Nifty 8140/Sensex 26525/Bank Nifty 17671
12 Advances/39 Declines/0 Unchanged
“Nifty ends above 8100, Sensex down 201 pts; Maruti falls 3%”
“Bloodbath in Indian market at opening session, Nifty bounce back and sustains 8100 showed intense and volatile session session”
“S&P BSE BANKEX, Bank Nifty, S&P Auto BSE, S&P BSE Capital Goods among Dragging Sector. S&P BSE Metal, S&P BSE PSU , S&P BSE Consumer Durable among gaining sectors.”
Nifty 50 overall theme was bloodbath at the opening session as it cracked almost 125 points at opening session on impending negative sentiments of global news like BREXIT vote on 23rd June and FED meet as Nifty 50 opened weak at 8181 and cracked to make a low of 8074 before showing some resilience and tried to hold 8100 and hence bounced back to finally close at 8141 shredding 65 points or decrease of 0.80% to the index.
Key highlights of 16th June 2016
• Odds for a July rate hike drop after Fed holds steady.
• Brexit risk for Tata Motors: UK slowdown, trade tariffs may hurt JLR.
• Crompton Greaves up 3%; to sell global automation arm by Sep.
• John Lewis deal to help sustain 31-35% gross margins: Zensar.
• Hiring grows 2% in May led by automobile sector: TimesJobs.
• Delayed payments by govt behind Rolta liquidity crisis: Fitch.
• CAD may widen to 1.4% of GDP in FY17: Nomura.
• Pidilite arms acquire Kenya-based NEAPL.
• To maintain 28% rev growth; improve RoCE to 20%: Sterlite Tech.
• Tata Motors expects 14-15% CV volume growth in FY17.
• Punjab National Bank releases updated list of wilful defaulters.
• Ujaas Energy receives order worth Rs 20.66 crore.
Our Performance....
Our call To Buy Oriental Bank (Cash ) around 90 proved great as Oriental Bank made high of 96.20 before settling at 95.75 on closing. We booked Full Profit above 96.
Our call To Buy Bank of India (Fut) around 89 proved great as Bank of India made high of 93.90 before settling at 93.30 on closing. We booked profit around 93.00
We also recommended buying Titan 360 CE (Option) around 7.00—6.70.Today it made a high of 14.95 before it closed at 14.15. We booked part profit around 12.20—13.00.
We also recommended buying Crompton Greaves 75 CE (Option) around 2.50. Today it made a high of 3.95 before it closed at 2.65. We booked part profit around 3.70—3.95.
We also recommended Siemens (Cash/Fut) around 1250.It made a high of 1263.85 before it closed at 1257.40
We exited in loss making stock like NTPC and LT. Soon we will recover that loss too.
Our called proved fruitful even in turmoil market.
“Hope you all Minted money” Just trade with level and you will mint money.
Now what to expect?
NIFTY FUTURES: Nifty 50 Futures was in same trajectory to spot nifty and bloodbath was theme of the day among impending global news Like BREXIT and FED meet outcome and its effect on Asian markets and hence opened weak at 8208 and tanked to make a low of 8080 before finally showing some resilience and closing at 8146 losing 71 points or decrease of 0.87% to the index.
Nifty 50 futures settled at premium of 5 to Spot nifty and this show that Nifty 50 futures is positional strong on closing basis with respect to spot nifty.
Nifty futures settled at 8146. It is showing near term crucial resistance at 8230. If this level is breached and sustained positively then we may see resistance building at 8300—8320.
It has a near term support intact at 8080. Fresh selling can initiate only close below that mark.
BANK NIFTY: Bank Nifty futures theme of the day was correction or profit booking and it showed intense weakness at the opening session as it open negatively at 17784 and from there tanked to make a low of 17538 and shredded
217 points or decrease of 1.21% to the index.
Currently Bank Nifty at 17600---17450 has crucial resistance at 17800. If this level is breached in coming sessions and sustained then one may see next resistance building around 17980—18050. Fresh selling can initiate only close below 17450 mark.
Traders can trade with levels only and wait for confirmation
Today's Top Pick
Yesterday we clearly indicated that Banking sector looks positive on charts and we will expect major upside rally in Banking stocks.
Concentrate on PNB... We are recommending this stock fo buy from 80 mark.
Three consecutive closes + weekly close above 92.00 will see sharp upside rally till 125---140+ mark in days to come.
Double bottom pattern confirms then rally and we will see mind blowing return in coming weeks.
Stop loss 70.00 on positional basis.
More will update soon keep watching this space!!
