Bank Nifty Market News 06 Aug 2015

Nifty levels:

Nifty spot close @8567

Nifty future close @8595

Today’s view on Nifty

Nifty closed above its resistance level, more buying opportunity as remain above 8500 we may see 8620/8650 level soon.

Bank Nifty levels:

Bank nifty spot close @18928

Bank nifty future close @19035

View on Bank nifty

Smart move from dips keep buying no selling please, good move in PSU banks, major support zone will be 18650-18800.

MARKET COMMENTERY

IT stocks led modest gains for key benchmark indices. However, a decline in banking stocks pulled benchmark indices off the day's high. Benchmark indices hovered in green throughout the trading session today, 5 August 2015. The market breadth indicating the overall health of the market was positive. The barometer index, the S&P BSE Sensex, was provisionally up 130.69 points or 0.47% at 28,202.62. Realty stocks edged higher on renewed buying. In overseas markets, Asian and European stocks edged higher after the outcome of a monthly survey showed that China's services sector showed continued strength in July.

STOCK BUZZ

1. Realty stocks edged higher on renewed buying. DLF (up 6.12%), Indiabulls Real Estate (up 4.57%), Housing Development and Infrastructure (up 4.08%), D B Realty (up 4.37%), Unitech (up 4.95%), Sobha (up 0.2%), Godrej Properties (up 0.77%), Oberoi Realty (up 0.33%) and Parsvnath Developers (up 2.94%) gained.

2. IT stocks were in demand on renewed buying. TCS (up 1.34%), Infosys (up 2.64%), Wipro (up 2.74%), HCL Technologies (up 0.37%) and Tech Mahindra (up 1.96%) gained.

HOT PURSUIT

1. Meanwhile, Taiwanese electronics giant Foxconn said yesterday, 4 August 2015, that the company is considering setting up manufacturing facilities in India. Foxconn Chairman Terry Gou reportedly said at a news conference in New Delhi yesterday, 4 August 2015, that Foxconn intends to set up manufacturing facilities for producing televisions, routers, switches, storage equipment and batteries among other devices in India. Foxconn is the world's largest contract electronics manufacturer by revenue.

2. Meanwhile, India's weather office, the India Meteorological Department (IMD) said in a daily report issued yesterday, 4 August 2015, that the Southwest Monsoon was active over Madhya Pradesh, Vidarbha and Chhattisgarh during past 24 hours until 8:30 IST. For the country as a whole, cumulative rainfall during this year's monsoon season was 7% below the Long Period Average (LPA) until 4 August 2015. Region wise, the rainfall was 21% below the LPA in South Peninsula, 8% below the LPA in East & Northeast India, 6% below the LPA in Central India and 6% above the LPA in Northwest India until 4 August 2015.

OPTION STRATEGY

1. In today’s session we have seen call writing in 8600 strike price, we may see 8600 as a strong resistance level in coming days.

2. KOTAK BANK 700 and 720 calls and put were so active, we may see some more falls in stock below 700.

3. TATASTEEL 260/270 calls were so active today, we may see more buying as remain below 256.

STOCKS TO WATCH

SBIN:

Buy SBIN above 282 stock may show 300-310 level in coming days, below 282 major support will be 274.

ICICIBANK:

Buy ICICIBANK above 299 stock may show 325/335 level, remain below 299 more down side is expected.

UNIONBANK:

Buy UNIONBANK above 196 for the target of 208/214 in coming days, keep buy on dips.

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…?

Opening Bell 06-Aug-2015

CS NIFTY FUTURES (AUG)  OVERVIEW:

TREND MIXED TO BULLISH

RES2:8670

RES 1:8630

SUP1:8525

SUP2:8475

--------------------------------------

CS BANK NIFTY FUTURES (AUGUST ) OVERVIEW:

TREND MIXED TO BULLISH

RES 2:19275

RES 1:19205

SUP1:18915

SUP2:18855

---------------------------------------

CS OPENING BELL:

NIFTY SPOT UP 1@8567

SENSEX UP 20@28242

BANK NIFTY FUTURES DOWN 47@18967

HAPPY TRADING

WWW.CAPITALSTARS.COM 

+917316790000

CLOSING BELL 05-Aug

CS CLOSING BELL:

NIFTY SPOT UP 50@8567

SENSEX UP 152@28225

BANK NIFTY FUTURES DOWN 40 @19020

HAVE A NICE DAY!

