Closing Bell 04-Aug-2015

CS CLOSING BELL:

NIFTY SPOT DOWN 27@8516

SENSEX DOWN 115@28072

BANK NIFTY FUTURES UP 120 @19080

HAVE A NICE DAY!

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    DAILY NIFTY SMART MOVERS

SCRIPTS	PRICE		VOLUME             (IN 000’S)		PRE. CLOSE		CHANGE (%)	CHANGE (Rs.)
Bank Baroda	192.60		4409.98		152.30		26.46	40.30
PNB	160.00		5645.77		135.15		18.39	24.85
Bosch	26050.00		14.80		23097.90		12.78	2952.10
SBI	289.50		6788.56		258.45		12.01	31.05
ICICI Bank	315.05		10193.22		291.10		8.23	23.95

DAILY NIFTY TOP LAGGARDS                                      

SCRIPTS	PRICE	VOLUME (000’S)	PRE. CLOSE	CHANGE (%)	CHANGE (Rs.)
Idea Cellular	164.05	7159.11	170.80	-3.95	-6.75
Cairn India	166.35	1999.99	171.50	-3.00	-5.15
Hero MotoCorp	2621.35	1625.68	2697.10	-2.81	-75.75
ONGC	266.55	4908.37	273.65	-2.59	-7.10
GAIL India	345.20	1760.63	354.20	-2.54	-9.00

Nifty and Bank Nifty Market News

Nifty levels:  

Nifty spot close @8603

Nifty future close @8626

Today’s view on Nifty

Now we may see little profit booking from upper level, any ways we have witnessed good and strong recovery from lower level, midcap is outperforming the index, buying opportunity on dips more bullish move ahead.  

Bank Nifty levels:  

Bank nifty spot close @19032

Bank nifty future close @19159

View on Banknifty

Fresh buying seen in intraday trade, be cautious, we may see little profit booking, so make fresh buy only on dips. So keep buy we may see 19300-19400 level.

MARKET COMMENTERY

Key benchmark indices registered small losses in the first trading session of the week today, 20 July 2015. Key indices pared intraday losses towards the last one hour or so of the trading session. Key indices once again extended losses towards the close of the trading session. The barometer index, the S&P BSE Sensex was provisionally off 54.89 points or 0.19% to 28,408.42. The 50-unit CNX Nifty was provisionally off 6.40 points or 0.07% at 8,603.45. The decline in the Nifty in percentage terms was lower than the Sensex's decline on provisional basis as cement stocks viz. UltraTech Cement, Ambuja Cements and Grasim Industries which are part of Nifty but are not in Sensex edged higher. The market breadth indicating the overall health of the market was positive.

STOCK BUZZ

Cement stocks edged higher. UltraTech Cement shrugged off weak Q1 earnings. ACC dropped after the company reported weak Q2 numbers after market hours on Friday, 17 July 2015. Punjab National Bank (PNB) dropped on reports that a foreign brokerage has reiterated its 'underweight' stance on the stock.

Punjab National Bank (PNB) dropped on reports that a foreign brokerage has reiterated its 'underweight' stance on the stock. The stock was off 2.94% at Rs 140.55. The brokerage reportedly said that elevated credit costs of PNB will likely keep re-rating at bay and reverting back to historical high profitability would be very difficult. The brokerage further added that given the weakness in PNB's balance sheet, one should expect further cuts.

HOT PURSUIT

Meanwhile, India's weather office, the India Meteorological Department (IMD), said in its daily monsoon update issued yesterday, 19 July 2015, that the Southwest Monsoon was vigorous over Nagaland, Manipur, Mizoram & Tripura and West Madhya Pradesh and active over Haryana, Chandigarh & Delhi, South Interior Karnataka and Kerala during 24 hours ending until 8:30 IST.

Meanwhile, the Ministry of Water Resources announced in its weekly report issued after trading hours on Friday, 17 July 2015, that the water storage available in 91 important reservoirs of the country was 51.22 BCM as on 16 July 2015, which is 33% of total storage capacity of these reservoirs. This storage is 133% of the storage of corresponding period of last year and 112% 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.

