Nifty Market Trends for Today

Nifty levels:

  

Nifty spot close @8421

Nifty future close @8421

Today’s view on Nifty

 

Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8300 below that level we may see fresh short position. We have seen intense volatility today; we may see now lower level buying.

Bank Nifty levels:  

Bank nifty spot close @18440

Bank nifty future close @18439

View on Bank nifty  

  

Bank nifty closed around its support level, that is 18400, we may see buying from lower level, once close above 18400, below 18400 major support levels will be 18150.

MARKET COMMENTERY

State-run banks led gains for key benchmark indices. The market sentiment was boosted by news reports that the Union Cabinet has approved amendments to the goods and services tax (GST) bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime, as has been suggested by Rajya Sabha Select Committee. The market breadth indicating the overall health of the market was strong. The barometer index, the S&P BSE Sensex, provisionally rose 191.97 points or 0.7% to 27,755.40. Key benchmark indices hovered in positive zone throughout the trading session today, 30 July 2015. 

STOCK BUZZ

1. Index heavyweight and cigarette major ITC edged higher after the company reported Q1 June 2015 earnings. The stock rose 4.62% at Rs 318, also its day's high. The stock hit a low of Rs 300.60 in intraday trade. ITC's net profit rose 3.61% to Rs 2265.44 crore on 6.11% decline in total income to Rs 8902.71 crore Q1 June 2015 over Q1 June 2014. The result was announced during market hours today, 30 July 2015. 

2. Crompton Greaves (CG) rose 2.61% to Rs 182.90. The company announced during trading hours that it has won an important contract to supply ZIV single phase smart meters to Energias de Portugal (EDP), one of the major European operators in the energy sector. This follows another major order awarded by EDP, selecting CG as the main supplier for data concentrators. Financial details of the deal were not disclosed.

HOT PURSUIT

1. Meanwhile, the Union Cabinet yesterday, 29 July 2015, reportedly approved amendments to the goods and services tax (GST) bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime, as has been suggested by Rajya Sabha Select Committee. The Cabinet agreed to the recommendation made by the Select Committee on compensation to states to win over support of regional parties like TMC of West Bengal and Odisha's BJD, in getting the landmark Constitution Amendment approved by the Upper House where the ruling NDA does not have a majority. The Cabinet decided that the modalities for levy of 1% tax over and above the GST rate by states as well as the ''band'' rate would be finalised while framing the rules, reports added

2. Meanwhile, India's weather office, the India Meteorological Department (IMD), said in its daily monsoon update issued yesterday, 29 July 2015, that the Southwest monsoon was vigorous over Rajasthan and Gujarat state and was active over Gangetic West Bengal during past 24 hours until 8:30 IST.

OPTION STRATEGY

1. In today’s session we have seen call buying in nifty 8400/8500 call so we can consider that nifty will show good buying in coming days.

2. ACC calls and puts were so active, we have seen heavy put writing in 1300 and 1280 puts so in near future we may 1280 level as a major support level for the stock. 

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.

APOLLOTYRE

Buy APOLLOTYRE above 198 stock may show 210/215 level, remain below 198 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

• BUY M&M ABOVE….? TGT…..?STOP LOSS……?

• SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?

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

Nifty Market Trends For Today

Nifty levels:  

Nifty spot close @8375

Nifty future close @8382

Today’s view on Nifty

Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8300 below that level we may see fresh short position. We have seen intense volatility today, we may see now lower level buying.

Bank Nifty levels:  

Bank nifty spot close @18323

Bank nifty future close @18332

View on Bank nifty

Bank nifty closed around its support level, that is 18300, we may see buying from lower level, once close above 18300, below 18300 major support levels will be 18150.

MARKET COMMENTERY

IT stocks led gains for key benchmark indices. The market sentiment improved as crude oil prices extended recent losses. Brent crude oil futures edged lower on persistent worries about a global supply glut. The decline in crude oil prices augurs well for India. Key benchmark indices remained in positive zone throughout 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 105.67 points or 0.38% to 27564.90. In overseas stock markets, Chinese stocks ended higher with sharp gains in the last half-hour of trading.

STOCK BUZZ

1. Metal shares edged higher. Hindustan Zinc (up 1.73%), NMDC (up 1.05%), National Aluminum Company (up 0.98%), Steel Authority of India (up 0.95%), Hindalco Industries (up 0.66%), Tata Steel (up 0.38%) and Hindustan Copper (up 0.09%), edged higher. JSW Steel (down 0.06%), Jindal Steel & Power (down 0.07%) and Bhushan Steel (down 0.69%), edged lower.

2. Vedanta rose 0.97% to Rs 129.70. The company's consolidated profit after tax (PAT) before exceptional items fell 35% to Rs 866 crore on 1% decline in net sales/income from operations to Rs 16952 crore in Q1 June 2015 over Q1 June 2014. The result was announced at the fag end of the trading session today, 29 July 2015.

