Nifty and Bank Nifty News Summary For Today

Nifty levels:  

Nifty spot close @8453

Nifty future close @8454

Today’s view on Nifty

   

Profit booking from upper level will be seen today, but keep buy on dips, we may see 8500 as a resistance level, and 8370 as a support level for nifty.    

Bank Nifty levels:  

Bank nifty spot close @18606

Bank nifty future close @18550

View on Banknifty  

Good recovery from lower level buys above 18400 for the target of 18800-18900.

MARKET COMMENTERY

Banking and IT stocks led gains as key benchmark indices edged higher after a report that Greek Prime Minister Alexis Tsipras is ready to accept the creditors' bailout terms. A bout of volatility was witnessed in late trade as benchmark indices trimmed gains after extending intraday gains. The barometer index, the S&P BSE Sensex, trimmed gains after hitting its highest level in more than ten weeks. The 50-unit CNX Nifty trimmed gains after hitting its highest level in almost six weeks. The Sensex provisionally closed above the psychological 28,000 mark after alternately moving above and below that level in intraday trade. The Sensex hit the psychological 28,000 mark today, 1 July 2015, for the first time in almost 6 weeks.

STOCK BUZZ

1. Kotak Mahindra Bank rose 1.86% after the bank reduced its base rate to 9.75% per annum from 9.85% per annum with effect from 2 July 2015. All categories of loans (other than the exceptions permitted by the Reserve Bank of India) will be priced with reference to the revised base rate, Kotak Mahindra Bank said. The bank made announcement during market hours today, 1 July 2015.

2. Mahindra & Mahindra (M&M) rose 0.62%. M&M said its total auto sector sales fell 6% to 36,134 units in June 2015 over June 2014. Total domestic sales fell 9% to 33,282 units in June 2015 over June 2014. Total exports rose 42% to 2852 units in June 2015 over June 2014. The sales figure was announced during trading hours today.

HOT PURSUIT

1. Meanwhile, Growth in India's manufacturing sector output eased last month as new orders rose at weaker rate, according to a monthly survey released by Markit Economics today, 1 July 2015. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) dropped to 51.3 in June 2015 from 52.6 in May 2015. Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Economist at Markit and author of the report, said that new business expanded at a noticeably weaker pace, in part reflecting a loss of momentum in export business. Moreover, manufacturers remained in cautious spirits and employment numbers were unchanged once again. 

2. Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 30 June 2015, that the Southwest Monsoon was vigorous over East Uttar Pradesh and active over Arunachal Pradesh, Uttarakhand and East Madhya Pradesh during the past 24 hours until 8:30 IST.

OPTION STRATEGY

1. In today’s session we have seen call buying in nifty 8300 call so we can consider this as a strong support.

2. RELIANCE 1020 & 1050 CALLS were so active, stock is really in bullish move more rally is expected up to 1050. 

3. ZEEL 350 calls were in action today, stock showed us gain from lower level, more buying above 350. 

STOCKS TO WATCH

TITAN:  

Buy TITAN above 360 stocks may show 375-380 in coming days.

ITC:

Buy ITC above 310 stock may show 320/330 in coming days. Below 310 major resistances will be 303.

SBIN: 

Buy SBIN as remain above 263 stock may show 280/290 level in coming days, below 263 major support 254.

TOP PICKS OF THE DAY

1. BUY ONGC ABOVE….? TGT…..?STOP LOSS……?

2. BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL AMBUJA BELOW….? STOCK MAY SHOW 210/200 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty and Bank Nifty News Summary for Today 01- July-2015

Nifty levels:  

Nifty spot close @8368

Nifty future close @8381

Today’s view on Nifty

Intense volatility we have seen today, but 1 best strategy buy on dips as we have already stated. Buy above 8200 we may see some good levels in coming days.    

Bank Nifty levels:

Bank nifty spot close @18268

Bank nifty future close @18275

View on Banknifty  

Good recovery from lower level buys above 18200 for the target of 18600-18800.

lMARKET COMMENTERY

Pharma, telecom stocks and index heavyweights ITC, Reliance Industries and HDFC led gains for key benchmark indices. Benchmark indices surged towards the fag end of the trading session after moving in a narrow range during most part of the trading session. The upmove for key indices in late trade materialised as European stocks reversed initial losses and trading in US index futures indicated a firm opening of US stocks later in the global day. European stocks reversed initial losses after a Greek newspaper reported that last-minute efforts aimed at bringing Greece and its creditors back to the negotiating table are underway. Negotiations between Greece and its creditors collapsed over the weekend after Greece's Prime Minister Alexis Tsipras on Friday, 26 June 2015, unexpectedly called for a referendum on whether to accept reform measures demanded by the country's lenders.

STOCK BUZZ

1. Bharti Airtel edged higher after the company said that it has become the third largest mobile operator in the world in terms of subscribers. IT shares were mixed. Tech Mahindra extended a steep slide registered during the previous trading session that was triggered by the company issuing a warning that the company's Q1 June 2015 results have some headwinds and tailwinds which could see a risk of marginal decline in both revenue and EBITDA (earnings before interest, taxation, depreciation and amortization) margin of the company on sequential basis.

