below 17600.

MARKET COMMENTERY

Refinery and pharma stocks led rally for key benchmark indices. The barometer index, the S&P BSE Sensex, reclaimed the psychological 27,000 level. The Sensex and the 50-unit CNX Nifty rose more than 1% each as per provisional figures. The market breadth indicating the overall health of the market was positive. The Sensex was provisionally up 286.62 points or 1.07% at 27,119.28. The BSE Small-Cap index was up 1.07%, matching the Sensex's gains in percentage terms. 

STOCK BUZZ

1. Punjab National Bank (PNB) shed 0.72%. With respect to news titled "PNB seeks to sell Electrotherm, Bharati Shipyard loans to ARCs", the state-run bank clarified during market hours today, 18 June 2015, that acceptance of deposits, disbursement of loans, settlement of non-performing assets (NPA) accounts under compromise or by sale under SARFAESI or through asset reconstruction companies (ARCs) etc irrespective of the value, are part of normal banking activities. The subject matter does not fall under clause 36 of the listing agreement to be reported to the stock exchanges, PNB said.

2. Yes Bank rose 0.77%. The bank cut its base rate by 25 basis points from 10.75% per annum to 10.5% per annum effective from 22 June 2015. The bank made announcement during market hours today, 18 June 2015. The reduction is a consequence of the recent term deposit rate cuts of upto 25 basis points carried out by the bank across various tenors which were made effective from 17 June 2015.

HOT PURSUIT 

1. Indian stocks edged higher today, 18 June 2015, after the US Federal Reserve said after the conclusion of a two-day monetary policy meeting yesterday, 17 June 2015, that its monetary-policy tightening would be gradual, easing concerns of a possible sudden outflows from emerging markets. There have been concerns that higher US interest rates will reduce the attraction of riskier emerging-markets assets. Higher interest rates in the United States will boost returns on US debt and bank deposits, drawing money back from riskier markets.

2. Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 18 June 2015, that the Southwest Monsoon was active over Gangetic West Bengal and Telangana during past 24 hours ending at 0830 hrs. Conditions are favourable for further advance of southwest monsoon into some more parts of Chhattisgarh, Odisha and West Bengal and remaining parts of Coastal Andhra Pradesh and Bay of Bengal during next 3 days, the IMD said.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8200 call so we can consider this as a strong resistance.

2. RELIANCE 1000 & 1020 CALLS were so active, stock is really in bullish move more rally is expected up to 1020. 

3. ZEEL 340 calls were in action today, stock showed us gain from lower level, more buying above 340. 

STOCKS TO WATCH

TATAPOWER:  

Selling opportunity below 74 stocks may show 71/68 level in coming days. Above 74 major resistances will be 77.

DISHTV:

Buy DISHTV above 110, stock may show 120/125 level in coming days. Below 110 major supports will be 105.

PFC: 

Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.

TOP PICKS OF THE DAY

1. BUY ONGC ABOVE….? TGT…..?STOP LOSS……?

2. BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL CANBK BELOW….? STOCK MAY SHOW 295/290 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty And Bank Nifty Outlook For Today

Nifty levels:  

Nifty spot close @8091

Nifty future close @8078

Buying opportunity above 8000 index may show 8150-8250 level, consolidation is expected from lower level. 

Bank Nifty levels:  

Bank nifty spot close @17578

Bank nifty future close @17526

Short covering was expected today, selling opportunity below 17500. We may see 17400-17300 level below 17500.

MARKET COMMENTERY

Key benchmark indices registered modest gains after seeing high volatility during the latter part of the trading session. Benchmark indices trimmed gains soon after extending intraday gains in late trade. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, trimmed gains after hitting their highest level in almost a week. High volatility for key benchmark indices in late trade materialized as global crude oil prices rose. India imports about 80% of its crude oil requirements. The Sensex was provisionally up 116.22 points or 0.44% at 26,802.73. The market breadth indicating the overall health of the market was strong. The BSE Mid-Cap index was up 1.44%. The BSE Small-Cap index was up 1.33%. Both these indices outperformed the Sensex.

STOCK BUZZ

1. Kotak Mahindra Bank rose 0.3%. The finance ministry today, 17 June 2015, announced that the government has deferred decision on a proposal of Kotak Mahindra Bank for increasing the aggregate foreign investment in Kotak Mahindra Bank to 55% pursuant to a merger of ING Vyasa Bank with Kotak Mahindra Bank.

