Nifty 8170/Sensex 26615/Bank Nifty 17696
28 Advances/23 Declines/0 Unchanged
Nifty ends above 8150, Sensex up 100 points; Bharti, TCS, HDFC gain
The market breadth was marginally positive as about 1303 shares advanced against 1133 declining shares on Bombay Stock Exchange.
It was yet again a volatile session for Indian markets, as market opened gap up but then lost the strength in middle hours where 8150 acted as a good support and then it finally closed positive. The market breadth although remained marginally positive as about 1303 shares advanced against 1133 declining shares on Bombay Stock Exchange.
The market ended on a firm note with the Sensex up 100.45 points or 0.4 percent at 26625.91 and the Nifty was up 29.45 points or 0.4 percent at 8170.20. About 1240 shares advanced, 1333 shares declined, and 184 shares were unchanged.
Bank nifty mostly followed the Nifty trend and closed at 17696 gaining 24 points.
Bharti Airtel, TCS, Tata Motors, HDFC and Coal India were top gainers while Sun Pharma, Dr Reddy's, Tata Steel, SBI and L&T were losers in the Sensex.
Key highlights of 16th June 2016
JSPL seeks shareholders' nod for sale of power units
Govt imposes 20% duty; likely to make sugar exports unviable
Need to invest Rs 750-2000 cr to grow hospitalty biz: Brigade
Rains to hit Maharashtra in 2-3 days, not changing annual forecast
PMO asks steel ministry to draw up revival plan for sector
Godrej Consumer may gain market share in Nigeria on naira fall
JP Morgan downgrades ICICI, cuts target on NPA & provision woes
Sebi directs Religare's art fund to refund investors money
Brexit vote to be make-or-break for gold: Fat Prophets
Pro-Brexit UK lawmaker shot dead, referendum campaigns suspended
Bengaluru’s ‘Rain Man’: Why Rainwater Harvesting is the future of water conservation
It was a good day for our subscribers as we booked profit in our recommendations.
We booked full profit in our option call of Hindalco 115 CE around 6.60. It was told to buy around 3.50—3.00.
JSW energy was asked to buy at 82.50—82 and we booked part profit in this at 85.
Another call of Siemens proved great, it was asked to buy around 1250 and we booked profit in this at 1272.
Nitin Spin also skyrocketed and we booked profit around 82, we had advised to buy this at 70--72.
Now what to expect???
Nifty futures remain range bound between the levels of 8080 and 8230. So a break on either side will be crucial. Nifty is although in positive trend and Nifty futures should break above 8230 levels and sustain. Above 8230 levels, it can test its next resistance of 8280---8320.
It's Brexit pending result that is keeping Nifty in a range bound situation, analysts believe that after this event Indian markets should pick up their own pace and we are positive in Nifty. So above 8000, target is intact to 9100---9200.
Traders can trade with levels only. More levels will update soon.
Top Pick of the day
Today's top pick we will update during market hours only on our Android App so keep following our App. If you have not installed it yet CLICK HERE.
More will be update soon during market hours on our Blog and App so keep watching this space!!