2. Coal India rose 3.10% at Rs 421 after a foreign brokerage reportedly maintained its 'overweight' outlook on the stock. The foreign brokerage is reportedly convinced about Coal India's volume growth and pricing power and expects 31% compounded annual growth rate (CAGR) in earnings before interest, depreciation, taxation and amortization (EBITDA) over FY 2015-18.

HOT PURSUIT

1. Meanwhile, Greece is reportedly reconsidering an offer put forth by European Commission President Jean-Claude Juncker yesterday, 29 June 2015. Greek Prime Minister Alexis Tsipras was urged to reconsider Juncker's proposal by some members of his government, the report said. The country is under pressure as it faces a Tuesday deadline for a $1.72 billion repayment to the International Monetary Fund and the expiry of its bailout program the same day.

2. Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 29 June 2015, that the Southwest Monsoon was vigorous over East Uttar Pradesh and active over Arunachal Pradesh, Uttarakhand and East Madhya Pradesh during the past 24 hours until 8:30 IST.

OPTION STRATEGY

1. In today’s session we have seen call buying in nifty 8200 call so we can consider this as a strong support.

2. RELIANCE 1020 & 1050 CALLS were so active, stock is really in bullish move more rally is expected up to 1050. 

3. ZEEL 350 calls were in action today, stock showed us gain from lower level, more buying above 350. 

STOCKS TO WATCH

TITAN:  

Buy TITAN above 360 stocks may show 375-380 in coming days.

ITC: 

Buy ITC above 310 stock may show 320/330 in coming days. Below 310 major resistances will be 303.

SBIN: 

Buy SBIN as remain above 263 stock may show 280/290 level in coming days, below 263 major support 254.

TOP PICKS OF THE DAY

• BUY ONGC ABOVE….? TGT…..?STOP LOSS……?

• BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?

• SELL AMBUJA BELOW….? STOCK MAY SHOW 210/200 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty and Bank Nifty Summary For Today

Nifty levels:

Nifty spot close @8318

Nifty future close @8328

Today’s view on Nifty

Due to the global weakness nifty opens gap down, but good recovery from lower level. Buy on every dip that will be a good strategy 8400-8450 will be a immediate targets.  

Bank Nifty levels:  

Bank nifty spot close @18268

Bank nifty future close @18240

View on Banknifty

Good recovery from lower level buys above 18200 for the target of 18600-18800.

lMARKET COMMENTERY

Banking stocks and index heavyweights ITC, HDFC, L&T and Reliance Industries (RIL) led a strong intraday rebound for key benchmark indices today, 29 June 2015. Recovery on the domestic bourses began in early afternoon trade. Earlier during the trading session, equity benchmark indices in India had slumped as the collapse of Greek rescue talks roiled global markets. The strong intraday recovery on the domestic bourses materialised as global crude oil prices fell. The barometer index, the S&P BSE Sensex, was provisionally off 127.97 points or 0.46% to 27683.87. The broad market depicted weakness. There were more than two losers against every gainer on BSE. The BSE Mid-Cap index was off 1.37%. The BSE Small-Cap index was off 1.49%. The decline in both these indices was higher than the Sensex's decline in percentage terms.

STOCK BUZZ

Tech Mahindra fell 7.45% to Rs 483. In its business update, the company announced during trading hours today, 29 June 2015, that the company's Q1 June 2015 results have some headwinds and tailwinds which could see a risk of marginal decline in both revenue and EBITDA (earnings before interest, taxation, depreciation and amortization) margin of the company on sequential basis. Tech Mahindra said that a seasonally weak mobility business will be a drag on Q1 revenues and EBITDA of the company. H1 B visa costs will be another drag on margins, the company said. On the other hand, favourable currency movements could help both revenue and margins, the company said.

Index heavyweight and IT major Infosys fell 1.42% at Rs 991.85. The stock hit a high of Rs 999 and a low of Rs 980 in intraday trade. The company during trading hours today, 29 June 2015, announced the launch of Finacle SME Enable to help banks enhance support and service for their small and media enterprise (SME) customers. The first-of-its-kind, mobile-based financial and business management solution is exclusively designed to help SMEs not only experience banking services on the move, but also manage their business operations efficiently, Infosys said in a statement.

HOT PURSUIT

1. Meanwhile, the Reserve Bank of India (RBI) yesterday, 28 June 2015, clarified that RBI Governor Dr. Raghuram G. Rajan had not suggested at a London Business School conference on 25 June 2015 that the world risked sliding into another Great Depression as reported by sections of the media. The RBI clarified that what Rajan had said at that conference was that the policies followed by major central banks around the world were in danger of slipping into the kind of beggar-thy-neighbour strategies that were followed in the 1930s. Rajan called for new rules of the game in the international monetary system, a call that he has made before and is gaining some traction. The Great Depression was a period of great turmoil caused by many factors and not just beggar-thy-neighbor policies, according to the clarification issued by the RBI.

