Nifty, Bank Nifty Tips and Prediction

Nifty levels:  

Nifty spot close @8381

Nifty future close @8380

Fantastic recovery from lower level, buying opportunity in leading sectors of stock market, banking, automobile, infrastructure realty etc.  

Bank Nifty levels:

  

Bank nifty spot close @18389

Bank nifty future close @18400

Good recovery from lower level buys above 17900 for the target of 18500-18600.

lMARKET COMMENTERY

Gains in index heavyweights HDFC, ITC and L&T and state-run banks helped key benchmark indices register modest gains. Benchmark indices hovered in positive zone for most part of the trading session. The overall movement for the benchmark indices was within a relatively narrow range during the trading session. The market breadth indicating the overall health of the market was positive. The barometer index, the S&P BSE Sensex, was provisionally up 76.29 points or 0.28% at 27,806.50. In overseas stock markets, Asian and European stocks edged higher, buoyed by expectations that a long-awaited deal between debt-burdened Greece and its creditors was firmly taking shape.

STOCK BUZZ

1. Grasim Industries was up 0.75% at Rs 3,428.25. The stock hit a high of Rs 3,446.35 and a low of Rs 3,394.25 in intraday trade. Grasim Industries before market hours today, 23 June 2015, announced that with the onset of the monsoon, the availability of water has improved and accordingly the production at the company's staple fibre plant at Nagda will start in phased manner. Earlier, Grasim Industries had on 24 April 2015 announced phased shut down of the staple fibre plant at Nagda due to water shortage caused by deficient rains.

2. Mahindra & Mahindra (M&M) edged higher after the company announced the launch of a new small commercial vehicle, Jeeto from its Zaheerabad plant in Telangana. The stock was up 1.89% at Rs 1,333.35. The stock hit a high of Rs 1,336.55 and a low of Rs 1,306.85 in intraday trade. The announcement was made during market hours today, 23 June 2015. Jeeto is the first ever product in its category with a modular range of 8 mini-trucks to cater to the varied needs of the sub 1 tonne load segment customers, M&M said. Priced competitively, Jeeto starts at Rs 2.32 lakh (ex-showroom Telangana for BSIII) and will be available in S, L & X series, catering to mini-truck, micro-truck and 3 wheelers customers, M&M said in a statement.

HOT PURSUIT

1. Meanwhile, Japan headquartered telecommunications and Internet major SoftBank Corp. (SoftBank), leading Indian business conglomerate Bharti Enterprises (Bharti) and Taiwan-based top design and manufacturing services provider Foxconn Technology Group (Foxconn) have announced the setting up of a joint venture under the name SBG Cleantech to promote the adoption of clean and safe energy in India, according to a joint press statement issued by SoftBank, Bharti and Foxconn yesterday, 22 June 2015. Subject to certain conditions, all three companies will jointly invest in the venture, according to the joint press release. SBG Cleantech will be a harbinger of solar and wind energy. Given its vast population, high irradiation, growing energy demand and power deficit, limited access to fossil fuels and a large number of unlit villages, India has great potential to be a major solar market, according to the joint statement.

2. For the country as a whole, the cumulative rainfall during this year's monsoon season was 11% above the Long Period Average (LPA) until 19 June 2015. Region wise, the southwest monsoon was 19% above the LPA in Central India, 16% above the LPA in East & Northeast India and 7% below the LPA in Northwest India until 17 June 2015. The rainfall was 100% of the Long Period Average in South Peninsula.

OPTION STRATEGY

3. In today’s session we have seen call writing in nifty 8400 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. 

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

STOCKS TO WATCH

CIPLA:  

Buy CIPLA above 620245 stock may show 660-670 in coming days.

AMBUJA:

Buy AMBUJA CEMENT above 231, stock may show 240/250 level in coming days. Below 231 major supports will be 223.

SBIN: 

Buy SBIN as remain above 263 stock may show 280/290 level in coming days, below 263 major support 254.

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…?

Bank Nifty Predictions For Today

Nifty levels:

Nifty spot close @8224

Nifty future close @8247

Buying opportunity above 8150 index may show 8300-8350 level, consolidation is expected from lower level.

Bank Nifty levels:

Bank nifty spot close @17880

Bank nifty future close @17915

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

MARKET COMMENTERY

Refinery Oil, banks and FMCG stocks led gains for key benchmark indices today, 19 June 2015. Positive sentiment in European and Asian markets and rally in US stocks overnight boosted sentiment. Key benchmark indices hovered in positive zone throughout the trading session today, 19 June 2015. The barometer index, the S&P BSE Sensex settled at its highest level in 2-1/2-weeks. The 50-unit CNX Nifty settled at its highest level in more than two weeks. The Sensex rose 200.34 points or 0.74% to settle at 27,316.17. The market breadth indicating the overall health of the market was positive. In overseas markets, Asian and European stocks edged higher after a rally in US stocks overnight which materialized a day after the Federal Reserve signaled it would move more slowly on raising interest rates.

STOCK BUZZ

1. Bank stocks edged higher on renewed buying. Among public sector banks, UCO Bank (up 3.11%), Corporation Bank (up 0.49%), Central Bank of India (up 2.71%), State Bank of India (up 0.81%), IDBI Bank (up 0.4%), Punjab National Bank (up 1.29%), Bank of Baroda (up 2.04%) and Union Bank of India (up 0.14%) edged higher. Syndicate Bank (down 0.05%) and United Bank of India (down 0.21%) edged lower.

2. Hindalco Industries edged higher after the Life Insurance Corporation of India (LIC) hiked its stake in the company to 13.337% from 11.328% in the last two months. The stock rose 0.37% at Rs 120.55. LIC in a disclosure to the NSE after market hours yesterday, 18 June 2015, said that it had hiked its stake in Hindalco Industries to 13.337% from 11.328% during the period from 16 April 2015 to 17 June 2015 through open market purchases.

HOT PURSUIT

1. Meanwhile, Finance Minister Arun Jaitley reportedly said in an interview to a newspaper in the United States yesterday, 18 June 2015, that important changes are being made in government policies every week. Jaitley said that overhauls are moving ahead at a rapid pace and there's a lot of agenda still to cover. Jaitley said the government is looking for compromises that would speed up passage of a new law aimed at easing the acquisition of land for development projects. Jaitley said the tax notices to foreign institutional investors (FIIs) demanding payment of the minimum alternate tax (MAT) were a legacy of 2012 litigation and would be reviewed by the Supreme Court. Once the Supreme Court judgment comes, the MAT issue will get sorted out, he said. Jaitley is currently on a 9-day official visit to the United States.

2. For the country as a whole, the cumulative rainfall during this year's monsoon season was 11% above the Long Period Average (LPA) until 17 June 2015. Region wise, the southwest monsoon was 19% above the LPA in Central India, 16% above the LPA in East & Northeast India and 7% below the LPA in Northwest India until 17 June 2015. The rainfall was 100% of the Long Period Average in South Peninsula.

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…?

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…?