OPTION STRATEGY

In today’s session we have seen call buying in nifty 8400 call so we can consider this as a strong support.

AMBUJA 250 & 260 CALLS were so active, stock is really in bullish move more rally is expected up to 260. 

ACC 1450 PUTS were in action today, stock showed us short position from upper level, more selling below 1460. 

STOCKS TO WATCH

CROMPTON GREVES: 

Buy CROMPTON GREVE above 186 stocks may show 210/220 in coming days, Below 186 major support will be 175.

ITC:

Buy ITC as remain above 314 we may see some good move. Buy only above 314.

TVSMOTORS: 

Buy TVSMOTORS as remain above 260 stock may show 270/280 level in coming days, below 260 major support 252.

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…?

Nifty News For Today 06- June- 2015

Nifty levels:  

Nifty spot close @8485

Nifty future close @8495

Today’s view on Nifty

Good recovery from lower level keep buying 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 @18529

Bank nifty future close @18750

View on Banknifty  

Buy as remain above 18400, consolidation seen from upper level, so be cautious we may see profit booking. No sell keep buy on dips.

MARKET COMMENTERY

Banking stocks and index heavyweight HDFC led gains for key benchmark indices on the last trading session of the week today, 3 July 2015. The barometer index, the S&P BSE Sensex, regained the psychological 28,000 level. A small decline had pushed the Sensex below the psychological 28,000 level yesterday, 2 July 2015. The market breadth indicating the overall health of the market was positive. The Sensex provisionally rose 145.33 points or 0.52% to 28,091.13. Metal shares declined.

STOCK BUZZ

1. Most PSU banks stocks edged higher. Union Bank of India (up 4.67%), Central Bank of India (up 2.36%), Vijaya Bank (up 1.22%), Bank of India (up 0.95%), Syndicate Bank (up 0.85%), Canara Bank (up 0.67%), United Bank of India (up 0.62%), Bank of Baroda (up 0.60%), State Bank of India (up 0.50%), Punjab National Bank (up 0.32%), Allahabad Bank (up 0.28%), IDBI Bank (up 0.16%) and Indian Bank (up 0.04%), edged higher. UCO Bank (down 0.28%), Corporation Bank (down 0.39%), Punjab and Sind Bank (down 0.47%), Andhra Bank (down 0.72%) and Bank of Maharashtra (down 2.07%) edged lower.

2. Metal shares declined. Steel Authority of India (down 2.32%), Vedanta (down 2.01%), JSW Steel (down 1.97%), Bhushan Steel (down 1.83%), Hindustan Zinc (down 1.46%), Tata Steel (down 1.12%), Hindustan Copper (down 0.71%), Hindalco Industries (down 0.45%) and National Aluminum Company (down 0.13%) edged lower. NMDC was up 0.17%.

HOT PURSUIT

1. Meanwhile, the Reserve Bank of India (RBI) Governor Dr. Raghuram G. Rajan yesterday, 2 July 2015, said that the Indian economy was recovering and there were signs of capital investments picking up. Rajan said that the government was trying to put stalled projects back on track. He said that the monsoon, thus far, was above normal. Exports were relatively weak and the weakness was on account of global factors. The RBI governor said that the RBI will continue to do spade work for sustainable growth in the coming year. The RBI governor was speaking to the media after the conclusion of a meeting of the Central Board of Reserve Bank of India in Chennai.

2. The IMD expects rainfall to be above normal over northwest, central and over some parts of east India during the period from 6 to 10 July 2015. Rainfall activity may remain above normal over west India during 11-15 July 2015 and over northern plains during 16-20 July 2015, as per IMD's Extended Range Forecast. The IMD has forecast below normal rainfall activity over interior Peninsular India.

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. AMBUJA 240 calls were in action today, stock showed us gain from lower level, more buying above 230. 

STOCKS TO WATCH

TITAN:  

Buy TITAN above 360 stocks may show 375-380 in coming days, Below 360 major support will be 353.