HOT PURSUIT

1. Meanwhile, India's weather office, the India Meteorological Department (IMD), said in its daily monsoon update issued yesterday, 28 July 2015, that the Southwest Monsoon was vigorous over West Rajasthan and Gujarat state and was active over Gangetic West Bengal, Odisha, Jharkhand, East Rajasthan and West Madhya Pradesh during past 24 hours until 8:30 IST.

2. Chinese stocks edged higher with sharp gains in the last half-hour of trading. In mainland China, the Shanghai Composite jumped 3.44%. In Hong Kong, the Hang Seng index rose 0.47%. China's securities watchdog has decided to investigate whether a coordinated dumping of shares sparked the selloff in Chinese stocks on Monday, 27 July 2015. The Shanghai Composite Index had plunged 8.5% on Monday, 27 July 2015, marking its biggest one day drop in more than eight years.

OPTION STRATEGY

1. In today’s session we have seen call buying in nifty 8400/8500 call so we can consider that nifty will show good buying in coming days.

2. ACC calls and puts were so active, we have seen heavy put writing in 1300 and 1280 puts so in near future we may 1280 level as a major support level for the stock. 

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.

APOLLOTYRE

Buy APOLLOTYRE above 198 stock may show 210/215 level, remain below 198 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

• BUY M&M ABOVE….? TGT…..?STOP LOSS……?

• SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?

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

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…?

NIFTY & BANK NIFTY MARKET TRENDS

Nifty levels:  

Nifty spot close @8361

Nifty future close @8369

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.

Bank Nifty levels: 

Bank nifty spot close @18232

Bank nifty future close @18268

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

A sharp setback in Chinese stocks and fears that the stock market regulator Securities and Exchange Board of India (Sebi) may tighten rules on Participatory Notes (PNs) in the wake of a report by a special investigations team on black money hit sentiment on the domestic bourses adversely. PNs are a popular offshore derivative instrument used by foreign portfolio investors to invest in Indian stocks. The barometer index, the S&P BSE Sensex, hit four week low and the 50-unit CNX Nifty hit its lowest level in more than two weeks as these two key benchmark indices extended intraday losses in late trade. The Sensex fell below the psychological 28,000 mark. The market breadth indicating the overall health of the market was weak. The Sensex was provisionally off 550.93 points or 1.96% at 27,561.38. The BSE Mid-Cap index lost 1.38%. The BSE Small-Cap index fell 1.07%. All the 12 sectoral indices on BSE ended lower today, 27 July 2015. In overseas markets, Chinese stocks tumbled as new capital inflows from authorities appeared to slow.

STOCK BUZZ

1. Reliance Industries' (RIL) fell 2.15% at Rs 1,003. The stock hit a high of Rs 1,035 and a low of Rs 1,001.30 in intraday trade. The company's consolidated net profit rose 4.44% to Rs 6222 crore on 25.93% decline in total income to Rs 78962 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours on Friday, 24 July 2015. Decline in revenue was led by the 43.5% decline in benchmark (Brent) oil price in Q1 June 2015 over Q1 June 2014.

2. Metal shares declined. Tata Steel (down 5.15%), Hindalco Industries (down 4.36%), JSW Steel (down 3.7%), Vedanta (down 3.05%), Bhushan Steel (down 2.89%), NMDC (down 2.64%), Hindustan Copper (down 2.41%), Steel Authority of India (down 2.41%), Jindal Steel & Power (down 1.78%) and National Aluminum Company (down 1.75%) edged lower. Hindustan Zinc was up 0.18%.

HOT PURSUIT

1. Finance Minister Arun Jaitley reportedly said today, 27 July 2015, that the government will not react in a knee-jerk manner on a report by a special investigations team that suggested greater oversight of money laundering in stocks. Jaitley, however, said the government would apply its mind on the recommendations of the Supreme Court-appointed team in due course and would avoid any decision that could hurt investor sentiment, reports added. The Special Investigation Team (SIT) tasked with curbing black money has in its Third SIT Report submitted to the finance ministry has called for identification of beneficial ownership of Participatory Notes (PN).

2. Chinese stocks tumbled today, 27 July 2015, as new capital inflows from authorities appeared to slow. A state-owned fund called China Securities Financial Corp. had reportedly spent hundreds of billions of yuan in supporting the Chinese market after a steep slide in Chinese stocks market in the recent past. In mainland China, the Shanghai Composite index plunged 8.48%. In Hong Kong, the Hang Seng index shed 3.09%. 

OPTION STRATEGY

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

2. TECHM calls were so active, we have seen good rally in stock more upside is expected as remain above 500, we may see 530/550 level in coming days. 

3. SBIN 260/250 PUTS were so active, more sell side is expected, major resistance for the stock will be 277 once close above this level we may see 290/300 level. 

STOCKS TO WATCH

BAJAJAUTO:  

Buy BAJAJ AUTO above 2490 stocks may show some good rally we may see 2550/2570 level in coming days.

CEAT

Buy CEAT above 760 stock may show 790/800 level, remain below 760 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 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…?