Nifty Market Trends For Today

Nifty levels:  

Nifty spot close @8375

Nifty future close @8382

Today’s view on Nifty

Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8300 below that level we may see fresh short position. We have seen intense volatility today, we may see now lower level buying.

Bank Nifty levels:  

Bank nifty spot close @18323

Bank nifty future close @18332

View on Bank nifty

Bank nifty closed around its support level, that is 18300, we may see buying from lower level, once close above 18300, below 18300 major support levels will be 18150.

MARKET COMMENTERY

IT stocks led gains for key benchmark indices. The market sentiment improved as crude oil prices extended recent losses. Brent crude oil futures edged lower on persistent worries about a global supply glut. The decline in crude oil prices augurs well for India. Key benchmark indices remained in positive zone throughout the trading session. The market breadth indicating the overall health of the market was positive. The barometer index, the S&P BSE Sensex, was provisionally up 105.67 points or 0.38% to 27564.90. In overseas stock markets, Chinese stocks ended higher with sharp gains in the last half-hour of trading.

STOCK BUZZ

1. Metal shares edged higher. Hindustan Zinc (up 1.73%), NMDC (up 1.05%), National Aluminum Company (up 0.98%), Steel Authority of India (up 0.95%), Hindalco Industries (up 0.66%), Tata Steel (up 0.38%) and Hindustan Copper (up 0.09%), edged higher. JSW Steel (down 0.06%), Jindal Steel & Power (down 0.07%) and Bhushan Steel (down 0.69%), edged lower.

2. Vedanta rose 0.97% to Rs 129.70. The company's consolidated profit after tax (PAT) before exceptional items fell 35% to Rs 866 crore on 1% decline in net sales/income from operations to Rs 16952 crore in Q1 June 2015 over Q1 June 2014. The result was announced at the fag end of the trading session today, 29 July 2015.

HOT PURSUIT

1. Meanwhile, India's weather office, the India Meteorological Department (IMD), said in its daily monsoon update issued yesterday, 28 July 2015, that the Southwest Monsoon was vigorous over West Rajasthan and Gujarat state and was active over Gangetic West Bengal, Odisha, Jharkhand, East Rajasthan and West Madhya Pradesh during past 24 hours until 8:30 IST.

2. Chinese stocks edged higher with sharp gains in the last half-hour of trading. In mainland China, the Shanghai Composite jumped 3.44%. In Hong Kong, the Hang Seng index rose 0.47%. China's securities watchdog has decided to investigate whether a coordinated dumping of shares sparked the selloff in Chinese stocks on Monday, 27 July 2015. The Shanghai Composite Index had plunged 8.5% on Monday, 27 July 2015, marking its biggest one day drop in more than eight years.

OPTION STRATEGY

1. In today’s session we have seen call buying in nifty 8400/8500 call so we can consider that nifty will show good buying in coming days.

2. ACC calls and puts were so active, we have seen heavy put writing in 1300 and 1280 puts so in near future we may 1280 level as a major support level for the stock. 

3. RELIANCE 1020/1040 calls were so active today, we have seen good rally in the stock, more rally is expected above 1000. 

STOCKS TO WATCH

TATAMOTORS:  

Sell TATAMOTORS as remain below 390 we may see 350/340 level in coming days, above 390 major resistances will be 405.

APOLLOTYRE

Buy APOLLOTYRE above 198 stock may show 210/215 level, remain below 198 more down side is expected.

CAIRN: 

Sell CAIRN below 175 we may see 162/155 levels remain below 175 levels.

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…?

BANK NIFTY AND NIFTY MARKRT TRENDS

Nifty levels:  

Nifty spot close @8337

Nifty future close @8356

Today’s view on Nifty

Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8350 below that level we may see fresh short position. We have seen intense volatility today, we may see now lower level buying and short covering is expected above.

Bank Nifty levels:  

Bank nifty spot close @18282

Bank nifty future close @18328

View on Bank nifty  

Remain below 18300 more weakness is expected, though we may see short covering from lower level but below 18300 no buying.

MARKET COMMENTERY

Index heavyweight and housing finance major HDFC led losses for key benchmark indices. Shares of the housing finance major edged lower after the company reported a muted growth in bottom line in Q1 June 2015. The barometer index, the S&P BSE Sensex, was provisionally off 102.76 points or 0.37% to 27,458.62. The market breadth indicating the overall health of the market turned negative from positive in late trade. The market sentiment was edgy after the latest data showed that foreign portfolio investors (FPIs) pressed sales of Indian stocks yesterday, 27 July 2015.

STOCK BUZZ

1. HDFC fell 2.64% to Rs 1,300. The company's net profit rose 1.21% to Rs 1360.98 crore on 9.39% rise in total income to Rs 7068.28 crore in Q1 June 2015 over Q1 June 2014. The result was announced during market hours today, 28 July 2015. On consolidated basis, HDFC's net profit rose 17.69% to Rs 2204.29 crore on 13.76% growth in total income to Rs 11440.62 crore in Q1 June 2015 over Q1 June 2014.

