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…?
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