Nifty levels:
Nifty spot close @8609
Nifty future close @8631
Today’s view on Nifty
Good and strong recovery, midcap is outperforming the index, buying opportunity on dips more bullish move ahead.
Bank Nifty levels:
Bank nifty spot close @19094
Bank nifty future close @19159
View on Bank nifty
Fresh buying seen in intraday trade, be cautious, we may see little profit booking, so make fresh buy only on dips. So keep buy we may see 19300-19400 level.
MARKET COMMENTERY
Auto stocks and index heavyweights ITC and Infosys led gains for benchmark indices on the last trading session of the week today, 17 July 2015. Benchmark indices registered minuscule gains. The intraday movement for the benchmark indices was within a narrow range. The barometer index, the S&P BSE Sensex, was provisionally up 28.09 points or 0.1% at 28,474.21. The market breadth indicating the overall health of the market was positive. In overseas markets, Chinese shares recovered further after a series of government support measures to halt their recent crash.
STOCK BUZZ
1. MindTree said that the Board of Directors of the company has approved the acquisition of 100% equity interest in Bluefin Solutions ('Bluefin'), a leading UK based IT solutions provider specializing in SAP HANA solutions, in an all cash transaction for GBP 42.3 million, and the definitive agreements have also been signed on 16 July 2015. The considerations include an upfront payment of GBP 34 million and earn out of GBP 8.3 million payable over the next three years.
2. IT stocks edged higher on renewed buying. Tech Mahindra (up 2.48%), TCS (up 0.86%), Oracle Financial Services Software (up 0.68%), MphasiS (up 0.91%) and Infosys (up 1.53%), edged higher. Wipro (down 0.57%) and HCL Technologies (down 0.16%) declined.
HOT PURSUIT
1. Meanwhile, the India's weather office, the India Meteorological Department (IMD), said in a weekly monsoon report issued yesterday, 16 July 2015, that rainfall was below normal by 14% over the country as a whole during the period from 9 to 15 July 2015. Region wise, the rainfall was 39% below the Long Period Average (LPA) in South Peninsula, 32% below the LPA in Central India and 15% below the LPA in East & Northeast India during the period from 9 to 15 July 2015. Northwest India received above normal rainfall activity during the week with heavy to very heavy rainfall. The rainfall was 28% above the LPA in Northwest India during the period from 9 to 15 July 2015.
2. The European Central Bank (ECB) yesterday, 16 July 2015, increased emergency funding for Greek lenders, although capital controls will have to remain in place to avoid a run on the banks when they reopen on Monday, 20 July 2015. European Union finance ministers also approved 7 billion euros ($7.6 billion) in bridge loans to Greece, allowing it to make a bond payment to the ECB on Monday, 20 July 2015, and clear its arrears with the International Monetary Fund. Greece's parliament yesterday, 16 July 2015, approved tough austerity measures needed for the country to receive financial aid.
OPTION STRATEGY
1. In today’s session we have seen call buying in nifty 8400 call so we can consider this as a strong support.
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
CROMPTON GREVES:
Buy CROMPTON GREVE above 186 stocks may show 210/220 in coming days, Below 186 major support will be 175.
ITC:
Buy ITC as remain above 314 we may see some good move. Buy only above 314.
TATAMOTOR:
Buy TATAMOTOR as remain above 395 stock may show 410/415 level in coming days, below 395 major support 382.
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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