TATASTEEL:

Sell TATASTEEL as remain below 300 we may see some new lows. Buy only above 300.

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 Movement for Today

Nifty levels:

Nifty spot close @8444

Nifty future close @8438

Today’s view on Nifty

rofit 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 @18585

Bank nifty future close @18550

View on Banknifty

Buy as remain above 18400, consolidation seen from upper level, so be cautious we may see profit booking. No sell keep buy on dips.

Market Commentary

MARKET COMMENTERY

Key benchmark indices edged lower amid a divergent trend among various index constituents. The barometer index, the S&P BSE Sensex, fell below the psychological 28,000 level, as per provisional closing data. The Sensex alternately moved above and below the psychological 28,000 level in intraday trade. 

A rally took the Sensex past the psychological 28,000 level yesterday, 1 July 2015. The Sensex was provisionally off 79.38 points or 0.28% to 27,941.49. The market breadth indicating the overall health of the market was positive.

STOCK BUZZ

1. Bharti Airtel rose 1.74%. Bharti Airtel before market hours today, 2 July 2015, announced that as on date the company has completed the sale of tower assets in 5 African countries. The agreements for the sale of tower assets in two African countries have lapsed. The process for the sale of tower assets in 6 African countries is currently on and that the management hopes to have the finality in the coming few months on the transactions proposed, subject to availability of all approvals and completion of the conditions precedent. The total proceeds from the transactions already concluded are over $1.3 billion which would be utilised for reducing the debt.

2. Most private sector banks rose. Federal Bank (up 2.70%), Kotak Mahindra Bank (up 1.93%), Axis Bank (up 0.62%), City Union Bank (up 0.49%), Yes Bank (up 0.27%) and ICICI Bank (up 0.19%), edged higher. IndusInd Bank (down 0.6%) and HDFC Bank (down 1.42%), edged lower.

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, 2 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. For the country as a whole, the cumulative rainfall during this year's monsoon season was 13% above the Long Period Average (LPA) until 1 July 2015. Region wise, the southwest monsoon was 28% above the LPA in Northwest India, 20% above the LPA in Central India, 15% above the LPA in South Peninsula and 1% below the LPA in East & Northeast India until 1 July 2015.

OPTION STRATEGY

1. In today’s session e ha e 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. AMBUJA 240 calls were in action today, stock showed us gain from lower level, more buying above 230.

STOCKS TO WATCH

TITAN:

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

major support will be 353.

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 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…?

Bank Nifty Market OutLook

Nifty levels:  

Nifty spot close @8398

Nifty future close @8399

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 @18492

Bank nifty future close @18497

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

lMARKET COMMENTERY

 A Capital goods stocks and index heavyweights led gains for the key benchmark indices. The barometer index, the S&P BSE Sensex, hit its highest level in nearly five weeks and the 50-unit CNX Nifty hit its highest level in more than three weeks as a bout of volatility was witnessed in late trade. The market breadth indicating the overall health of the market was positive. The Sensex was provisionally up 204.27 points or 0.74% at 27,933.94. The gains in the Sensex in percentage terms were markedly higher than those for the 50-unit CNX Nifty. The Nifty was provisionally up 37.15 points or 0.44% at 8,398. In overseas markets, European stocks reversed initial losses and trading in US index futures indicated a firm opening of US stocks later in the global day.

STOCK BUZZ

1. Shares of Vedanta and Cairn India edged higher after these two companies yesterday, 24 June 2015, filed the Scheme of Arrangement along with other requisite documents with BSE and the NSE for approval of the stock exchanges. Shares of Vedanta were up 1.99% at Rs 179.50. The stock hit a high of Rs 182.05 and a low of Rs 175 in intraday trade.

2. Tech Mahindra dropped on reports that a foreign brokerage has maintained its 'underweight' stance on the stock. The stock was off 1.72% at Rs 544.10. The stock hit a high of Rs 552 and a low of Rs 542 in intraday trade. The foreign brokerage reportedly said that growth challenges in Tech Mahindra's telecom industry vertical and its weak enterprise business will lead to lower earnings. The company's margins will surprise the consensus negatively going ahead, the brokerage added.

