Nifty levels:
Nifty spot close @8349
Nifty future close @8368
Today’s view on Nifty Tips
Selling opportunity on rise, sell as remain below 8550 we may see 8400-8350 level in coming days. Above 8550 we may see some fresh buying and it may touch 8600-8650 level.
Bank Nifty levels:
Bank nifty spot close @18059
Bank nifty future close @18153
View on Bank nifty Tips
Bank nifty selling opportunity below 18200 we may see 17900/17600 level in coming days. Major resistance zone will be 18300-18350.
MARKET COMMENTERY
Metal, mining and oil stocks led losses as key equity benchmark indices tumbled amid a sharp slide in global stocks. The barometer index, the S&P BSE Sensex, hit two-week low and the 50-unit CNX Nifty hit its lowest level in more than two weeks as these two key benchmark indices extended intraday losses in late trade. The market sentiment was also hit adversely after opposition parties once again stalled a discussion on the goods and services tax (GST) bill in the Rajya Sabha. The Sensex was provisionally off 348.48 points or 1.25% at 27,517.61. The broad market depicted weakness. There were more than three losers against every gainer on BSE. The BSE Mid-Cap index lost 2.49%. The BSE Small-Cap index was down 2.13%. The decline in both these indices was higher than the Sensex's drop in percentage terms.
STOCK BUZZ
1. NMDC dropped after reporting weak Q1 results. The stock fell 3.01% to Rs 99.90. The stock hit a low of Rs 98 in intraday trade, which is a 52-week low for the stock. The company reported 47.25% fall in net profit to Rs 1010.12 crore on 48.04% fall in total income from operations (net) to Rs 1806.43 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 11 August 2015.
2. Coal India declined 5.26% on reports that the Union Cabinet may consider a proposal for divestment of 5-10% stake in Coal India at a meeting scheduled today, 12 August 2015. Government of India (GoI) currently holds 79.65% stake in Coal India. The government had last sold a 10% stake in Coal India on 31 January 2015. Meanwhile, Coal India is scheduled to announce its Q1 June 2015 results today, 12 August 2015.
HOT PURSUIT
1. Meanwhile, the sentiment on the stock market was also hit adversely after opposition parties once again stalled a discussion on the goods and services tax (GST) bill in the Rajya Sabha. Members of the Congress party yelled slogans in the well of the Rajya Sabha, leading the speaker to adjourn the proceedings of the upper house for the day. With the monsoon session of the Parliament slated to conclude tomorrow, 13 August 2015, the prospects of the GST bill getting approved by the Rajya Sabha are bleak. Failing to approve the GST bill in this session will make it hard for the government to meet a self-imposed deadline to implement a nationwide GST from 1 April 2016.
2. Meanwhile, the sentiment on the stock market was also hit adversely after opposition parties once again stalled a discussion on the goods and services tax (GST) bill in the Rajya Sabha. Members of the Congress party yelled slogans in the well of the Rajya Sabha, leading the speaker to adjourn the proceedings of the upper house for the day. With the monsoon session of the Parliament slated to conclude tomorrow, 13 August 2015, the prospects of the GST bill getting approved by the Rajya Sabha are bleak. Failing to approve the GST bill in this session will make it hard for the government to meet a self-imposed deadline to implement a nationwide GST from 1 April 2016.
OPTION STRATEGY
1. In today’s session we have seen call writing in 8500 strike price, we may see 8500 as a strong resistance level in coming days.
2. KOTAK BANK 700 and 720 calls and puts were so active, we may see some profit booking from upper level.
3. TATASTEEL 250/240 puts were so active today, we may see more selling as remain below 250.
STOCKS TO WATCH
TECHM:
Buy TECHM above 550 stock may show 570-580 level in coming days, below 550 major support will be 535.
MOTHERSONSUMI
Buy stock above 350 stock may show 365/370 level, remain below 350 more down side is expected.
UNIONBANK:
Buy UNIONBANK above 201 for the target of 218/224 in coming days, keep buy on dips.
Top PICKS OF THE DAY
• BUY M&M ABOVE….? TGT…..?STOP LOSS……?
• SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
• SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?
