Nifty News Letter 10-July-2015

Nifty levels:  

Nifty spot close @8328

Nifty future close @8352

Today’s view on Nifty

 

Due to the global clues markets slide below its major support level, though weak global scenario but Indian markets are still strong every dip will be a buying opportunity.  

Bank Nifty levels:

Bank nifty spot close @18509

Bank nifty future close @18581

View on Banknifty  

Bank nifty closed around its support level around 18400 so remain above that buying opportunity.

MARKET COMMENTERY

Key benchmark indices edged lower in volatile session of trade. After moving in a narrow range for most part of the day, key benchmark indices dropped to intraday low in late trade led by decline in oil & gas and IT stocks. The barometer index, the S&P BSE Sensex, hit its lowest level in 1-1/2 weeks. The 50-unit Nifty hit its lowest level in one week. The Sensex was provisionally down 83.86 points or 0.3% at 27,603.86. The market breadth indicating the overall health of the market was positive.

STOCK BUZZ

1. HCL Technologies fell 1.53%. HCL Technologies during market hours today, 9 July 2015 said that the company is working with SAP as a key partner on the development of multichannel customer self-services for utilities. The SAP Multichannel Foundation for Utilities and Public Sector software allows utility companies to interact with their customers through different communication channels - including the Web (online self-services), mobile and social networks - via a set of standardized and reusable Open Data Protocol (OData) services that are used by end-user applications to access data and processes, HCL Technologies said.

2. Tech Mahindra rose 1.04%. Tech Mahindra announced after trading hours yesterday, 8 July 2015, that it has collaborated with PNMsoft, a global provider of Intelligent BPM Software (iBPMS) solutions, to benefit from synergies in key vertical markets.

HOT PURSUIT

1. Meanwhile, International Monetary Fund Managing Director Christine Lagarde yesterday, 8 July 2015 reportedly reiterated that Greece needs debt restructuring as part of a bailout deal, but warned that Athens won't receive special treatment as the government seeks to delay its loan repayments to the IMF.

2. Chinese stocks rose after the Chinese central government and the People's Bank of China (PBOC) yesterday, 8 July 2015 unveiled a bunch of new measures to stem market rout, including the PBOC providing loans to the state-backed margin financing entity -- China Securities Financing Corporation, the top securities regulator banning large shareholders from reducing their stakes on stock markets within six months, and the police department launching a joint investigation with the securities regulator against "malicious short-selling of stocks.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8500 call so we can consider this as a strong resistance.

2. CROMPTON 180 & 190 CALLS were so active, stock is really in bullish move more rally is expected up to 190.

3. VOLTAS 320 calls were in action today, stock showed us gain from lower level, more buying above 320.

STOCKS TO WATCH

ARVIND:

Buy ARVIND above 273 stocks may show 300/310 in coming days, Below 273 major support will be 262.

AMBUJA:

Sell AMBUJA as remain below 238 we may see some new lows. Buy only above 245.

M&M FINENCE:

Buy M&M FINENCE as remain above 270 stock may show 290/300 level in coming days, below 270 major support 261.

TOP PICKS OF THE DAY

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

2. BUY ICICI BANK ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty And Bank Nifty News Updates

Nifty levels:  

Nifty spot close @8522

Nifty future close @8537

Today’s view on Nifty

Good recovery from lower level keep buying on dips, as nifty closed above its resistance level, so good buying opportunity we may see 8600-8650 levels.    

Bank Nifty levels:

Bank nifty spot close @18825

Bank nifty future close @18868

View on Banknifty

Buy as remain above 18400, consolidation seen from upper level, so be cautious we may see profit booking. No sell keep buy on dips.

MARKET COMMENTERY

Banking, cement, pharma stocks and index heavyweights HDFC, ITC, Reliance Industries (RIL) and L&T led a strong intraday rebound on the domestic bourses. After staging a strong intraday rebound in afternoon trade, key benchmark indices surged in late trade as European stocks and US index futures trimmed intraday losses. However, by the time India's stock markets had closed at 15:30 IST, European stocks had weakened once gain. Asian and European stocks edged lower today, 6 July 2015, after Greek voters overwhelmingly rejected reform measures put forward by the country's international creditors in a referendum held yesterday, 5 July 2015, a result seen as increasing the chances of Greece exiting the shared currency. The strong intraday rebound for key benchmark indices in India materialised as global crude oil prices slumped. The decline in crude oil prices augur well for India.

STOCK BUZZ

1. Kotak Mahindra Bank rose 1.33%. As per reports, the Foreign Investment Promotion Board (FIPB) on Friday, 3 July 2015 cleared the bank's proposal to raise foreign investment limit to 55% from 49%. Kotak Mahindra Bank had approached FIPB after the Reserve Bank of India barred overseas investments in the bank as foreign shareholding hit the permissible threshold following the merger of ING Vysya Bank with Kotak Mahindra Bank.