2. Tata Steel edged higher on reports trade unions decided to suspend industrial action at the steelmaker's UK plants. The stock was up 2.9%. According to reports, trade unions representing workers of Tata Steel in the UK have decided to suspend its 22 June 2015 strike action after the steel major approached the Advisory, Conciliation and Arbitration Service (ACAS) to resolve the pension dispute in an independent manner. Tata Steel is keen to resolve dispute without industrial action, reports added.

HOT PURSUIT 

1. Meanwhile, Central Board of Direct Taxes (CBDT) chairman Anita Kapur was quoted as saying at a press conference yesterday, 16 June 2015, that the income tax department would not attempt any coercive recovery of the minimum alternate tax (MAT) demands placed on foreign institutional investors (FIIs). The tax department had asked several FIIs to pay 18.5% MAT on their trading income in India, forcing some of them to take it to the court. Although the government says that the notices have been served in only 68 cases involving a total demand of just Rs 603 crore for the period prior to 1 April 2015, FIIs are worried that more such notices could be in the offing.

2. Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 16 June 2015, that the Southwest Monsoon was active over Gangetic West Bengal and Telangana during past 24 hours ending at 0830 hrs. Conditions are favourable for further advance of southwest monsoon into some more parts of Chhattisgarh, Odisha and West Bengal and remaining parts of Coastal Andhra Pradesh and Bay of Bengal during next 3 days, the IMD said.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8100 call so we can consider this as a strong resistance.

2. BHEL 240 & 250 PUTS were so active, stock took profit booking from upper level. 

3. ZEEL 340 calls were in action today, stock showed us gain from lower level, more buying above 340. 

STOCKS TO WATCH

TATAPOWER:  

Selling opportunity below 74 stocks may show 71/68 level in coming days. Above 74 major resistances will be 77.

DISHTV:

Buy DISHTV above 110, stock may show 120/125 level in coming days. Below 110 major supports will be 105.

PFC: 

Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.

TOP PICKS OF THE DAY

1. BUY ONGC ABOVE….? TGT…..?STOP LOSS……?

2. BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL CANBK BELOW….? STOCK MAY SHOW 295/290 LEVEL IN COMING DAYS WITH STOP LOSS…?

Free Nifty Market News and Predictions On Your Mobile

Nifty levels:  

Nifty spot close @8013

Nifty future close @8005

Buying opportunity above 7980 index may show 8100-8150 level, consolidation is expected from lower level. 

Bank Nifty levels:  

Bank nifty spot close @17410

Bank nifty future close @17396

Short covering was expected today, selling opportunity below 17600. We may see 16900-17100 level below 17600.

MARKET COMMENTERY

Expectations that above-average monsoon rain will improve the odds for further monetary policy easing from Reserve Bank of India (RBI) helped key benchmark indices register modest gains on the first trading session of the week today, 15 June 2015. But, benchmark indices pared gains during the latter part of the trading session after extending intraday gains in mid-afternoon trade as fears about possible Greek default pulled European stocks lower. 

 The barometer index, the S&P BSE Sensex, was provisionally up 144.24 points or 0.55% at 26,569.54. In percentage terms, the gains for the Sensex were higher than those for the Nifty. The Nifty was provisionally up 23.60 points or 0.3% at 8,006.50. The market breadth indicating the overall health of the market was positive.

STOCK BUZZ

1. Auto stocks were in demand. Tata Motors rose after reporting data on global wholesale volumes for May 2015. Shares of Vedanta fell while those of Cairn India edged higher after Vedanta and Cairn India yesterday, 14 June 2015, announced that Cairn India will be merged with Vedanta.

2. Axis Bank fell 3.24%. The Ministry of Urban Development after trading hours yesterday, 10 June 2015, announced that Axis Bank has decided to issue co-branded cards to the users of Kochi Metro for paying the fares. Axis Bank will issue co-branded cards to the users of Kochi Metro for paying the fares as well as using them for all kinds of merchandise including e-commerce, according to a statement from the Ministry of Urban Development. 

HOT PURSUIT

1. Meanwhile, the government's indirect tax revenue collections jumped 37.3% at Rs 49993 crore in May 2015 over May 2014, according to provisional figures released by the finance ministry after trading hours yesterday, 10 June 2015. Central excise collections jumped 84.2% at Rs 21809 crore in May 2015 over May 2014. Customs collections rose 16% to Rs 15700 crore in May 2015 over May 2014. Service Tax collections rose 13.2% at Rs 12484 crore in May 2015 over May 2014.