2. Most power generation stocks declined. JSW Energy (down 7.45%), Jaiprakash Power Ventures (down 3.92%), Reliance Power (down 1.86%), GMR Infrastructure (down 1.79%), Torrent Power (down 1.16%), Adani Power (down 0.37%), Tata Power (down 0.14%), edged lower. Reliance Infrastructure (up 0.14%), CESC (up 0.26%), NHPC (up 0.27%) and NTPC (up 2.13%) edged higher.

HOT PURSUIT

1. Meanwhile, Reserve Bank of India (RBI) Governor Raghuram Rajan reportedly said yesterday, 27 July 2015, that inflation targets should not be changed every three years as that would mean changing goal posts as soon as the system starts to internalize it. The RBI governor's comments follow the release of a new draft of the proposed Indian Financial Code which suggested that inflation targets should be reset every three years following consultations between the government and the RBI. The draft also suggested setting up a seven-member monetary policy committee (MPC) which would have four members appointed by the government. An earlier proposal to give the RBI governor veto power over decisions of the MPC has also been removed.

2. Meanwhile, India's weather office, the India Meteorological Department (IMD), said in its daily monsoon update issued yesterday, 27 July 2015, that the Southwest Monsoon was vigorous over Rajasthan and Gujarat state and was active over Gangetic West Bengal, Odisha and West Madhya Pradesh during the past 24 hours until 8:30 IST.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8600 call so we can consider this as a strong resistance.

2. MARUTI calls and puts were so active, we have seen heavy put writing in 4200 and 4100 puts so in near future we may see selling pressure in the stock once it remain below 4200. 

3. RELIANCE 1020/1040 calls were so active today, we have seen good rally in the stock, more rally is expected above 1000. 

STOCKS TO WATCH

TATAMOTORS:  

Sell TATAMOTORS as remain below 390 we may see 350/340 level in coming days, above 390 major resistances will be 405.

CEAT

Buy CEAT above 800 stock may show 840/850 level, remain below 800 more down side is expected.

CAIRN: 

Sell CAIRN below 175 we may see 162/155 levels remain below 175 levels.

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…?

NIFTY & BANK NIFTY MARKET TRENDS

Nifty levels:  

Nifty spot close @8361

Nifty future close @8369

Today’s view on Nifty

Buy only above 8500 level, remain below that we may see more weakness, major support level will be 8350 below that level we may see fresh short position.

Bank Nifty levels: 

Bank nifty spot close @18232

Bank nifty future close @18268

View on Bank nifty  

  

Remain below 18300 more weakness is expected, though we may see short covering from lower level but below 18300 no buying.

MARKET COMMENTERY

A sharp setback in Chinese stocks and fears that the stock market regulator Securities and Exchange Board of India (Sebi) may tighten rules on Participatory Notes (PNs) in the wake of a report by a special investigations team on black money hit sentiment on the domestic bourses adversely. PNs are a popular offshore derivative instrument used by foreign portfolio investors to invest in Indian stocks. The barometer index, the S&P BSE Sensex, hit four 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 Sensex fell below the psychological 28,000 mark. The market breadth indicating the overall health of the market was weak. The Sensex was provisionally off 550.93 points or 1.96% at 27,561.38. The BSE Mid-Cap index lost 1.38%. The BSE Small-Cap index fell 1.07%. All the 12 sectoral indices on BSE ended lower today, 27 July 2015. In overseas markets, Chinese stocks tumbled as new capital inflows from authorities appeared to slow.

STOCK BUZZ

1. Reliance Industries' (RIL) fell 2.15% at Rs 1,003. The stock hit a high of Rs 1,035 and a low of Rs 1,001.30 in intraday trade. The company's consolidated net profit rose 4.44% to Rs 6222 crore on 25.93% decline in total income to Rs 78962 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours on Friday, 24 July 2015. Decline in revenue was led by the 43.5% decline in benchmark (Brent) oil price in Q1 June 2015 over Q1 June 2014.

2. Metal shares declined. Tata Steel (down 5.15%), Hindalco Industries (down 4.36%), JSW Steel (down 3.7%), Vedanta (down 3.05%), Bhushan Steel (down 2.89%), NMDC (down 2.64%), Hindustan Copper (down 2.41%), Steel Authority of India (down 2.41%), Jindal Steel & Power (down 1.78%) and National Aluminum Company (down 1.75%) edged lower. Hindustan Zinc was up 0.18%.

HOT PURSUIT

1. Finance Minister Arun Jaitley reportedly said today, 27 July 2015, that the government will not react in a knee-jerk manner on a report by a special investigations team that suggested greater oversight of money laundering in stocks. Jaitley, however, said the government would apply its mind on the recommendations of the Supreme Court-appointed team in due course and would avoid any decision that could hurt investor sentiment, reports added. The Special Investigation Team (SIT) tasked with curbing black money has in its Third SIT Report submitted to the finance ministry has called for identification of beneficial ownership of Participatory Notes (PN).

