Nifty levels:
Nifty spot close @7799
Nifty future close @7802
Today’s view on Nifty Tips
As we have already suggested free fall will be seen once nifty break 8200 level, same thing happened today, we hope you have follow our strategy and earn good profit. As per the global scenario more selling is expected, but sell on rise will be the best strategy.
Bank Nifty levels:
Bank nifty spot close @16811
Bank nifty future close @18044
View on Bank nifty
Banknifty selling opportunity below 18300 we may see 17700/17500 level in coming days. Major support zone will be 17500-17650.
MARKET COMMENTERY
A sell off in oil, banking and metal shares led the carnage on the domestic bourses. The barometer index, the S&P BSE Sensex, tanked more than 6%, as per provisional closing data. The 50-unit CNX Nifty plunged 5.92%, as per provisional closing data. The Sensex hit its lowest level in more than a year. The Nifty hit its lowest level in more than 10 months. The Nifty ended below the psychological 8,000 mark, as per provisional closing data. Earlier, the Nifty had regained the psychological 8,000 mark after falling below that level at the onset of the trading session. The Sensex ended below the psychological 26,000 level, as per provisional closing data. Earlier, the Sensex had fallen below the psychological 27,000 at the onset of the trading session. The sharp setback on the Indian bourses was triggered by a rout in Asian stocks.
STOCK BUZZ
1. Metal and mining stocks dropped on concerns about slowdown in China's economic growth. Hindustan Zinc (down 12.9%), Bhushan Steel (down 12.28%), Tata Steel (down 12.16%), Steel Authority of India (down 8.94%), Hindalco Industries (down 8.31%), JSW Steel (down 8.31%), Hindustan Copper (down 8.15%), Jindal Steel & Power (down 4.1%) and National Aluminum Company (down 3.12%), edged lower. NMDC was up 0.64%. China is the world's largest consumer of copper, aluminum and steel.
2. Banks stocks declined. Among PSU banks, Bank of India (down 15.32%), UCO Bank (down 15.07%), IDBI Bank (down 13.79%), Central Bank of India (down 13.34%), Andhra Bank (down 13.03%), Syndicate Bank (down 13.02%), Union Bank of India (down 12.84%), Canara Bank (down 12.73%), Punjab National Bank (down 10.65%), Bank of Baroda (down 8.17%), State Bank of India (down 7.85%), Indian Bank (down 7.74%), Punjab and Sind Bank (down 7.24%), Vijaya Bank (down 7.13%), Corporation Bank (down 6.92%), United Bank of India (down 6.74%), Allahabad Bank (down 5.85%), Dena Bank (down 4.13%) and Bank of Maharashtra (down 3.27%), edged lower.
HOT PURSUIT
1. Meanwhile, Reserve Bank of India Governor Raghuram Rajan was quoted as saying at a banking conference today, 24 August 2015, that the RBI has no hesitation in using the foreign exchange reserves when appropriate to reduce volatility in the rupee. India has steadily built up its foreign exchange reserves to a record high of more than $355 billion since Rajan took the helm of the RBI in September 2013, when the rupee was in the midst of its worst crisis in more than two decades.
2. Chinese stocks led a sell-off in Asian markets today, 24 August 2015, as fears about the deepening effects of a slowdown in China's economy rattled investors. In mainland China, the Shanghai Composite lost 8.49%. In Hong Kong, the Hang Seng index lost 5.17%. The sharp setback in Chinese stocks materialized as China's central bank failed to take expected action over the weekend to provide more support for the financial system. China's surprise move to devalue its yuan two weeks ago — which could make its exports more competitive — and a string of weak data signal the economy may be feebler than expected, despite a campaign to rev up growth including interest rate cuts and measures to boost lending.
OPTION STRATEGY
1. In today’s session we have seen call writing in 8000 and 7800 strike price, we may see 8000 as a strong resistance level in coming days.
2. SBIN 250 and 260 calls and puts were so active, we may see selling below 260 level.
3. DLF 100/110 puts were so active today, we may see more selling as remain below 100.
STOCKS TO WATCH
LUPIN:
Sell Lupin below 1820 stock may show 1780/1750 level in coming days.
VEDANTA:
Keep selling but only on rise 60/50 levels are waiting………
NMDC:
Sell NMDC below 94 for the target of 85/80 in coming days, keep sell on rise.
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 250/230 LEVEL IN COMING DAYS WITH STOP LOSS…?
