Nifty levels:
Nifty spot close @8454
Nifty future close @8457
Today’s view on Nifty
Markets are facing resistance from upper level, we may see some selling pressure around 8480-8500 so be cautious while trading we may see some profit booking from these levels.
Bank Nifty levels:
Bank nifty spot close @18780
Bank nifty future close @18806
View on Banknifty
As yesterday we said profit booking is expected from upper level, same thing happened today, banknifty could not maintain above 19000 level. But don’t be so panic buy on dips.
MARKET COMMENTERY
Index heavyweights Reliance Industries (RIL), ITC and HDFC led losses for key benchmark indices. Benchmark indices registered small losses after alternately moving between positive and negative zone in intraday trade. The overall movement for the benchmark indices was within a relatively narrow range during the trading session. The barometer index, the S&P BSE Sensex, fell below the psychological 28,000 mark soon after surpassing that level in mid-afternoon trade. The market breadth indicating the overall health of the market was positive. The Sensex was provisionally off 77.12 points or 0.28% at 27,884.07. In overseas stock markets, European stocks edged lower, with energy shares falling after Iran reached a historic nuclear deal and as cautiousness set in over Greece's bailout deal.
STOCK BUZZ
1. Tata Motors fell on concerns of slowdown in China's luxury car market after Brilliance China Automotive Holdings, which makes BMW cars in China, issued a profit warning yesterday, 13 July 2015, citing slowing sales in the world's biggest car market. The stock dropped 4.31%.
2. Realty stocks declined. Sobha (down 0.11%), Indiabulls Real Estate (down 2.9%), Unitech (down 0.64%), Housing Development & Infrastructure (HDIL) (down 1.65%), Oberoi Realty (down 0.61%), Phoenix Mills (down 0.08%), DLF (down 1.04%) and Godrej Properties (down 0.12%) edged lower.
HOT PURSUIT
1. Meanwhile, in global commodities markets, Brent crude oil prices edged lower in choppy trade after Iran today, 14 July 2015, reached a historic nuclear deal with the US and five other world powers. The accord, which is expected to be signed off in Vienna today, 14 July 2015, aims to prevent Iran from producing nuclear weapons, in exchange for sanctions relief. The lifting of economic sanctions on Iran will allow the country to resume oil exports. Brent for August settlement was currently off $1.09 a barrel at $56.76 a barrel. The contract had declined 88 cents or 1.49% to settle at $57.85 a barrel during the previous trading session. The August Brent contract is set to expire on 16 July 2015. Brent for September settlement was currently off $1.04 a barrel at $57.11 a barrel.
2. The left-wing Syriza party won elections in January on a promise to end austerity. Greece has already received two bailouts totalling euro 240 billion since 2010. Greek banks have been closed for two weeks, with withdrawals at cash machines limited to 60 euro per day, and will remain closed until after Wednesday, 15 July 2015.
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. AMBUJA 250 & 260 CALLS were so active, stock is really in bullish move more rally is expected up to 260.
3. ONGC 280 PUTS were in action today, stock showed us short position from upper level, more selling below 300.
STOCKS TO WATCH
ARVIND:
Buy ARVIND above 273 stocks may show 300/310 in coming days, Below 273 major support will be 262.
AMBUJA:
Buy AMBUJA as remain above 240 we may see some good move. Buy only above 240.
MARUTI:
Buy MARUTI as remain above 3990 stock may show 4100/4150 level in coming days, below 3990 major support 3960.
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 spot close @8454
Nifty future close @8457
Today’s view on Nifty
Markets are facing resistance from upper level, we may see some selling pressure around 8480-8500 so be cautious while trading we may see some profit booking from these levels.
Bank Nifty levels:
Bank nifty spot close @18780
Bank nifty future close @18806
View on Banknifty
As yesterday we said profit booking is expected from upper level, same thing happened today, banknifty could not maintain above 19000 level. But don’t be so panic buy on dips.
MARKET COMMENTERY
Index heavyweights Reliance Industries (RIL), ITC and HDFC led losses for key benchmark indices. Benchmark indices registered small losses after alternately moving between positive and negative zone in intraday trade. The overall movement for the benchmark indices was within a relatively narrow range during the trading session. The barometer index, the S&P BSE Sensex, fell below the psychological 28,000 mark soon after surpassing that level in mid-afternoon trade. The market breadth indicating the overall health of the market was positive. The Sensex was provisionally off 77.12 points or 0.28% at 27,884.07. In overseas stock markets, European stocks edged lower, with energy shares falling after Iran reached a historic nuclear deal and as cautiousness set in over Greece's bailout deal.
STOCK BUZZ
1. Tata Motors fell on concerns of slowdown in China's luxury car market after Brilliance China Automotive Holdings, which makes BMW cars in China, issued a profit warning yesterday, 13 July 2015, citing slowing sales in the world's biggest car market. The stock dropped 4.31%.
2. Realty stocks declined. Sobha (down 0.11%), Indiabulls Real Estate (down 2.9%), Unitech (down 0.64%), Housing Development & Infrastructure (HDIL) (down 1.65%), Oberoi Realty (down 0.61%), Phoenix Mills (down 0.08%), DLF (down 1.04%) and Godrej Properties (down 0.12%) edged lower.
HOT PURSUIT
1. Meanwhile, in global commodities markets, Brent crude oil prices edged lower in choppy trade after Iran today, 14 July 2015, reached a historic nuclear deal with the US and five other world powers. The accord, which is expected to be signed off in Vienna today, 14 July 2015, aims to prevent Iran from producing nuclear weapons, in exchange for sanctions relief. The lifting of economic sanctions on Iran will allow the country to resume oil exports. Brent for August settlement was currently off $1.09 a barrel at $56.76 a barrel. The contract had declined 88 cents or 1.49% to settle at $57.85 a barrel during the previous trading session. The August Brent contract is set to expire on 16 July 2015. Brent for September settlement was currently off $1.04 a barrel at $57.11 a barrel.
2. The left-wing Syriza party won elections in January on a promise to end austerity. Greece has already received two bailouts totalling euro 240 billion since 2010. Greek banks have been closed for two weeks, with withdrawals at cash machines limited to 60 euro per day, and will remain closed until after Wednesday, 15 July 2015.
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. AMBUJA 250 & 260 CALLS were so active, stock is really in bullish move more rally is expected up to 260.
3. ONGC 280 PUTS were in action today, stock showed us short position from upper level, more selling below 300.
STOCKS TO WATCH
ARVIND:
Buy ARVIND above 273 stocks may show 300/310 in coming days, Below 273 major support will be 262.
AMBUJA:
Buy AMBUJA as remain above 240 we may see some good move. Buy only above 240.
MARUTI:
Buy MARUTI as remain above 3990 stock may show 4100/4150 level in coming days, below 3990 major support 3960.
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…?
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