Nifty levels:
Nifty spot close @8152
Nifty future close @8162
Today’s view on Nifty
Fantastic
recovery from lower level, no need to sell, buy on every dip will be a
best strategy, above 8125 next target will be 8250-8300.
Bank Nifty levels:
Bank nifty spot close @17605
Bank nifty future close @17675
View on Banknifty
Buy as remain above 17500 we may see 17800-18000 level in coming days, below 17500 major support will be 17250.
MARKET COMMENTERY
Gains
in index heavyweight ITC and oil and pharma sector stocks aided modest
gains for key benchmark indices. The barometer index, the S&P BSE
Sensex, rose 131.67 points or 0.49% at 26,917.22, as per the provisional
closing data. The 50-unit CNX Nifty gained 34.05 points or 0.42% at
8,153.35, as per the provisional closing data. The Sensex failed to
retain the psychological 27,000 mark after surpassing that mark in
intraday trade.
STOCK BUZZ
• Tata Motors jumped
5.74%, with the stock extending a rally registered during the previous
trading session. Jaguar Land Rover North America announced on 1 October
2015 that its US sales rose 61% to 6,850 units in September 2015 over
September 2014.
• Oil
exploration firms gained along with rise in crude oil prices. ONGC (up
2.85%), Cairn India (up 2.39%), Reliance Industries (RIL) (up 1.09%) and
Oil India (up 1.13%) gained. Higher crude oil prices would result in
higher realizations from crude sales for oil exploration firms.
HOT PURSUIT
1.
Meanwhile, the finance ministry yesterday, 5 October 2015, announced
that the central government's expenditure on major subsidies has come
down to 1.6% of GDP in 2015-16 from 2.5% of GDP in 2012-13. There could
be a shortfall of around 5% to the estimated target of tax collection of
Rs 14.5 lakh crore for the current fiscal year. The government is
committed to achieving this year's fiscal deficit target as well as the
fiscal glide path laid out in the budget, the finance ministry said. The
central government's infrastructure spending has picked-up on the back
of accelerated spending on highways, railways and the power sector. The
central government's Plan Cap-EX has increased by over 30% this year.
This is beginning to crowd-in private investment. The public private
partnership projects which had been stalled are also now picking up.
2.
The finance ministry issued the statement after a press conference held
by various secretaries to the Ministry of Finance and Chief Economic
Adviser (CEA) Dr Arvind Subramanian on the completion of six months of
financial year 2015-16 on 30 September 2015.
OPTION STRATEGY
- In
today’s session we have seen call buying in 8100 and 8200 strike price,
we may see 8200 as a strong resistance level in coming days.
- HDFC 1300 and 1350 calls and puts were so active, we may see buying above 1250 level.
- INFOSIS 1160 puts were so active today, we may see more selling below 1160.
STOCKS TO WATCH
VOLTAS:
BUY VOLTAS ABOVE 260 FOR THE TARGET OF 275/285, BELOW 260 MAJOR SUPPORT WILL BE 248.
UPL:
Keep selling but only on rise 440/400 levels are waiting………
TATASTEEL:
Buy TATASTEEL above 220 for the target of 235/250, below 220 major support will be 209.
Top PICKS OF THE DAY
• GAIL ABOVE….? TGT…..?STOP LOSS……?
• SELL ICICI BANK BELOW…..?...TARGET….?..STOPLOSS…?
• SELL ONGC BELOW….? STOCK MAY SHOW 190/210 LEVEL IN COMING DAYS WITH STOP LOSS…?
