Nifty 8108/Sensex 26395/Bank Nifty 17672
23 Advances/28 Declines/0 Unchanged
“Sensex, Nifty end flat amid global weakness; Fed meet in focus”
“State-centre consensus on key GST issues, says FM; Cong bickers”
“S&P BSE Healthcare, Bank Nifty, S&P BANKEX, S&P BSE Small cap, among gaining Sector. S&P BSE IT, S&P oil & Gas, S&P BSE Teck among dragging sectors.
Nifty 50 traded with weakness in the session and traded flat throughout the session and showed intense range bound volatility as investors had stock specific and sectorial approach in market and hence we saw nifty open weak at 8134 and from there made low of 8070 among negative sentiments of impending global news like BREXIT vote on 23rd June and FED meet and again bounced back to make high of 8135 before finally closing at 8109 and was able to hold and sustain 8100 positively on closing basis.
Key highlights of 14th June 2016
State on board for 1% manufacturing tax if compensated:Guj FM.
Sebi begins proceedings to recover Rs 55,000 cr from defaulters.
Alibaba says expects revenue growth of 48% in fiscal year 2017.
Flying Balaji: Stock gains 9% as HC clears Udta Punjab.
HDFC MF sells 2% stake in CGCEL for Rs 168 cr.
AP Transco to invest Rs 13k-cr to strengthen network.
Aster DM Healthcare to invest Rs 600 cr in Kerala in 3 yrs.
HDIL to sell land parcels near Mumbai, cut debt 27% in FY17.
TCS tax liabilities more than double to Rs 8K cr in FY16.
Internal accruals, debt to fund expansion of cement unit: KCP.
Forex market bracing for volatility ahead of Brexit vote: HSBC.
'Good time to go public': IPO-bound Mahanagar Gas .
Indraprastha Gas, GAIL shares rally ahead of Mahanagar Gas IPO .
Yesterday again we enjoyed a lot...
Our call to Buy Oriental Bank around 90.00 proven great as it made high of 93.40 before settling at 93.15 on closing. We booked part profit around 93.
Our another call to buy Bank India around 89 too proven great as Bank of India made high of 91.25 before settling at 91.15 on closing. We booked part profit around 91.00
We also recommended buying Hindalco 115 CE (Option) around 3.50—3.00.Today it made a high of 4.30 before it closed at 4.10.
Hope you all enjoyed levels in IGL too.
Our calls proven fruitful even in turmoil market and you are in worry about trial..... need not to worry at all? Watch more!!
Now what to expect?
Nifty future settled at premium of 11 to Spot nifty and this show that Nifty futures is positional strong on closing basis with respect to spot nifty.
Nifty futures is settled at 8120. It is showing near term crucial resistance at 8150--8180. If this level is breached and sustained positively then we may see resistance building at 8280---8320 mark else it could test its support level of 8080 again.
Break and sustain below 8080 will see more downside panic till 8020---7980 and then to 7900 mark.
Remember... don't get panic at lower levels. Above 8000... target intact 9100---9200. 8000---7900 could be best buying opportunity in Nifty but trade with levels only.
More levels will update during market hours
Today's Top Pick
Asian paints... Not able to breach 1000 mark and slipped.
Our buy call of PNB flared like anything and hit 90.00 mark in cash. Clearly indicated to buy above 81.00 mark.
Now it has hurdle at 92.00.
Three consecutive closes + weekly close above 92.00 will see sharp upside rally in coming months.
Target looks 125---140+ mark in days to come.
Stop loss intact 75.00
