Nifty levels:
Nifty spot close @8477
Nifty future close @8368
Today’s view on Nifty
Selling opportunity on rise, sell as remain below 8550 we may see 8300-8250 level in coming days. Above 8450 we may see some fresh buying and it may touch 8500-8650 level.
Bank Nifty levels:
Bank nifty spot close @18822
Bank nifty future close @18825
View on Bank nifty
Banknifty selling opportunity below 18900 we may see 18500/18300 level in coming days. Major support zone will be 18300-18350.
MARKET COMMENTERY
Oil stocks led losses as key benchmark indices edged lower on the first trading session of the week. The barometer index, the S&P BSE Sensex, provisionally settled below the psychological 28,000 level, having alternately moved above and below that level in intraday trade. Earlier, the Sensex had fallen below the psychological 28,000 level in early trade. The Sensex was provisionally off 208.33 points or 0.74% to 27,858.98. The market breadth indicating the overall health of the market once again turned positive from negative in late trade.
STOCK BUZZ
Shares of public sector banks (PSU banks) edged higher after the government after trading hours on Friday, 14 August 2015, announced a revamp plan for PSU banks. The government announced the appointment of MD and CEOs of five public sector banks (PSU banks) and Non-executive Chairman of five PSU banks. The government also announced capital allocation of Rs 20088 crore to a total of 13 PSU banks as part of Tranche 1 and Tranche 2 of recapitalization announced recently. The government also announced the structure of Bank Board Bureau (BBB) which will replace the Appointments Board for appointment of Whole-Time Directors and Non-Executive Chairman of PSU banks. The government also announced a new framework of Key Performance Indicators (Kpis) to be measured for evaluating the performance of PSU banks. The government further said that it is considering offering ESOPs for top management of PSU banks.
Tata Motors edged higher amid volatility after the company reported weak global wholesales in July 2015. The stock was up 0.14% at Rs 355.85. The stock hit a high of Rs 362 and a low of Rs 345.75 in intraday trade. Tata Motors' global wholesales including Jaguar Land Rover (JLR), dropped 8% to 73,535 units in July 2015 over July 2014. The announcement was made after market hours on Friday, 14 August 2015. Global wholesales of commercial vehicles fell 3% to 30,278 units in July 2015 over July 2014. Global wholesales of passenger vehicles dropped 12% to 43,257 units in July 2015 over July 2014.
HOT PURSUIT
1. Meanwhile, investors continue to watch the progress of the monsoon rains which will have a bearing on food prices and rural income. India's weather office, the India Meteorological Department (IMD), said in a daily report issued yesterday, 16 August 2015, that for the country as a whole, cumulative rainfall during this year's monsoon season was 10% below the Long Period Average (LPA) until 16 August 2015. Region wise, the rainfall was 20% below the LPA in South Peninsula, 13% below the LPA in East & Northeast India, 9% below the LPA in Central India and 1% above the LPA in Northwest India until 16 August 2015.
2. In Greece, the Athex Composite Share Price Index was up 0.67%. Eurozone finance ministers on Friday, 14 August 2015, cleared 86 billion euros ($95.22 billion) in new bailout loans for Greece, helping the debt-laden country stave off bankruptcy. The money will come in several installments, with the first tranche of money expected to be made by 20 August 2015, when Athens must repay euro 3.2 billion to the European Central Bank.
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. SBI 280 and 290 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
ASHOKLEYLAND:
Buy ASHOKLEYLAND above 89 stock may show 95-96 level in coming days, below 89 major support will be 87.
MOTHERSONSUMI
Buy stock above 350 stock may show 365/370 level, remain below 350 more down side is expected.
VOLTAS:
Buy VOLTAS above 300 for the target of 325/345 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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