2. Chinese stocks tumbled today, 27 July 2015, as new capital inflows from authorities appeared to slow. A state-owned fund called China Securities Financial Corp. had reportedly spent hundreds of billions of yuan in supporting the Chinese market after a steep slide in Chinese stocks market in the recent past. In mainland China, the Shanghai Composite index plunged 8.48%. In Hong Kong, the Hang Seng index shed 3.09%. 

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8600 callso we can consider this as a strong resistance.

2. TECHM calls were so active, we have seen good rally in stock more upside is expected as remain above 500, we may see 530/550 level in coming days. 

3. SBIN 260/250 PUTS were so active, more sell side is expected, major resistance for the stock will be 277 once close above this level we may see 290/300 level. 

STOCKS TO WATCH

BAJAJAUTO:  

Buy BAJAJ AUTO above 2490 stocks may show some good rally we may see 2550/2570 level in coming days.

CEAT

Buy CEAT above 760 stock may show 790/800 level, remain below 760 more down side is expected.

CAIRN: 

Sell CAIRN below 175 we may see 162/155 levels remain below 175 levels.

TOP PICKS OF THE DAY

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

2. BUY ICICI BANK ABOVE…..?...TARGET….?..STOPLOSS…?

3. SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?

Bank Nifty Market Trends 27-July

Nifty levels:  

Nifty spot close @8521

Nifty future close @8540

Today’s view on Nifty

Nifty future closed around its suppot level, no selling remain above 8520 keep buying, we may see buying from lower level.

Bank Nifty levels:  

Bank nifty spot close @18640

Bank nifty future close @18895

View on Bank nifty

Profit booking is expected from upper level, keep buy on dips. No selling above 18300 please.  

MARKET COMMENTERY

Key benchmark indices dropped sharply on last trading day of the week. After trading with small losses in first half of the day's trade, key benchmark indices extended fall and hit fresh intraday low in late trade. The barometer index, the S&P BSE Sensex was provisionally off 229.67 points or 0.81% at 28,141.17. The market breadth indicating the overall health of the market was negative. Key benchmark indices edged lower today, 24 July 2015, as complete washout of Lok Sabha proceedings in the first week of the monsoon session, because of a political tussle between the National Democratic Alliance (NDA) government and the Congress party triggered concerns about the passage of key reform bills.

STOCK BUZZ

1. Axis Bank's gross non-performing assets on absolute basis edged higher to Rs 4251.18 crore as on 30 June 2015 from Rs 4110.19 crore as on 31 March 2015 and Rs 3463.27 crore as on 30 June 2014. The ratio of gross non-performing assets to gross advances stood at 1.38% as on 30 June 2015, higher than 1.34% each as on 31 March 2015 and 30 June 2014. The ratio of net non-performing assets to net advances stood at 0.48% as on 30 June 2015, higher than 0.44% each as on 31 March 2015 and 30 June 2014.

2. ABB India's revenue rose 6.03% to Rs 1932 crore in Q2 June 2015. The company said the growth in revenue was on account of efficient execution and conversion of order backlog across divisions. ABB India said that over the years, the company's initiatives towards operational excellence have been yielding results, fortifying profit margins.

HOT PURSUIT

1. Meanwhile, the Ministry of Water Resources said today, 24 July 2015, that water storage available in 91 important reservoirs of the country as on 16 July 2015 was 58.96 billion cubic metres (BCM) which is 37% of total storage capacity of these reservoirs. This storage is 115% of the storage of corresponding period of last year and 108% of storage of average of last ten years. The present storage position during current year is better than the storage position of last year and is also better than the storage of average of last ten years. The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country.

2. Greece yesterday, 23 July 2015 reportedly moved another step closer to receiving its third bailout package, after the country's parliament approved a second set of economic overhauls required by lenders. The legislative approval is a precondition by the Greece's international creditors for starting official negotiations on the 86-billion-euro ($94.51 billion) aid program, aimed at helping the country stave off a debt default and get back on an economic-growth track.

OPTION STRATEGY

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

2. RELIANCE 1020/1000 calls were so active, we have seen good rally in stock more upside is expected as remain above 1020, we may see 1100/1120 level in coming days. 

3. AXIS BANK 590/600 calls were so active, more buy side is expected, major resistance for the stock will be 611 once close above this level we may see 630/640 level. 

STOCKS TO WATCH

TATAMOTORS:  

Buy TATAMOTORS above 395 stock may show some good rally we may see 410/420 level in coming days.

CEAT

Buy CEAT above 760 stock may show 790/800 level, remain below 760 more down side is expected.

ACC: 

Sell ACC below 1460 we may see 1420/1390 level as remain below 1460 levels.

TOP PICKS OF THE DAY

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

• BUY ICICI BANK ABOVE…..?...TARGET….?..STOPLOSS…?

• SELL VOLTAS BELOW….? STOCK MAY SHOW 290/280 LEVEL IN COMING DAYS WITH STOP LOSS…?