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Monday 6 July 2015

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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…?

Friday 3 July 2015

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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…?

Thursday 2 July 2015

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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…?

Wednesday 1 July 2015

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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…?

 

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