2. Foreign portfolio investors (FPIs) bought shares worth net Rs 328.20 crore from the secondary equity market yesterday, 25 June 2015, as per data from Central Depository Services (India). Domestic institutional investors (DIIs) sold shares worth a net Rs 8.45 crore yesterday, 25 June 2015, as per provisional data released by the stock exchanges.

OPTION STRATEGY

1. In today’s session we have seen call buying in nifty 8200 call so we can consider this as a strong support.

2. RELIANCE 1020 & 1050 CALLS were so active, stock is really in bullish move more rally is expected up to 1050.

3. ZEEL 350 calls were in action today, stock showed us gain from lower level, more buying above 340.

STOCKS TO WATCH

TITAN:  

Buy TITAN above 360 stock may show 370-380 in coming days.

ITC:

Sell ITC below 310 stock may show 300/295 in coming days. Above 310 major resistances will be 317.

SBIN: 

Buy SBIN as remain above 263 stock may show 280/290 level in coming days, below 263 major support 254.

TOP PICKS OF THE DAY

1. BUY ONGC ABOVE….? TGT…..?STOP LOSS……?

2. BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL AMBUJA BELOW….? STOCK MAY SHOW 210/200 LEVEL IN COMING DAYS WITH STOP LOSS…?

Nifty and Bank Nifty Summary For Today

Nifty levels:  

Nifty spot close @8381

Nifty future close @8380

Today’s view on Nifty

  

Fantastic recovery from lower level, buying opportunity in leading sectors of stock market, banking, automobile, infrastructure realty etc, we have seen 8400 level today. Slight profit booking is obvious keep buying on dips.  

Bank Nifty levels:  

Bank nifty spot close @18371

Bank nifty future close @18357

View on banknifty 

Good recovery from lower level buys above 18200 for the target of 18600-18800.

MARKET COMMENTERY

Index heavyweights HDFC, ITC, L&T and Reliance Industries (RIL) led losses for key benchmark indices on the last trading session of the week today, 26 June 2015. Key indices dropped as uncertainty surrounding a possible default and exit by debt-laden Greece from the eurozone pulled European stocks lower. The barometer index, the S&P BSE Sensex, fell 84.13 points or 0.3% to settle at 27,811.84. The losses for the Sensex were higher in percentage terms than those for the 50-unit CNX Nifty. The Nifty dropped 16.90 points or 0.2% to settle at 8,381.10. The market breadth indicating the overall health of the market was negative.

STOCK BUZZ

1. IT stocks edged higher after business consulting firm Accenture yesterday, 25 June 2015, raised its full-year revenue as well as earnings per share (EPS) forecast at the time of announcing its Q3 May 2015 results after trading hours in India yesterday, 25 June 2015. GAIL (India) dropped after a foreign brokerage reportedly maintained underperforms rating on the stock.

2. Bank stocks edged lower after the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report (FSR) June 2015 published yesterday, 25 June 2015, that while risks to India's banking sector, as reflected by the Banking Stability Indicator and Map, have moderated marginally since September 2014, concerns remain over the continued weakness in asset quality indicated by the rising trend in stressed advances ratio of scheduled commercial banks (SCBs), especially of public sector banks (PSBs).

HOT PURSUIT

1. Meanwhile, Meanwhile, Reserve Bank of India (RBI) Governor Raghuram Rajan has reportedly expressed concern that the world may be slipping into the kind of problems of the depression of the 1930s and an international consensus was needed to be built over time. Speaking at a London Business School (LBS) conference yesterday, 25 June 2015, Rajan reportedly said that the situation is different in India where RBI still needs to bring down lending rates to spur investments.

2. Foreign portfolio investors (FPIs) bought shares worth a net Rs 328.20 crore from the secondary equity market yesterday, 25 June 2015, as per data from Central Depository Services (India). Domestic institutional investors (DIIs) sold shares worth a net Rs 8.45 crore yesterday, 25 June 2015, as per provisional data released by the stock exchanges.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8500 call so we can consider this as a strong resistance.

2. RELIANCE 1020 & 1050 CALLS were so active, stock is really in bullish move more rally is expected up to 1050. 

3. ZEEL 350 calls were in action today, stock showed us gain from lower level, more buying above 340. 

STOCKS TO WATCH

CIPLA:  

Buy CIPLA above 620 stock may show 660-670 in coming days.

CAIRN:

Sell cairn below 178 stock may show 175/170 in coming days. Above 178 major resistance will be 185.

SBIN: 

Buy SBIN as remain above 263 stock may show 280/290 level in coming days, below 263 major support 254.

TOP PICKS OF THE DAY

1. BUY ONGC ABOVE….? TGT…..?STOP LOSS……?

2. BUY GAIL ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL CANBK BELOW….? STOCK MAY SHOW 295/290 LEVEL IN COMING DAYS WITH STOP LOSS…?