2. Index heavyweight and engineering and construction major L&T advanced 0.68% to Rs 1,820. The stock hit high of Rs 1,822 and low of Rs 1,766.60.

HOT PURSUIT

1. Meanwhile, the monsoon has entered a weak phase if the data released by the India Meteorological Department (IMD) is any indication. For the country as a whole, cumulative rainfall during this year's monsoon season was near normal until 5 July 2015. This is a far cry when compared to a reading 24% above the Long Period Average (LPA) for the South West monsoon until 24 June 2015. Region wise, the southwest monsoon was 5% above the Long Period Average (LPA) in Northwest India, 2% above the LPA in Central India, 2% above the LPA in South Peninsula and 4% below the LPA in East & Northeast India until 5 July 2015.

2. The IMD said in its daily monsoon update issued yesterday, 5 July 2015, that the Southwest Monsoon was active over Arunachal Pradesh and Sub-Himalayan West Bengal & Sikkim and Normal over Assam & Meghalaya, Gangetic West Bengal, Jharkhand, Bihar and Coastal Karnataka during past 24 hours until 8:30 IST.

OPTION STRATEGY

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

2. KOTAK BANL 1500 & 1520 CALLS were so active, stock is really in bullish move more rally is expected up to 1460. 

3. AMBUJA 240 calls were in action today, stock showed us gain from lower level, more buying above 230. 

STOCKS TO WATCH

ZEEL: 

Buy ZEEL above 369 stocks may show 378-382 in coming days, Below 369 major support will be 359.

TATASTEEL: 

Sell TATASTEEL as remain below 300 we may see some new lows. Buy only above 300.

ACC: 

Buy ACC as remain above 1480 stock may show 1530/1550 level in coming days, below 1480 major support 1450.

TOP PICKS OF THE DAY

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

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

3. SELL AMBUJA BELOW….? STOCK MAY SHOW 210/200 LEVEL IN COMING DAYS WITH STOP LOSS…?

NIFTY MARKET STRATEGY FOR TODAY

Nifty levels:  

Nifty spot close @8522

Nifty future close @8537

Today’s view on Nifty

Good recovery from lower level keep buying on dips, as nifty closed above its resistance level, so good buying opportunity we may see 8600-8650 levels.    

Bank Nifty levels:  

Bank nifty spot close @18825

Bank nifty future close @18868

View on Banknifty

Buy as remain above 18400, consolidation seen from upper level, so be cautious we may see profit booking. No sell keep buy on dips.

MARKET COMMENTERY

Banking, cement, pharma stocks and index heavyweights HDFC, ITC, Reliance Industries (RIL) and L&T led a strong intraday rebound on the domestic bourses. After staging a strong intraday rebound in afternoon trade, key benchmark indices surged in late trade as European stocks and US index futures trimmed intraday losses. However, by the time India's stock markets had closed at 15:30 IST, European stocks had weakened once gain. Asian and European stocks edged lower today, 6 July 2015, after Greek voters overwhelmingly rejected reform measures put forward by the country's international creditors in a referendum held yesterday, 5 July 2015, a result seen as increasing the chances of Greece exiting the shared currency. The strong intraday rebound for key benchmark indices in India materialised as global crude oil prices slumped. The decline in crude oil prices augur well for India.

STOCK BUZZ

1. Kotak Mahindra Bank rose 1.33%. As per reports, the Foreign Investment Promotion Board (FIPB) on Friday, 3 July 2015 cleared the bank's proposal to raise foreign investment limit to 55% from 49%. Kotak Mahindra Bank had approached FIPB after the Reserve Bank of India barred overseas investments in the bank as foreign shareholding hit the permissible threshold following the merger of ING Vysya Bank with Kotak Mahindra Bank.

2. Index heavyweight and engineering and construction major L&T advanced 0.68% to Rs 1,820. The stock hit high of Rs 1,822 and low of Rs 1,766.60.

HOT PURSUIT

1. Meanwhile, the monsoon has entered a weak phase if the data released by the India Meteorological Department (IMD) is any indication. For the country as a whole, cumulative rainfall during this year's monsoon season was near normal until 5 July 2015. This is a far cry when compared to a reading 24% above the Long Period Average (LPA) for the South West monsoon until 24 June 2015. Region wise, the southwest monsoon was 5% above the Long Period Average (LPA) in Northwest India, 2% above the LPA in Central India, 2% above the LPA in South Peninsula and 4% below the LPA in East & Northeast India until 5 July 2015.