Nifty spot close @8349
Nifty future close @8368
Today’s view on Nifty Tips
Selling opportunity on rise, sell as remain below 8550 we may see 8400-8350 level in coming days. Above 8550 we may see some fresh buying and it may touch 8600-8650 level.
Bank Nifty levels:
Bank nifty spot close @18059
Bank nifty future close @18153
View on Bank nifty Tips
Bank nifty selling opportunity below 18200 we may see 17900/17600 level in coming days. Major resistance zone will be 18300-18350.
MARKET COMMENTERY
Metal, mining and oil stocks led losses as key equity benchmark indices tumbled amid a sharp slide in global stocks. The barometer index, the S&P BSE Sensex, hit two-week low and the 50-unit CNX Nifty hit its lowest level in more than two weeks as these two key benchmark indices extended intraday losses in late trade. The market sentiment was also hit adversely after opposition parties once again stalled a discussion on the goods and services tax (GST) bill in the Rajya Sabha. The Sensex was provisionally off 348.48 points or 1.25% at 27,517.61. The broad market depicted weakness. There were more than three losers against every gainer on BSE. The BSE Mid-Cap index lost 2.49%. The BSE Small-Cap index was down 2.13%. The decline in both these indices was higher than the Sensex's drop in percentage terms.
STOCK BUZZ
1. NMDC dropped after reporting weak Q1 results. The stock fell 3.01% to Rs 99.90. The stock hit a low of Rs 98 in intraday trade, which is a 52-week low for the stock. The company reported 47.25% fall in net profit to Rs 1010.12 crore on 48.04% fall in total income from operations (net) to Rs 1806.43 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 11 August 2015.
2. Coal India declined 5.26% on reports that the Union Cabinet may consider a proposal for divestment of 5-10% stake in Coal India at a meeting scheduled today, 12 August 2015. Government of India (GoI) currently holds 79.65% stake in Coal India. The government had last sold a 10% stake in Coal India on 31 January 2015. Meanwhile, Coal India is scheduled to announce its Q1 June 2015 results today, 12 August 2015.
HOT PURSUIT
1. Meanwhile, the sentiment on the stock market was also hit adversely after opposition parties once again stalled a discussion on the goods and services tax (GST) bill in the Rajya Sabha. Members of the Congress party yelled slogans in the well of the Rajya Sabha, leading the speaker to adjourn the proceedings of the upper house for the day. With the monsoon session of the Parliament slated to conclude tomorrow, 13 August 2015, the prospects of the GST bill getting approved by the Rajya Sabha are bleak. Failing to approve the GST bill in this session will make it hard for the government to meet a self-imposed deadline to implement a nationwide GST from 1 April 2016.
2. Meanwhile, the sentiment on the stock market was also hit adversely after opposition parties once again stalled a discussion on the goods and services tax (GST) bill in the Rajya Sabha. Members of the Congress party yelled slogans in the well of the Rajya Sabha, leading the speaker to adjourn the proceedings of the upper house for the day. With the monsoon session of the Parliament slated to conclude tomorrow, 13 August 2015, the prospects of the GST bill getting approved by the Rajya Sabha are bleak. Failing to approve the GST bill in this session will make it hard for the government to meet a self-imposed deadline to implement a nationwide GST from 1 April 2016.
OPTION STRATEGY
1. In today’s session we have seen call writing in 8500 strike price, we may see 8500 as a strong resistance level in coming days.
2. KOTAK BANK 700 and 720 calls and puts were so active, we may see some profit booking from upper level.
3. TATASTEEL 250/240 puts were so active today, we may see more selling as remain below 250.
STOCKS TO WATCH
TECHM:
Buy TECHM above 550 stock may show 570-580 level in coming days, below 550 major support will be 535.
MOTHERSONSUMI
Buy stock above 350 stock may show 365/370 level, remain below 350 more down side is expected.
UNIONBANK:
Buy UNIONBANK above 201 for the target of 218/224 in coming days, keep buy on dips.
Top PICKS OF THE DAY
• BUY M&M ABOVE….? TGT…..?STOP LOSS……?
• SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
• SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?
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