HOT PURSUIT

1. Meanwhile, speaking at the launch of three major urban development initiatives viz. AMRUT (Atal Mission for Rejuvenation and Urban Transformation), Smart Cities Mission and Housing for All (Urban) at Vigyan Bhawan in New Delhi, Modi today, 25 June 2015, said that urbanization should be viewed as an opportunity and urban centres should be viewed as growth engines. Through AMRUT, the aim of the government is to give cities themselves the chance to plan their future growth, Modi said. The Prime Minister said urban and rural development in India should be complimentary. One way of doing this was to ensure waste water management in urban areas, so that the treated water could be returned to rural areas for irrigation. Similarly, solid waste management could generate compost which could act as organic fertiliser for the surrounding rural areas.

2. Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 24 June 2015, that the southwest monsoon has further advanced into most parts of north Arabian Sea, Gujarat state, some more parts of Madhya Pradesh and East Uttar Pradesh, remaining parts of Bihar, most parts of Himachal Pradesh and Uttarakhand, entire Jammu & Kashmir and some parts of Punjab and East Rajasthan. Conditions are favourable for further advance of southwest monsoon into remaining parts of Arabian sea and entire country during next 48 hours, the IMD said. The southwest monsoon was vigorous over Saurashtra & Kutch and Madhya Maharashtra and active over Gangetic West Bengal, Jharkhand, Gujarat Region, Konkan & Goa and South interior Karnataka during past 24 hours until 8:30 IST, the IMD said.

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.

AMBUJA:

Buy AMBUJA CEMENT above 231, stock may show 240/250 level in coming days. Below 231 major supports will be 223.

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…?

Nifty Market Outlook 25-june-2015

Nifty levels:  

Nifty spot close @8360

Nifty future close @8333

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 @18304

Bank nifty future close @18304

Good recovery from lower level buys above 17900 for the target of 18500-18600.

lMARKET COMMENTERY

 A sudden slide in late trade pushed key benchmark indices into the red from green. The sudden slide in late trade materialized after benchmark indices extended intraday gains in mid-afternoon trade. The trigger for the sudden slide in late trade was media reports that Greece's creditors have rejected the European nation's latest reform proposals. European stocks dropped after media reports suggested that Greece's creditors have not accepted the European nation's latest reform proposals. PSU bank stocks, steel shares and cement stocks dropped. The market breadth indicating the overall health of the market turned negative from positive in late trade. The barometer index, the S&P BSE Sensex, was provisionally off 143.47 points or 0.52% to 27,660.90. The BSE Small-Cap and Mid-Cap indices, both, slipped into the red from green in late trade.

STOCK BUZZ

1. Coal India reversed diretion after hitting 52-week high in intraday trade. The stock was off 1.12% at Rs 410.50. The stock hit a high of Rs 421.35 in intraday trade, which is a 52-week high for the counter. The stock hit a low of Rs 408.50 in intraday trade.

2. Tech Mahindra dropped on reports that a foreign brokerage has maintained its 'underweight' stance on the stock. The stock was off 1.72% at Rs 544.10. The stock hit a high of Rs 552 and a low of Rs 542 in intraday trade. The foreign brokerage reportedly said that growth challenges in Tech Mahindra's telecom industry vertical and its weak enterprise business will lead to lower earnings. The company's margins will surprise the consensus negatively going ahead, the brokerage added.

HOT PURSUIT

1. Meanwhile, concerns of a likely spike in food prices have receded due to above-average rains during the initial part of the June-September southwest monsoon season. For the country as a whole, the cumulative rainfall during this year's monsoon season was 21% above the Long Period Average (LPA) until 22 June 2015. Region wise, the southwest monsoon was 45% above the LPA in Central India, 35% above the LPA in South Peninsula, 3% above the LPA in East & Northeast India and 7% below the LPA in Northwest India until 22 June 2015.