2. The IMD said in its daily monsoon update issued yesterday, 5 July 2015, that the Southwest Monsoon was active over Arunachal Pradesh and Sub-Himalayan West Bengal & Sikkim and Normal over Assam & Meghalaya, Gangetic West Bengal, Jharkhand, Bihar and Coastal Karnataka during past 24 hours until 8:30 IST.

OPTION STRATEGY

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

2. KOTAK BANL 1500 & 1520 CALLS were so active, stock is really in bullish move more rally is expected up to 1460. 

3. AMBUJA 240 calls were in action today, stock showed us gain from lower level, more buying above 230. 

STOCKS TO WATCH

ZEEL:  

Buy ZEEL above 369 stocks may show 378-382 in coming days, Below 369 major support will be 359.

TATASTEEL:

Sell TATASTEEL as remain below 300 we may see some new lows. Buy only above 300.

ACC: 

Buy ACC as remain above 1480 stock may show 1530/1550 level in coming days, below 1480 major support 1450.

TOP PICKS OF THE DAY

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

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

3. SELL AMBUJA BELOW….? STOCK MAY SHOW 210/200 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty News For Today 06- June- 2015

Nifty levels:  

Nifty spot close @8485

Nifty future close @8495

Today’s view on Nifty

Good recovery from lower level keep buying on dips, we may see 8500 as a resistance level and 8370 as a support level for nifty.    

Bank Nifty levels:  

Bank nifty spot close @18529

Bank nifty future close @18750

View on Banknifty  

Buy as remain above 18400, consolidation seen from upper level, so be cautious we may see profit booking. No sell keep buy on dips.

MARKET COMMENTERY

Banking stocks and index heavyweight HDFC led gains for key benchmark indices on the last trading session of the week today, 3 July 2015. The barometer index, the S&P BSE Sensex, regained the psychological 28,000 level. A small decline had pushed the Sensex below the psychological 28,000 level yesterday, 2 July 2015. The market breadth indicating the overall health of the market was positive. The Sensex provisionally rose 145.33 points or 0.52% to 28,091.13. Metal shares declined.

STOCK BUZZ

1. Most PSU banks stocks edged higher. Union Bank of India (up 4.67%), Central Bank of India (up 2.36%), Vijaya Bank (up 1.22%), Bank of India (up 0.95%), Syndicate Bank (up 0.85%), Canara Bank (up 0.67%), United Bank of India (up 0.62%), Bank of Baroda (up 0.60%), State Bank of India (up 0.50%), Punjab National Bank (up 0.32%), Allahabad Bank (up 0.28%), IDBI Bank (up 0.16%) and Indian Bank (up 0.04%), edged higher. UCO Bank (down 0.28%), Corporation Bank (down 0.39%), Punjab and Sind Bank (down 0.47%), Andhra Bank (down 0.72%) and Bank of Maharashtra (down 2.07%) edged lower.

2. Metal shares declined. Steel Authority of India (down 2.32%), Vedanta (down 2.01%), JSW Steel (down 1.97%), Bhushan Steel (down 1.83%), Hindustan Zinc (down 1.46%), Tata Steel (down 1.12%), Hindustan Copper (down 0.71%), Hindalco Industries (down 0.45%) and National Aluminum Company (down 0.13%) edged lower. NMDC was up 0.17%.

HOT PURSUIT

1. Meanwhile, the Reserve Bank of India (RBI) Governor Dr. Raghuram G. Rajan yesterday, 2 July 2015, said that the Indian economy was recovering and there were signs of capital investments picking up. Rajan said that the government was trying to put stalled projects back on track. He said that the monsoon, thus far, was above normal. Exports were relatively weak and the weakness was on account of global factors. The RBI governor said that the RBI will continue to do spade work for sustainable growth in the coming year. The RBI governor was speaking to the media after the conclusion of a meeting of the Central Board of Reserve Bank of India in Chennai.

2. The IMD expects rainfall to be above normal over northwest, central and over some parts of east India during the period from 6 to 10 July 2015. Rainfall activity may remain above normal over west India during 11-15 July 2015 and over northern plains during 16-20 July 2015, as per IMD's Extended Range Forecast. The IMD has forecast below normal rainfall activity over interior Peninsular India.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8500 call so we can consider this as a strong resistance.

2. RELIANCE 1020 & 1050 CALLS were so active, stock is really in bullish move more rally is expected up to 1050. 

3. AMBUJA 240 calls were in action today, stock showed us gain from lower level, more buying above 230. 

STOCKS TO WATCH

TITAN:  

Buy TITAN above 360 stocks may show 375-380 in coming days, Below 360 major support will be 353.

TATASTEEL:

Sell TATASTEEL as remain below 300 we may see some new lows. Buy only above 300.

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 AMBUJA BELOW….? STOCK MAY SHOW 210/200 LEVEL IN COMING DAYS WITH STOP LOSS…?