WWW.CAPITALSTARS.COM +917316790000

DAILY NIFTY SMART MOVERS

SCRIPTS	PRICE		VOLUME             (IN 000’S)		PRE. CLOSE		CHANGE (%)	CHANGE (Rs.)
Bajaj Auto	2580.00		560.69		2511.90		2.71	68.10
Infosys	1085.65		2281.84		1057.25		2.69	28.40
Wipro	574.85		1035.84		559.85		2.68	15.00
ZeeL	413.90		3370.67		403.20		2.65	10.70
Lupin	1680.45		994.56		1640.50		2.44	39.95

DAILY NIFTY TOP LAGGARDS               

SCRIPTS	PRICE	VOLUME (000’S)	PRE. CLOSE	CHANGE (%)	CHANGE (Rs.)
SBI	284.45	9795.86	288.60	-1.44	-4.15
Bank Of Baroda	188.35	12570.35	191.05	-1.41	-2.70
Tata Motors	375.60	7918.31	380.75	-1.35	-5.15
Coal India	437.50	3350.60	443.40	-1.33	-5.90
Yes Bank	830.50	1278.74	841.65	-1.32	-11.15

Nifty and Bank Nifty Market Trends

Nifty levels:  

Nifty spot close @8516

Nifty future close @8544

Today’s view on Nifty

Nifty closed above its resistance level, more buying opportunity as remain above 8500 we may see 8620/8650 level soon.

Bank Nifty levels: 

Bank nifty spot close @18972

Bank nifty future close @19080

View on Bank nifty  

Smart move from dips keep buying no selling please, good move in PSU banks, major support zone will be 18650-18800.

MARKET COMMENTERY

A divergent trend for index constituents caused modest losses for key benchmark indices. While metal and PSU bank stocks rose, shares of telecom companies and oil exploration and production (E&P) firms dropped. Benchmark indices witnessed high intraday volatility. The barometer index, the S&P BSE Sensex, provisionally settled above the psychological 28,000 level, having alternately moved above and below that mark intraday trade. Earlier, the Sensex had fallen below the psychological 28,000 level amid high volatility in mid-morning trade. The market breadth indicating the overall health of the market was positive. The Sensex was provisionally off 96.54 points or 0.34% at 28,090.52. The BSE Mid-Cap index was provisionally up 1.11%, outperforming the Sensex.  

STOCK BUZZ

1. Shares of oil exploration and production (E&P) companies fell after crude oil prices dropped sharply yesterday, 3 August 2015. Cairn India (down 2.77%), ONGC (down 2.1%), and Reliance Industries (RIL) (down 1.16%) declined. Fall in crude oil prices would result in lower realizations from crude sales for oil exploration firms. Oil India rose 0.03% 

2. Shares of public sector oil marketing companies (PSU OMCs) edged higher as global crude oil prices dropped sharply yesterday, 3 August 2015. Indian Oil Corporation (up 0.48%), HPCL (up 0.95%) and BPCL (up 2.83%) edged higher. 

HOT PURSUIT

1. Meanwhile, India's weather office, the India Meteorological Department (IMD), after trading hours yesterday, 3 August 2015, announced that the rainfall over the country as a whole during second half of southwest monsoon season (August to September) is likely to be below normal with a probability of 86%. Quantitatively, the rainfall over the country as a whole during the second half of the season (August to September) is likely to be 84% of long period average (LPA), with a model error of plus/minus 8%. From April to July 2015, El Nino conditions have strengthened from weak to moderate level. Latest forecast from ESSO-IMD-IITM coupled model indicates 72% probability of El Nino conditions to become strong during remaining part of the monsoon season. Over the Indian Ocean, there is 86% probability of current neutral Indian Ocean Dipole conditions to continue during the monsoon season. 

2. Meanwhile, the Reserve Bank of India (RBI) kept its benchmark lending rate viz. the repo rate unchanged at 7.25% after a monetary policy review today, 4 August 2015. The RBI also kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4% of net demand and time liability (NDTL). RBI Governor Dr. Raghuram G. Rajan said that the RBI has retained the accommodative stance of monetary policy. As the RBI awaits greater transmission of its front-loaded repo rate cuts since January 2015, it will monitor developments for emerging room for more accommodation, Rajan said in the written monetary policy statement. While the RBI has cut repo rate by 75 basis points since January 2015, the median base lending rates of banks has fallen by only around 30 basis points so far. 

OPTION STRATEGY

1. In today’s session we have seen call writing in 8600 strike price, we may see 8600 as a strong resistance level in coming days. 

2. KOTAK BANK 700 and 720 calls and put were so active, we may see some more falls in stock below 700.  

3. TATASTEEL 260/270 calls were so active today, we may see more buying as remain below 256.

STOCKS TO WATCH

SBIN:  

Buy SBIN above 282 stock may show 300-310 level in coming days, below 282 major support will be 274.

ICICIBANK:

Buy ICICIBANK above 299 stock may show 325/335 level, remain below 299 more down side is expected.

UNIONBANK: 

Buy UNIONBANK above 196 for the target of 208/214 in coming days, keep buy on dips.

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…?