Nifty levels:
Nifty spot close @8368
Nifty future close @8381
Today’s view on Nifty
Intense volatility we have seen today, but 1 best strategy buy on dips as we have already stated. Buy above 8200 we may see some good levels in coming days.
Bank Nifty levels:
Bank nifty spot close @18268
Bank nifty future close @18275
View on Banknifty
Good recovery from lower level buys above 18200 for the target of 18600-18800.
lMARKET COMMENTERY
Pharma, telecom stocks and index heavyweights ITC, Reliance Industries and HDFC led gains for key benchmark indices. Benchmark indices surged towards the fag end of the trading session after moving in a narrow range during most part of the trading session. The upmove for key indices in late trade materialised as European stocks reversed initial losses and trading in US index futures indicated a firm opening of US stocks later in the global day. European stocks reversed initial losses after a Greek newspaper reported that last-minute efforts aimed at bringing Greece and its creditors back to the negotiating table are underway. Negotiations between Greece and its creditors collapsed over the weekend after Greece's Prime Minister Alexis Tsipras on Friday, 26 June 2015, unexpectedly called for a referendum on whether to accept reform measures demanded by the country's lenders.
STOCK BUZZ
1. Bharti Airtel edged higher after the company said that it has become the third largest mobile operator in the world in terms of subscribers. IT shares were mixed. Tech Mahindra extended a steep slide registered during the previous trading session that was triggered by the company issuing a warning that the company's Q1 June 2015 results have some headwinds and tailwinds which could see a risk of marginal decline in both revenue and EBITDA (earnings before interest, taxation, depreciation and amortization) margin of the company on sequential basis.
2. Coal India rose 3.10% at Rs 421 after a foreign brokerage reportedly maintained its 'overweight' outlook on the stock. The foreign brokerage is reportedly convinced about Coal India's volume growth and pricing power and expects 31% compounded annual growth rate (CAGR) in earnings before interest, depreciation, taxation and amortization (EBITDA) over FY 2015-18.
HOT PURSUIT
1. Meanwhile, Greece is reportedly reconsidering an offer put forth by European Commission President Jean-Claude Juncker yesterday, 29 June 2015. Greek Prime Minister Alexis Tsipras was urged to reconsider Juncker's proposal by some members of his government, the report said. The country is under pressure as it faces a Tuesday deadline for a $1.72 billion repayment to the International Monetary Fund and the expiry of its bailout program the same day.
2. Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 29 June 2015, that the Southwest Monsoon was vigorous over East Uttar Pradesh and active over Arunachal Pradesh, Uttarakhand and East Madhya Pradesh during the past 24 hours until 8:30 IST.
OPTION STRATEGY
1. In today’s session we have seen call buying in nifty 8200 call so we can consider this as a strong support.
2. RELIANCE 1020 & 1050 CALLS were so active, stock is really in bullish move more rally is expected up to 1050.
3. ZEEL 350 calls were in action today, stock showed us gain from lower level, more buying above 350.
STOCKS TO WATCH
TITAN:
Buy TITAN above 360 stocks may show 375-380 in coming days.
ITC:
Buy ITC above 310 stock may show 320/330 in coming days. Below 310 major resistances will be 303.
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
• BUY ONGC ABOVE….? TGT…..?STOP LOSS……?
• BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?
• SELL AMBUJA BELOW….? STOCK MAY SHOW 210/200 LEVEL IN COMING DAYS WITH STOP LOSS…?
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