Indian stocks were higher after the close on Friday, as gains in the Real estate, Banking and Auto sectors led shares higher. At the close Nifty gained 1.95%, while the Sensex gained 1.88%. The best performers of the session were DLF which rose to 18.60% and Punjab National Bank which rose to 8.77%. While the worst performers of the session were Bharat Petroleum Corp. Ltd. which fell 1.30%, Dr. Reddy's Laboratories Ltd. declined 0.79% and Infosys Ltd was down 0.76%
Rising stocks out numbered declining ones on the India National Stock
Exchange by 1029 to 404 and 7 ended unchanged; on the Bombay Stock
Exchange, 562 rose and 190 declined, while 4 ended unchanged. The India VIX, which measures the implied volatility of Nifty options, was down 5.86% to 16.0200.
Nifty... not able to breach its support level of 8348 and bounced back sharply. Above 8418.. our target was 8498---8522 and then to 8576. It made a high of 8553 and finally settle at 8542.70
Same with Bank Nifty... Not able to breach its support level of 18166 and bounced back sharply to 18840 and finally settled at 18791.15. Our upside target was 18616 and then to 18863--- 18993
Still need trial... Need not to worry. Watch more and enjoy
Our downside target in Jubilant food 1690. It made a low of 1688 and bounced back sharply. What else you want???
Our sell call in Mind tree too proven great. We booked full profit around 1360 mark. We recommended selling around 1385 mark. We booked profit due to positive momentum seen in Nifty
That's why we recommended book full profit in Sail and Tata motors too... Ask with our subscribers
Now what to expect today.... Could be stock specific day
Nifty future... Above
8561, once again we will expect rally in Nifty future till 8581 and then to 8607---8631. More
power will expect only close above 8631. Three consecutive closes + weekly close above 8631 will see fire in Nifty future else it could test its support level of 8518---8489 again
Nifty future..... Nifty future has support at 8489. Below
8489 again we will expect Nifty future to test till 8468---8443 and then
to 8418 mark. More and more weakness will see only close below 8418 mark. 8418 is major support or last hope for bull riders
What to do in bank nifty today...
Bank Nifty future...Well above 18863 we will see further upside rally in Bank Nifty future till 18993---19056. More power will expect above 19056 for the upside target of 19186---19289 mark. Three consecutive closes + weekly close above 19289 will see fire in Bank Nifty future else it could test its support level of 18698---18616
Bank Nifty future....
Below 18616 we will see further downside panic in Bank Nifty future till
18483---18346. More and More panic will see only close below 18346 mark
Today's Pick
Punjab National Bank... We have seen mind blowing rally on Friday and we will expect rally to remain continue in today's trading session too. The government today announced a reform plan for ailing public sector
banks (PSBs). Rising Non-Performing Assets (NPAs) have pushed most PSBs
near the red line in the second quarter results. Financial Services Secretary Hasmukh Adhia, presented a
"Comprehensive Transformation Framework" for state banks at a press
conference. The gross NPAs as a percentage of total advances rose to 2.04%, from
1.56% in the year-ago period. The net NPAs too increased to 0.93%, from
0.81%. The seven-point reform plan to revamp PSU banks
comes after the government's earlier plan to infuse Rs 70,000 crore in
PSU banks, of which Rs 25,000 crore will go out in this fiscal.
Technically... Above 163 we will see rally till 173---178+ mark in day to come. In panic will buy with strict stop loss.
Stop loss only to our subscriber......
Our 2nd Pick....
DLF... Settled with a gain of 18.60% at 133.35. DLF bounced back sharply from lower levels on Friday after the real estate developer reported strong sales growth in
its June quarter. DLF reported a 29 per cent jump in its sales to Rs
2,231 crore for the quarter ended June 30. DLF reported its quarterly earnings after market hours on Thursday. DLF's operating income, or EBIDTA, rose to Rs 942 crore, an increase of 9
per cent year-on-year. DLF said its net leasing improved to 0.21 msf
(million square feet) vs 0.1 msf sequentially. It booked sales of 0.16
msf in the quarter. However, its net profit went down to Rs 121.5 crore from Rs 127 crore a year earlier, hit by higher interest costs. Its finance cost rose to Rs 604.3 crore, against Rs 558.10 crore the same quarter of the previous year. In a statement, DLF said it expects to deliver about 20 million sq ft of
area over next few quarters which will create ready to move in stock. "The company believes it would be more fruitful to be prepared for the
up cycle in the market by readying finished stock rather than launching
new projects in these tepid market conditions," it said. (With Agency Inputs). Source: NDTV
Still looks positive and could test its resistance level of 136. Break and sustain above 136 will take to 143---147+ mark in days to come
In panic will buy.... Stop loss only to our subscribers
Today we love Cairn India and Mothersumi and Reliance Industries too, ....
Investment Pick only for our subscribers.... More levels and updates during market hours
