Nifty levels:
Nifty spot close @8328
Nifty future close @8352
Today’s view on Nifty
Due to the global clues markets slide below its major support level, though weak global scenario but Indian markets are still strong every dip will be a buying opportunity.
Bank Nifty levels:
Bank nifty spot close @18509
Bank nifty future close @18581
View on Banknifty
Bank nifty closed around its support level around 18400 so remain above that buying opportunity.
MARKET COMMENTERY
Key benchmark indices edged lower in volatile session of trade. After moving in a narrow range for most part of the day, key benchmark indices dropped to intraday low in late trade led by decline in oil & gas and IT stocks. The barometer index, the S&P BSE Sensex, hit its lowest level in 1-1/2 weeks. The 50-unit Nifty hit its lowest level in one week. The Sensex was provisionally down 83.86 points or 0.3% at 27,603.86. The market breadth indicating the overall health of the market was positive.
STOCK BUZZ
1. HCL Technologies fell 1.53%. HCL Technologies during market hours today, 9 July 2015 said that the company is working with SAP as a key partner on the development of multichannel customer self-services for utilities. The SAP Multichannel Foundation for Utilities and Public Sector software allows utility companies to interact with their customers through different communication channels - including the Web (online self-services), mobile and social networks - via a set of standardized and reusable Open Data Protocol (OData) services that are used by end-user applications to access data and processes, HCL Technologies said.
2. Tech Mahindra rose 1.04%. Tech Mahindra announced after trading hours yesterday, 8 July 2015, that it has collaborated with PNMsoft, a global provider of Intelligent BPM Software (iBPMS) solutions, to benefit from synergies in key vertical markets.
HOT PURSUIT
1. Meanwhile, International Monetary Fund Managing Director Christine Lagarde yesterday, 8 July 2015 reportedly reiterated that Greece needs debt restructuring as part of a bailout deal, but warned that Athens won't receive special treatment as the government seeks to delay its loan repayments to the IMF.
2. Chinese stocks rose after the Chinese central government and the People's Bank of China (PBOC) yesterday, 8 July 2015 unveiled a bunch of new measures to stem market rout, including the PBOC providing loans to the state-backed margin financing entity -- China Securities Financing Corporation, the top securities regulator banning large shareholders from reducing their stakes on stock markets within six months, and the police department launching a joint investigation with the securities regulator against "malicious short-selling of stocks.
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. CROMPTON 180 & 190 CALLS were so active, stock is really in bullish move more rally is expected up to 190.
3. VOLTAS 320 calls were in action today, stock showed us gain from lower level, more buying above 320.
STOCKS TO WATCH
ARVIND:
Buy ARVIND above 273 stocks may show 300/310 in coming days, Below 273 major support will be 262.
AMBUJA:
Sell AMBUJA as remain below 238 we may see some new lows. Buy only above 245.
M&M FINENCE:
Buy M&M FINENCE as remain above 270 stock may show 290/300 level in coming days, below 270 major support 261.
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…?
No comments:
Post a Comment