Nifty Levels For Today
Nifty spot close @8124
Nifty future close @8119
Bounce back movement is quiet obvious movement from lower level. We are suggesting that once nifty hold above 8175 or give closing above that level then only buying opportunity, otherwise selling opportunity on every rise. Major support level will be 8000 below that more sharp fall expected.
Bank Nifty Levels For Today
Bank nifty spot close @17707
Bank nifty future close @17670
View on Bank Nifty
Short covering was expected today, selling opportunity below 17900. We may see 17500-17400 level below 17900.
Market Commentary
A decision of major index provider MSCI Inc. not to add Chinese domestic stocks to its widely tracked emerging-markets index helped trigger a rally in key equity benchmark indices in India. Chinese stocks fell after the MSCI announcement in New York yesterday, 9 June 2015. The barometer index, the S&P BSE Sensex, was provisionally up 353.62 points or 1.34% at 26,834.87. The market breadth indicating the overall health of the market was strong. The BSE Mid-Cap index was up 1.08%. The BSE Small-Cap index was up 1.11%. Index heavyweight Reliance Industries (RIL) edged higher. IT shares rose. TCS edged higher after announcing the launch of TCS BaNCS Digital, a solution designed specifically for financial institutions in North America. Capital goods gained on renewed buying.
STOCK BUZZ
- Capital goods gained on renewed buying. Bharat Heavy Electricals (Bhel) (up 4.15%), BEML (up 0.67%), Bharat Electronics (up 1.35%), Crompton Greaves (up 2.64%), L&T (up 2.39%), Siemens (up 2.65%) and Thermax (up 2.28%) gained. ABB India slipped 0.3%.
- Tata Consultancy Services (TCS) rose 1.64%. TCS announced after market hours yesterday, 9 June 2015, the launch of TCS BaNCS Digital, a solution designed specifically for financial institutions in North America. US-based banks can now use TCS BaNCS Digital to deliver an intuitive, interactive and insightful customer experience. TCS BaNCS Digital also allows seamless integration of various stakeholders in the financial supply chain and its ecosystem, TCS said in a statement
HOT PURSUIT
- The RBI said the bonds may be floated in any jurisdiction that is Financial Action Task Force (FATF) compliant. The subscription, coupon payments and redemption may be settled in foreign currency. The proceeds of the bonds can be parked as per the extant provisions on parking of ECB proceeds. The amount and average maturity period of such bonds should be as per the extant ECB guidelines. The call and put option, if any, shall not be exercisable prior to completion of applicable minimum average maturity period. For USD-INR conversion, the Reserve Bank's reference rate on date of issue will be applicable
- International Financial Institutions of which India is a shareholding member intending to deploy the entire proceeds of the issuance in India will not require prior permission of RBI for the issuance of rupee bonds overseas irrespective of amount of issuance. In other cases, where an International Financial Institution (of which India is a member) wishes to retain the freedom to deploy the issue proceeds in any member country shall require prior permission from the RBI /Government of India.
OPTION STRATEGY
- In today’s session we have seen call writing in nifty 8100 call so we can consider this as a strong resistance.
- AMBUJA 230 & 240 CALLS were so active, stock good recovery from lower level.
- ZEEL 340 calls were in action today, stock showed us selling from upper level, more selling below 340.
STOCKS TO WATCH
ICICIBANK:
Selling opportunity below 294 stocks may show 284/278 level in coming days. Above 294 major resistances will be 300.
DISHTV:
Buy DISHTV above 98, stock may show 106/110 level in coming days. Below 98 major supports will be 94.
PFC:
Selling seen on the card below 265, stock may show 245/235 levels in coming days. Though long term buyers can accumulate the stock from dips.
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