2. Meanwhile, the summary of the electronic consultation with of the members of the Technical Advisory Committee on Monetary Policy released by Reserve Bank of India (RBI) yesterday, 23 June 2014, showed that all the seven members of the committee recommended a reduction in policy repo rate by the RBI at the Second Bi-monthly Monetary Policy Review, 2015-16 on 2 June 2015. Four members advocated a cut in repo rate by 25 basis points; two members suggested a 50 basis points reduction and one member proposed a reduction by 75 basis points. One of these members also recommended that the SLR should also be reduced by 50 basis points. It may be recalled that the RBI cut its benchmark lending rate viz. the repo rate by 25 basis points after the 2 June 2015 policy review.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8400 call so we can consider this as a strong resistance.

2. RELIANCE 1000 & 1020 CALLS were so active, stock is really in bullish move more rally is expected up to 1020.

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

STOCKS TO WATCH

CIPLA:

Buy CIPLA above 620245 stock may show 660-670 in coming days.

AMBUJA:

Buy AMBUJA CEMENT above 231, stock may show 240/250 level in coming days. Below 231 major supports will be 223.

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…?

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Nifty levels:  

Nifty spot close @8013

Nifty future close @8005

Buying opportunity above 7980 index may show 8100-8150 level, consolidation is expected from lower level. 

Bank Nifty levels:  

Bank nifty spot close @17410

Bank nifty future close @17396

Short covering was expected today, selling opportunity below 17600. We may see 16900-17100 level below 17600.

MARKET COMMENTERY

Expectations that above-average monsoon rain will improve the odds for further monetary policy easing from Reserve Bank of India (RBI) helped key benchmark indices register modest gains on the first trading session of the week today, 15 June 2015. But, benchmark indices pared gains during the latter part of the trading session after extending intraday gains in mid-afternoon trade as fears about possible Greek default pulled European stocks lower. 

 The barometer index, the S&P BSE Sensex, was provisionally up 144.24 points or 0.55% at 26,569.54. In percentage terms, the gains for the Sensex were higher than those for the Nifty. The Nifty was provisionally up 23.60 points or 0.3% at 8,006.50. The market breadth indicating the overall health of the market was positive.

STOCK BUZZ

1. Auto stocks were in demand. Tata Motors rose after reporting data on global wholesale volumes for May 2015. Shares of Vedanta fell while those of Cairn India edged higher after Vedanta and Cairn India yesterday, 14 June 2015, announced that Cairn India will be merged with Vedanta.

2. Axis Bank fell 3.24%. The Ministry of Urban Development after trading hours yesterday, 10 June 2015, announced that Axis Bank has decided to issue co-branded cards to the users of Kochi Metro for paying the fares. Axis Bank will issue co-branded cards to the users of Kochi Metro for paying the fares as well as using them for all kinds of merchandise including e-commerce, according to a statement from the Ministry of Urban Development. 

HOT PURSUIT

1. Meanwhile, the government's indirect tax revenue collections jumped 37.3% at Rs 49993 crore in May 2015 over May 2014, according to provisional figures released by the finance ministry after trading hours yesterday, 10 June 2015. Central excise collections jumped 84.2% at Rs 21809 crore in May 2015 over May 2014. Customs collections rose 16% to Rs 15700 crore in May 2015 over May 2014. Service Tax collections rose 13.2% at Rs 12484 crore in May 2015 over May 2014.

2. The India's industrial production rose at an accelerated pace of 4.1% in April 2015 over a year ago compared with the revised growth of 2.5% in March 2015. The growth in industrial production for March 2015 was scaled up to 2.5% in the first revision compared with 2.1% reported provisionally. Meanwhile, the growth in January 2015 has been revised slightly upwards to 2.83% in the second and final revision compared with 2.77% at the first revision and 2.55% released provisionally.

OPTION STRATEGY

1. In today’s session we have seen call writing in nifty 8100 call so we can consider this as a strong resistance.

2. BHEL 240 & 250 PUTS were so active, stock took profit booking from upper level. 

3. 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.

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…?