Nifty levels:
Nifty spot close @8567
Nifty future close @8595
Today’s view on Nifty
Nifty closed above its resistance level, more buying opportunity as remain above 8500 we may see 8620/8650 level soon.
Bank Nifty levels:
Bank nifty spot close @18928
Bank nifty future close @19035
View on Bank nifty
Smart move from dips keep buying no selling please, good move in PSU banks, major support zone will be 18650-18800.
MARKET COMMENTERY
IT stocks led modest gains for key benchmark indices. However, a decline in banking stocks pulled benchmark indices off the day's high. Benchmark indices hovered in green throughout the trading session today, 5 August 2015. The market breadth indicating the overall health of the market was positive. The barometer index, the S&P BSE Sensex, was provisionally up 130.69 points or 0.47% at 28,202.62. Realty stocks edged higher on renewed buying. In overseas markets, Asian and European stocks edged higher after the outcome of a monthly survey showed that China's services sector showed continued strength in July.
STOCK BUZZ
1. Realty stocks edged higher on renewed buying. DLF (up 6.12%), Indiabulls Real Estate (up 4.57%), Housing Development and Infrastructure (up 4.08%), D B Realty (up 4.37%), Unitech (up 4.95%), Sobha (up 0.2%), Godrej Properties (up 0.77%), Oberoi Realty (up 0.33%) and Parsvnath Developers (up 2.94%) gained.
2. IT stocks were in demand on renewed buying. TCS (up 1.34%), Infosys (up 2.64%), Wipro (up 2.74%), HCL Technologies (up 0.37%) and Tech Mahindra (up 1.96%) gained.
HOT PURSUIT
1. Meanwhile, Taiwanese electronics giant Foxconn said yesterday, 4 August 2015, that the company is considering setting up manufacturing facilities in India. Foxconn Chairman Terry Gou reportedly said at a news conference in New Delhi yesterday, 4 August 2015, that Foxconn intends to set up manufacturing facilities for producing televisions, routers, switches, storage equipment and batteries among other devices in India. Foxconn is the world's largest contract electronics manufacturer by revenue.
2. Meanwhile, India's weather office, the India Meteorological Department (IMD) said in a daily report issued yesterday, 4 August 2015, that the Southwest Monsoon was active over Madhya Pradesh, Vidarbha and Chhattisgarh during past 24 hours until 8:30 IST. For the country as a whole, cumulative rainfall during this year's monsoon season was 7% below the Long Period Average (LPA) until 4 August 2015. Region wise, the rainfall was 21% below the LPA in South Peninsula, 8% below the LPA in East & Northeast India, 6% below the LPA in Central India and 6% above the LPA in Northwest India until 4 August 2015.
OPTION STRATEGY
1. In today’s session we have seen call writing in 8600 strike price, we may see 8600 as a strong resistance level in coming days.
2. KOTAK BANK 700 and 720 calls and put were so active, we may see some more falls in stock below 700.
3. TATASTEEL 260/270 calls were so active today, we may see more buying as remain below 256.
STOCKS TO WATCH
SBIN:
Buy SBIN above 282 stock may show 300-310 level in coming days, below 282 major support will be 274.
ICICIBANK:
Buy ICICIBANK above 299 stock may show 325/335 level, remain below 299 more down side is expected.
UNIONBANK:
Buy UNIONBANK above 196 for the target of 208/214 in coming days, keep buy on dips.
Top PICKS OF THE DAY
1. BUY M&M ABOVE….? TGT…..?STOP LOSS……?
2. SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
3. SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?
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