2. The India's industrial production rose at an accelerated pace of 4.1% in April 2015 over a year ago compared with the revised growth of 2.5% in March 2015. The growth in industrial production for March 2015 was scaled up to 2.5% in the first revision compared with 2.1% reported provisionally. Meanwhile, the growth in January 2015 has been revised slightly upwards to 2.83% in the second and final revision compared with 2.77% at the first revision and 2.55% released provisionally.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8100 call so we can consider this as a strong resistance.

2. BHEL 240 & 250 PUTS were so active, stock took profit booking from upper level. 

3. ZEEL 340 calls were in action today, stock showed us selling from upper level, more selling below 340. 

STOCKS TO WATCH

ICICIBANK:  

Selling opportunity below 294 stocks may show 284/278 level in coming days. Above 294 major resistances will be 300.

DISHTV:

Buy DISHTV above 98, stock may show 106/110 level in coming days. Below 98 major supports will be 94.

PFC: 

Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.

TOP PICKS OF THE DAY

1. BUY ONGC ABOVE….? TGT…..?STOP LOSS……?

2. BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL CANBK BELOW….? STOCK MAY SHOW 295/290 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty and Bank Nifty Market News For Todays

Nifty levels:  

Nifty spot close @8013
Nifty future close @8005

Buying opportunity above 7980 index may show 8100-8150 level, consolidation is expected from lower level. 

Bank Nifty levels:  
Bank nifty spot close @17410
Bank nifty future close @17396

Short covering was expected today, selling opportunity below 17600. We may see 16900-17100 level below 17600.

MARKET COMMENTERY

Expectations that above-average monsoon rain will improve the odds for further monetary policy easing from Reserve Bank of India (RBI) helped key benchmark indices register modest gains on the first trading session of the week today, 15 June 2015. But, benchmark indices pared gains during the latter part of the trading session after extending intraday gains in mid-afternoon trade as fears about possible Greek default pulled European stocks lower. 

The barometer index, the S&P BSE Sensex, was provisionally up 144.24 points or 0.55% at 26,569.54. In percentage terms, the gains for the Sensex were higher than those for the Nifty. The Nifty was provisionally up 23.60 points or 0.3% at 8,006.50. The market breadth indicating the overall health of the market was positive.

STOCK BUZZ

1. Auto stocks were in demand. Tata Motors rose after reporting data on global wholesale volumes for May 2015. Shares of Vedanta fell while those of Cairn India edged higher after Vedanta and Cairn India yesterday, 14 June 2015, announced that Cairn India will be merged with Vedanta.

2. Axis Bank fell 3.24%. The Ministry of Urban Development after trading hours yesterday, 10 June 2015, announced that Axis Bank has decided to issue co-branded cards to the users of Kochi Metro for paying the fares. Axis Bank will issue co-branded cards to the users of Kochi Metro for paying the fares as well as using them for all kinds of merchandise including e-commerce, according to a statement from the Ministry of Urban Development. 

HOT PURSUIT 

1. Meanwhile, the government's indirect tax revenue collections jumped 37.3% at Rs 49993 crore in May 2015 over May 2014, according to provisional figures released by the finance ministry after trading hours yesterday, 10 June 2015. Central excise collections jumped 84.2% at Rs 21809 crore in May 2015 over May 2014. Customs collections rose 16% to Rs 15700 crore in May 2015 over May 2014. Service Tax collections rose 13.2% at Rs 12484 crore in May 2015 over May 2014.

2. The India's industrial production rose at an accelerated pace of 4.1% in April 2015 over a year ago compared with the revised growth of 2.5% in March 2015. The growth in industrial production for March 2015 was scaled up to 2.5% in the first revision compared with 2.1% reported provisionally. Meanwhile, the growth in January 2015 has been revised slightly upwards to 2.83% in the second and final revision compared with 2.77% at the first revision and 2.55% released provisionally.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8100 call so we can consider this as a strong resistance.

2. BHEL 240 & 250 PUTS were so active, stock took profit booking from upper level. 

3. ZEEL 340 calls were in action today, stock showed us selling from upper level, more selling below 340. 

STOCKS TO WATCH

ICICIBANK:  

Selling opportunity below 294 stocks may show 284/278 level in coming days. Above 294 major resistances will be 300.

DISHTV:

Buy DISHTV above 98, stock may show 106/110 level in coming days. Below 98 major supports will be 94.

PFC: 

Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.

TOP PICKS OF THE DAY
BUY ONGC ABOVE….? TGT…..?STOP LOSS……?
BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?
SELL CANBK BELOW….? STOCK MAY SHOW 295/290 LEVEL IN COMING DAYS WITH STOP LOSS…?

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