Nifty spot close @7799
Nifty future close @7802
Today’s view on Nifty Tips
As we have already suggested free fall will be seen once nifty break 8200 level, same thing happened today, we hope you have follow our strategy and earn good profit. As per the global scenario more selling is expected, but sell on rise will be the best strategy.
Bank Nifty levels:
Bank nifty spot close @16811
Bank nifty future close @18044
View on Bank nifty
Banknifty selling opportunity below 18300 we may see 17700/17500 level in coming days. Major support zone will be 17500-17650.
MARKET COMMENTERY
A sell off in oil, banking and metal shares led the carnage on the domestic bourses. The barometer index, the S&P BSE Sensex, tanked more than 6%, as per provisional closing data. The 50-unit CNX Nifty plunged 5.92%, as per provisional closing data. The Sensex hit its lowest level in more than a year. The Nifty hit its lowest level in more than 10 months. The Nifty ended below the psychological 8,000 mark, as per provisional closing data. Earlier, the Nifty had regained the psychological 8,000 mark after falling below that level at the onset of the trading session. The Sensex ended below the psychological 26,000 level, as per provisional closing data. Earlier, the Sensex had fallen below the psychological 27,000 at the onset of the trading session. The sharp setback on the Indian bourses was triggered by a rout in Asian stocks.
STOCK BUZZ
1. Metal and mining stocks dropped on concerns about slowdown in China's economic growth. Hindustan Zinc (down 12.9%), Bhushan Steel (down 12.28%), Tata Steel (down 12.16%), Steel Authority of India (down 8.94%), Hindalco Industries (down 8.31%), JSW Steel (down 8.31%), Hindustan Copper (down 8.15%), Jindal Steel & Power (down 4.1%) and National Aluminum Company (down 3.12%), edged lower. NMDC was up 0.64%. China is the world's largest consumer of copper, aluminum and steel.
2. Banks stocks declined. Among PSU banks, Bank of India (down 15.32%), UCO Bank (down 15.07%), IDBI Bank (down 13.79%), Central Bank of India (down 13.34%), Andhra Bank (down 13.03%), Syndicate Bank (down 13.02%), Union Bank of India (down 12.84%), Canara Bank (down 12.73%), Punjab National Bank (down 10.65%), Bank of Baroda (down 8.17%), State Bank of India (down 7.85%), Indian Bank (down 7.74%), Punjab and Sind Bank (down 7.24%), Vijaya Bank (down 7.13%), Corporation Bank (down 6.92%), United Bank of India (down 6.74%), Allahabad Bank (down 5.85%), Dena Bank (down 4.13%) and Bank of Maharashtra (down 3.27%), edged lower.
HOT PURSUIT
1. Meanwhile, Reserve Bank of India Governor Raghuram Rajan was quoted as saying at a banking conference today, 24 August 2015, that the RBI has no hesitation in using the foreign exchange reserves when appropriate to reduce volatility in the rupee. India has steadily built up its foreign exchange reserves to a record high of more than $355 billion since Rajan took the helm of the RBI in September 2013, when the rupee was in the midst of its worst crisis in more than two decades.
2. Chinese stocks led a sell-off in Asian markets today, 24 August 2015, as fears about the deepening effects of a slowdown in China's economy rattled investors. In mainland China, the Shanghai Composite lost 8.49%. In Hong Kong, the Hang Seng index lost 5.17%. The sharp setback in Chinese stocks materialized as China's central bank failed to take expected action over the weekend to provide more support for the financial system. China's surprise move to devalue its yuan two weeks ago — which could make its exports more competitive — and a string of weak data signal the economy may be feebler than expected, despite a campaign to rev up growth including interest rate cuts and measures to boost lending.
OPTION STRATEGY
1. In today’s session we have seen call writing in 8000 and 7800 strike price, we may see 8000 as a strong resistance level in coming days.
2. SBIN 250 and 260 calls and puts were so active, we may see selling below 260 level.
3. DLF 100/110 puts were so active today, we may see more selling as remain below 100.
STOCKS TO WATCH
LUPIN:
Sell Lupin below 1820 stock may show 1780/1750 level in coming days.
VEDANTA:
Keep selling but only on rise 60/50 levels are waiting………
NMDC:
Sell NMDC below 94 for the target of 85/80 in coming days, keep sell on rise.
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 250/230 LEVEL IN COMING DAYS WITH STOP LOSS…?
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