Nifty levels:
Nifty spot close @8608
Nifty future close @8630
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 @18816
Bank nifty future close @18890
View on Banknifty
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
Shares of private banks led rally as key benchmark indices surged after Greece's parliament approved tough austerity measures needed for the country to receive financial aid and potentially avoid its exit from the eurozone. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit their highest level in more than twelve weeks as these two key benchmark indices extended their intraday gains in late trade. The market breadth indicating the overall health of the market was positive.
STOCK BUZZ
1. Kotak Mahindra Bank jumped 4.2%. The government yesterday, 15 July 2015, deferred a decision on a proposal to raise the aggregate foreign investment ceiling in Kotak Mahindra Bank to 55%. The bank had sought approval from the Foreign Investment Promotion Board (FIPB) for increasing the aggregate foreign investment ceiling in the bank to 55% pursuant to a merger of ING Vysya Bank with Kotak Mahindra Bank.
2. HDFC Bank rose 1.99% to Rs 1,118.55 on reports that a prominent domestic brokerage has maintained its buy call on the stock. The stock hit a high of Rs 1,118.85 intraday trade, which is a record high for the counter. The brokerage reportedly said that HDFC Bank is best placed in the current environment. It further added that HDFC Bank has most granular balance sheet amongst the Indian lenders and digitalization initiatives are gaining traction.
HOT PURSUIT
1. Meanwhile, the Union Cabinet today, 16 July 2015, gave its approval to review the existing foreign direct investment (FDI) policy on various sectors provided in the Consolidated FDI Policy Circular 2014, as amended by the Consolidated FDI Policy Circular 2015, by introducing composite caps for simplification of FDI policy to attract foreign investments. Finance Minister Arun Jaitley said at a press conference after a meeting of the Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA) that the government has approved clubbing of different categories of foreign investment in companies into a composite cap. He added that foreign direct investment, foreign portfolio investment and investments by non-resident Indians would be "clubbed together under a composite cap".
2. Meanwhile, the Cabinet Committee on Economic Affairs (CCEA) today, 16 July 2015, approved the creation of an intra state transmission system in Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra and Rajasthan at an estimated cost of Rs 8548.68 crore with Government of India contribution from National Clean Energy Fund (NCEF) of Rs 3419.47 crore. These states are rich in renewable resource potential and large capacity renewable power projects are planned there. Creation of an intra state transmission system will facilitate evacuation of renewable power from generation stations to load centres, according to a government statement.
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
ARVIND:
Buy ARVIND above 280 stocks may show 300/310 in coming days, Below 280 major support will be 273.
AMBUJA:
Buy AMBUJA as remain above 240 we may see some good move. Buy only above 240.
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…?
No comments:
Post a Comment